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EYE » Topics » Additional Financial Highlights

This excerpt taken from the EYE 8-K filed Feb 14, 2008.

Additional Financial Highlights

Below are additional highlights for fourth-quarter and full-year results. Growth rates reflect comparisons to the same period one year ago.

 

    

Fourth-Quarter 2007

   

Full-Year 2007

Gross Profit
  

•       Rose 28.3% to $178.3 million.

 

•       Reflected IntraLase and WaveFront Sciences acquisitions, favorable sales mix shift.

 

•       Included $6.4 million in recall-related returns and costs, and $23.2 million impact of estimated recall-related lost sales, compared to $19.0 million recall-related returns and costs, and $11.7 million impact of estimated recall-related lost sales in the year-ago period.

 

•       Included $0.8 million in transaction-related charges. Year-ago period included $1.2 million in charges related to business repositioning initiatives.

  

•       Virtually unchanged at $615.9 million.

 

•       Reflected acquisitions of IntraLase and WaveFront Sciences, favorable sales mix shift.

 

•       Included $78.0 million in recall-related returns and costs, and $63.5 million impact of estimated recall-related lost sales, compared to $19.0 million in recall-related returns and costs, and $11.7 million impact of recall-related lost sales in 2006.

 

•       Included $8.6 million in transaction-related charges. 2006 included $16.3 million in charges related to business repositioning initiatives.

R&D Expense      
  

•       Rose 27.7% to $21.0 million, reflecting primarily IntraLase and WaveFront Sciences acquisitions.

   

•       Rose 23.8% to $81.8 million, reflecting primarily IntraLase and WaveFront Sciences acquisitions.

SG&A Expense      
  

•       Rose 31.9% to $150.0 million.

 

•       Reflected IntraLase and WaveFront Sciences acquisitions.

 

•       Included $9.7 million net cost increases related to recall, compared to $5.0 million in the year-ago period.

 

•       Included $17.0 in intangible amortization, compared to $9.8 in the year-ago period.

 

•       Included $9.9 million in transaction-related charges.

   

•       Rose 35.2% to $547.1 million.

 

•       Reflected IntraLase and WaveFront Sciences acquisitions.

 

•       Included $17.4 million in net cost increases related to recall in 2007, compared to $5.0 in 2006.

 

•       Included $60.6 in intangible amortization, compared to $40.0 million in 2006.

 

•       Included $29.6 million in transaction-related charges, compared to $3.3 million in 2006.

Operating Income (Loss)      
  

•       Declined 17.6% to $7.3 million.

   

•       $100.1 million loss, compared to 2006 income of $197.7 million.

Non-operating Expense      
  

•       Rose 197.3% to $24.1 million, including a $3.4 million unrealized loss on currency derivatives.

 

•       Higher interest expense due primarily to increased debt associated with the IntraLase acquisition.

   

•       Rose 50.9% to $79.9 million, including a $6.1 million unrealized loss on currency derivatives.

 

•       Higher interest expense due primarily to increased debt associated with the IntraLase acquisition.

Taxes      
  

•       Reported $4.5 million benefit, which continues to reflect the effects of losses benefited in lower-tax foreign jurisdictions.

   

•       Reported $13.0 million provision, primarily due to unfavorable tax impacts of acquisitions, including non-deductible in-process R&D charges, the impact of the recall and related impacts on utilization of foreign tax credits.

Net Income (Loss)
  

•       $12.3 million net loss, compared to $7.6 million net loss in year-ago quarter.

   

•       $192.9 million net loss, compared to net income of $79.5 million in 2006.

AMO Announces Fourth-Quarter and Full Year 2007 Results – 5

 

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