LONDON (Thomson Financial) - Advanced Medical Optics Inc. said its
fourth-quarter net loss widened to $12.3 million, or 20 cents a share, from a
net loss of $7.6 million, or 13 cents a share, in the same quarter a year
earlier.
Sales in the latest three months rose 25 to $304.6 million on organic
growth, the acquisitions of IntraLase Corp. and WaveFront Sciences Inc. The
period also includes a 5.3% increase related to favorable foreign exchange
factors.
Analysts polled by Thomson Financial forecast, on average, a loss of 6 cents
a share on revenue of $287.4 million.
The company lowered its 2008 outlook, citing expectations of a decline of
about 10% in U.S. excimer procedures compared with a prior expectation of growth
of about 6%.
The company's revised guidance also assumes a more modest rate of growth for
its U.S. femtosecond procedure and refractive IOL sales than it previously
expected.
Advanced Medical now expects 2008 adjusted earnings of between $1.25 and
$1.45 a share, versus a prior estimate of $1.55 to $1.75 a share.
The company said full-year revenue is now expected in the range of $1.22 to
$1.24 billion, down from a previous forecast of $1.23 billion to $1.25 billion.
The stock closed Wednesday at $21.26.
Mark.cotton@thomson.com
mc1/jw
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