Results round-up: Ophthalmology firms struggle as ortho and Dx rally
This article was originally published in Clinica
Executive Summary
The contact lens solution recall and temporary Chinese plant closure that hit Advanced Medical Optics in November 2006 drove the company into loss in the fourth quarter. However, despite the decline in eye care sales from $66m to $53m in the quarter, cataract and implant sales, the company's biggest business activity, grew 5% to $139m, driven by currency effects and growth in intraocular lens revenues. Laser vision correcton sales slipped 4.5% to $52m, which the company attributed to lower system sales versus the fourth quarter of 2005, when it was rolling out its Iris Registration technology in the US.