AMO reports second-quarter financials

Medical Company Financials

Advanced Medical Optics (AMO) has published its financial results for the second quarter of the 2008 fiscal year.

The company generated revenues of $320.5 million (168.9 million pounds) during the three-month period, a 22.6 per cent rise over the same quarter last year.

Net earnings for the quarter were recorded at $22 million, compared to a net loss of $166.8 million for the comparable quarter in 2007.

AMO reported diluted GAAP earnings per share (EPS) of $0.35, with the combined net impact of charges, gains and other items increasing EPS by $0.11.

As a result of its revised outlook for US refractive procedures, the company lowered its adjusted 2008 EPS guidance from $1.25-$1.45 to $1.00-$1.15.

Jim Mazzo, chairman and chief executive officer of AMO, said: "AMO's second-quarter results showed the strength and resiliency of our global business, despite the declines in domestic refractive volumes brought on by the weakening US economy,"

He added the quarter saw the benefits and value of the international expansion of its refractive business, as these revenues partially offset challenges in the US market.

In April 2008, AMO won the Omega NorthFace SoreBoard Award for customer care for the seventh time.

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