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Advanced Medical Optics Inc (1168335) SEC Filing 10-Q Quarterly report for the period ending Friday, September 28, 2007

Abbott Medical Optics Inc

CIK: 1168335

EXHIBIT 99.1

LOGO

FOR IMMEDIATE RELEASE

 

Investors:    Media:
Sheree Aronson, Corporate Vice President,    Steve Chesterman, Manager, Corporate
Investor Relations and Corporate Communications    Communications
(714) 247-8290    (714) 247-8711
sheree.aronson@amo-inc.com    steve.chesterman@amo-inc.com
or   
Mark Levin, Manager, Investor Relations   
(714) 247-8465   
mark.levin@amo-inc.com   

ADVANCED MEDICAL OPTICS ANNOUNCES

THIRD-QUARTER 2007 RESULTS

Pro Forma Laser Vision Correction Sales Rise 15.8% on Global Procedure Growth and Unit Placements

Cataract/Implant Sales Grow 5.2% on Strong IOL and Phacoemulsification Performance

Eye Care Business Rebounds Following May 2007 Recall; Global Re-Launch of Branded Multipurpose Solution Underway

Company Reaffirms 2007 and 2008 Financial Guidance

(SANTA ANA, CA), October 25, 2007 – Advanced Medical Optics, Inc. (AMO) [NYSE: EYE], a global leader in ophthalmic surgical devices and eye care products, today announced financial results for the third quarter of 2007.

The company’s third-quarter 2007 net sales rose 5.6 percent to $273.2 million. The sales increases related to the IntraLase Corp. and WaveFront Sciences, Inc. acquisitions and organic growth were partially offset by lost sales related to the May 2007 contact lens care solutions recall. Foreign currency impacts increased net sales by 2.1 percent.

AMO reported a third-quarter net loss under Generally Accepted Accounting Principles (GAAP) of $25.9 million, or a loss of $0.43 per share, which included the impact of the recall. These results also included the following items, which combined to increase the net loss per share by approximately $0.08:

 

   

$5.3 million in pre-tax charges related to integration of acquisitions.

 

   

$2.4 million pre-tax loss on derivative instruments.

 

   

Estimated tax effects related to the items mentioned above, totaling $3.1 million.

In the same period last year, AMO reported GAAP net income of $87.2 million, or $1.42 per diluted share. A net total of $97.3 million in pre-tax items increased third-quarter 2006 results by $0.92 per share. These items included a pre-tax net gain of $102.9 million related to the


The following information was filed by Abbott Medical Optics Inc on Thursday, October 25, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Abbott Medical Optics Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2007 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1168335
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-07-238366
Submitted to the SEC: Wed Nov 07 2007 3:31:49 PM EST
Accepted by the SEC: Wed Nov 07 2007
Period: Friday, September 28, 2007
Industry: Surgical And Medical Instruments And Apparatus

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