Sheree Aronson, Corporate Vice President,

Investor Relations and Corporate Communications

(714) 247-8290




Steve Chesterman, Manager,

Global Corporate Communications

(714) 247-8711






Diluted GAAP EPS of $0.11 Reduced by $0.04 Due to Combined Net Impact of Charges, Gains and Other Items



Sales Rose 1% to $275.6 Million as Growth in Cataract and Eye Care Sales Offset Significant Refractive Sales Declines

(SANTA ANA, CA), October 31, 2008 – Advanced Medical Optics, Inc. (AMO) [NYSE: EYE] today announced financial results for the third quarter of 2008.

Third-quarter net sales rose 1.0% to $275.6 million, including a 2.7% increase related to foreign currency exchange rate effects. Third-quarter net earnings under Generally Accepted Accounting Principles (GAAP) were $7.1 million, or $0.11 per diluted share. Third-quarter results included the following pre-tax items, which combined, on an after-tax basis, to reduce net earnings per diluted share by an estimated $0.04:



$11.0 million in restructuring charges associated with manufacturing relocation, workforce reductions and facility consolidation initiatives, including $5.7 million of inventory, manufacturing and other related charges recorded in cost of sales and a $1.8 million charge for accelerated depreciation of leasehold improvements recorded in SG&A expense.



$5.8 million unrealized gain on derivative instruments and a $1.1 million gain on an investment.

In the year-ago period, the company reported a GAAP net loss of $25.9 million, or a loss of $0.43 per share, which reflected the impacts of the May 2007 eye care recall. The 2007 third-quarter results also included $5.3 million in acquisition-related charges and a $2.4 million loss on derivative instruments, which combined to increase the net loss per share by approximately $0.08.

“Our results clearly reflect the ongoing impact of deteriorating economic conditions on our refractive business, particularly in the U.S. and Europe,” said AMO Chairman and Chief Executive Officer Jim Mazzo. “However, we delivered another strong quarter across the globe in our cataract business, which is our largest at 47% of sales. While our recent multipurpose market share trends are positive, eye care sales in Japan remain below our expectations and we’ve made management and operational changes to improve our performance in future periods. Despite challenges in the quarter, we continued to make progress against key operational metrics and objectives, including reducing SG&A expense, delivering positive cash flow and taking proactive steps to reduce debt.”

The following information was filed by Abbott Medical Optics Inc on Friday, October 31, 2008 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.

View differences made from one quarter to another to evaluate Abbott Medical Optics Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Abbott Medical Optics Inc.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


See when company executives buy or sell their own stock

Insider Trading (Form 4)
Screenshot taken from Euronet (EEFT)
Last10K.com Member Feature

Use our calculated cost dollar values to discover when and how much registered owners BUY, SELL or excercise their company stock OPTIONS aggregated from Form 4 Insider Transactions SEC Filings


Log in with your credentials


Forgot your details?

Create Account