Advanced Medical Optics posts Q4 loss

A net loss in excess of $7 million (3.6 million pounds) was recorded by Advanced Medical Optics (AMO) during the final quarter of last year.

The firm, which supplies contact lenses and surgical eye devices to the global market, revealed net losses in the last three months of last year of $7.6 million.

AMO attributed the results to a combination of product returns and associated costs, sales declines as a result of recalls and the effect of these factors upon tax assessments.

“In 2006, we made progress toward our strategy to establish AMO as the refractive company,” commented Jim Mazzo, the chairman, president and chief executive at the company.

He added that the firm was “aggressively addressing the recall at the end of the year” and is expecting to launch a range of new eye care products during the course of 2007.

AMO owns a number of eye care brands, including Oxysept, UltraCare, Total Care, Blink-N-Clean and Moisture Plus.

In November last year, the company announced a voluntary product recall of a specific type of multi-purpose contact lenses after three lots sold in Japan contained a bacterial contamination.