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EYE » Topics » Additional Operating Results

This excerpt taken from the EYE 8-K filed Jul 20, 2005.

Additional Operating Results

 

The following are additional operating highlights for the second quarter of 2005.

 

· Gross profit for the second quarter of 2005 was $139.6 million and included approximately $1.9 million in costs associated with recent acquisitions. This compared to gross profit of $104.7 million for the same period one year ago.

 

· Research and development expense in the second quarter of 2005 was $13.9 million, compared to $10.2 million in the same period one year ago.

 

· SG&A expense for the second quarter was $97.6 million, including approximately $2.8 million in certain charges associated with recent acquisitions and integrations. In the second quarter of 2004, the company’s SG&A expenses stood at $76.9 million.

 

· The operating loss in the second quarter was $423.4 million, including approximately $456.2 million in charges and costs. This compares to operating income of $17.6 million in the same period one year ago.

 

· Non-operating expenses for the second quarter were $7.6 million, including $2.0 million in costs associated with debt restructuring charges net of a gain on currency derivatives. This compares to non-operating expenses in the second quarter of 2004 of $130.6 million, which included $126.3 million in costs associated with a recapitalization net of a gain on currency derivatives.

 

This excerpt taken from the EYE 8-K filed Apr 28, 2005.

Additional Operating Results

 

The following are additional operating highlights for the first quarter of 2005.

 

•   Gross profit for the first quarter of 2005 was $122.1 million, compared to $90.6 million for the same period one year ago. The gross profit margin for the first quarter was 63.4 percent, compared to 60.3 percent one year ago. The rise in gross profit margin was due to increased revenue, changes in product mix and continued execution of the company’s manufacturing strategy.

 

•   Research and development expense in the first quarter of 2005 was $12.4 million, compared to $9.0 million in the same period last year, demonstrating AMO’s continued commitment to investment in new technologies that provide competitive advantages. R&D expenses as a percent of sales were 6.4 percent in the first quarter of 2005, compared to 6.0 percent for the same period one year ago.

AMO Announces First Quarter 2005 Results - Page 3

 

•   SG&A expense for the first quarter was $83.8 million, or 43.5 percent of sales. In the first quarter of 2004, the company’s SG&A expenses stood at $71.1 million, or 47.3 percent of sales. The decline in SG&A as a percent of sales is attributable to an increase in revenue and efficiency gains related to the company’s centralized operating model. On a sequential basis, SG&A declined 9.5 percent from the fourth quarter of 2004.

 

•   Operating income for the first quarter was $25.9 million, compared to $10.5 million in the first quarter of 2004. The operating profit margin was 13.5 percent in the first quarter of 2005, compared to 7.0 percent for the same period in 2004.

 

•   Pretax income for the first quarter rose to $20.9 million, compared to $7.4 million in the same period one year ago. The company’s effective tax rate stood at 34 percent in the first quarter.

 

This excerpt taken from the EYE 8-K filed Apr 7, 2005.

Additional Operating Results

 

The following are additional operating highlights for the fourth quarter and full year of 2004. Please refer below to the itemized list and reconciliation of non-GAAP adjustments that impacted operating results during the period.

 

•   Gross profit for the fourth quarter of 2004 was $131.1 million and included a $14.1 million manufacturing profit capitalized in inventory and expensed related to the Pfizer ophthalmic surgical acquisition. In 2003’s fourth quarter, the company’s gross profit was $102.9 million. For 2004, the gross profit was $435.9 million and included a $28.1 million manufacturing profit capitalized in inventory and expensed related to the Pfizer ophthalmic surgical acquisition. In 2003, the company’s gross profit was $373.6 million. The year-over-year growth in gross profit reflected the increase in revenue and continued execution of the company’s manufacturing strategy. The adjusted gross profit margin for the fourth quarter of 2004, which excludes non-GAAP adjustments itemized in the table below, was 64.6 percent, compared to 61.6 percent in the same period last year. For the year, the adjusted gross profit margin, which excludes non-GAAP adjustments itemized in the table below, was 62.5 percent, compared to 62.1 percent in 2004.

 

•   Research and development expense in the fourth quarter of 2004 was $14.6 million, up 40 percent from $10.4 million in the same period last year. For 2004, R&D expense was $73.7 million and included a $28.1 million in-process R&D charge related to the Pfizer ophthalmic surgical acquisition. For 2003, the company recorded R&D expenses of $37.4 million.

 

•   SG&A expense for the fourth quarter was $92.6 million, or 41.2 percent of sales. In the fourth quarter of 2003, the company had SG&A expenses of $71.6 million, or 42.9 percent of sales. For 2004, SG&A expense stood at $329.2 million and included $2.3 million in certain charges related to the Pfizer ophthalmic surgical acquisition. SG&A expense for 2003 was $276.7 million.

 

•   Operating income for the fourth quarter was $23.9 million and included $14.1 million in certain charges related to the Pfizer ophthalmic surgical acquisition. In the fourth quarter of 2003, operating income was $20.9 million. For 2004, operating income was $33.0 million and included $58.5 million in certain charges related to the Pfizer ophthalmic surgical acquisition. In 2003, the company reported $59.5 million in operating income. The adjusted operating margin for the fourth quarter of 2004, which excludes non-GAAP adjustments itemized in the table below, was 16.9 percent, compared to 12.5 percent in the same period last year. For the year, the adjusted operating margin, which excludes non-GAAP adjustments itemized in the table below, was 12.3 percent, compared to 9.9 percent in 2003.

 

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•   During the quarter, AMO reduced its total debt outstanding to $552.6 million, from $568.4 million at the end of the third quarter. This reduction reflects the repayment of a portion of the $250 million Term B loan and the exchange of approximately $4.8 million principal amount of 3.5 percent convertible bonds during the quarter.

 

This excerpt taken from the EYE 8-K filed Feb 14, 2005.

Additional Operating Results

 

The following are additional operating highlights for the fourth quarter and full year of 2004. Please refer below to the itemized list and reconciliation of non-GAAP adjustments that impacted operating results during the period.

 

•   Gross profit for the fourth quarter of 2004 was $131.1 million and included a $14.1 million manufacturing profit capitalized in inventory and expensed related to the Pfizer ophthalmic surgical acquisition. In 2003’s fourth quarter, the company’s gross profit was $102.9 million. For 2004, the gross profit was $435.9 million and included a $28.1 million manufacturing profit capitalized in inventory and expensed related to the Pfizer ophthalmic surgical acquisition. In 2003, the company’s gross profit was $373.6 million. The year-over-year growth in gross profit reflected the increase in revenue and continued execution of the company’s manufacturing strategy. The adjusted gross profit margin for the fourth quarter of 2004, which excludes non-GAAP adjustments itemized in the table below, was 64.6 percent, compared to 61.6 percent in the same period last year. For the year, the adjusted gross profit margin, which excludes non-GAAP adjustments itemized in the table below, was 62.5 percent, compared to 62.1 percent in 2004.

 

•   Research and development expense in the fourth quarter of 2004 was $14.6 million, up 40 percent from $10.4 million in the same period last year. For 2004, R&D expense was $73.7 million and included a $28.1 million in-process R&D charge related to the Pfizer ophthalmic surgical acquisition. For 2003, the company recorded R&D expenses of $37.4 million.

 

•   SG&A expense for the fourth quarter was $92.6 million, or 41.2 percent of sales. In the fourth quarter of 2003, the company had SG&A expenses of $71.6 million, or 42.9 percent of sales. For 2004, SG&A expense stood at $329.2 million and included $2.3 million in certain charges related to the Pfizer ophthalmic surgical acquisition. SG&A expense for 2003 was $276.7 million.

 

•   Operating income for the fourth quarter was $23.9 million and included $14.1 million in certain charges related to the Pfizer ophthalmic surgical acquisition. In the fourth quarter of 2003, operating income was $20.9 million. For 2004, operating income was $33.0 million and included $58.5 million in certain charges related to the Pfizer ophthalmic surgical acquisition. In 2003, the company reported $59.5 million in operating income. The adjusted operating margin for the fourth quarter of 2004, which excludes non-GAAP adjustments itemized in the table below, was 16.9 percent, compared to 12.5 percent in the same period last year. For the year, the adjusted operating margin, which excludes non-GAAP adjustments itemized in the table below, was 12.3 percent, compared to 9.9 percent in 2003.

 

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•   During the quarter, AMO reduced its total debt outstanding to $552.6 million, from $568.4 million at the end of the third quarter. This reduction reflects the repayment of a portion of the $250 million Term B loan and the exchange of approximately $4.8 million principal amount of 3.5 percent convertible bonds during the quarter.

 

This excerpt taken from the EYE 8-K filed Feb 8, 2005.

Additional Operating Results

 

The following are additional operating highlights for the fourth quarter and full year of 2004. Please refer below to the itemized list and reconciliation of non-GAAP adjustments that impacted operating results during the period.

 

•   Gross profit for the fourth quarter of 2004 was $131.1 million and included a $14.1 million manufacturing profit capitalized in inventory and expensed related to the Pfizer ophthalmic surgical acquisition. In 2003’s fourth quarter, the company’s gross profit was $102.9 million. For 2004, the gross profit was $435.9 million and included a $28.1 million manufacturing profit capitalized in inventory and expensed related to the Pfizer ophthalmic surgical acquisition. In 2003, the company’s gross profit was $373.6 million. The year-over-year growth in gross profit reflected the increase in revenue and continued execution of the company’s manufacturing strategy. The adjusted gross profit margin for the fourth quarter of 2004, which excludes non-GAAP adjustments itemized in the table below, was 64.6 percent, compared to 61.6 percent in the same period last year. For the year, the adjusted gross profit margin, which excludes non-GAAP adjustments itemized in the table below, was 62.5 percent, compared to 62.1 percent in 2004.

 

•   Research and development expense in the fourth quarter of 2004 was $14.6 million, up 40 percent from $10.4 million in the same period last year. For 2004, R&D expense was $73.7 million and included a $28.1 million in-process R&D charge related to the Pfizer ophthalmic surgical acquisition. For 2003, the company recorded R&D expenses of $37.4 million.

 

•   SG&A expense for the fourth quarter was $92.6 million, or 41.2 percent of sales. In the fourth quarter of 2003, the company had SG&A expenses of $71.6 million, or 42.9 percent of sales. For 2004, SG&A expense stood at $329.2 million and included $2.3 million in certain charges related to the Pfizer ophthalmic surgical acquisition. SG&A expense for 2003 was $276.7 million.

 

•   Operating income for the fourth quarter was $23.9 million and included $14.1 million in certain charges related to the Pfizer ophthalmic surgical acquisition. In the fourth quarter of 2003, operating income was $20.9 million. For 2004, operating income was $33.0 million and included $58.5 million in certain charges related to the Pfizer ophthalmic surgical acquisition. In 2003, the company reported $59.5 million in operating income. The adjusted operating margin for the fourth quarter of 2004, which excludes non-GAAP adjustments itemized in the table below, was 16.9 percent, compared to 12.5 percent in the same period last year. For the year, the adjusted operating margin, which excludes non-GAAP adjustments itemized in the table below, was 12.3 percent, compared to 9.9 percent in 2003.

 

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AMO Announces Fourth Quarter and Year-End Results – Page 4

 

•   During the quarter, AMO reduced its total debt outstanding to $552.6 million, from $568.4 million at the end of the third quarter. This reduction reflects the repayment of a portion of the $250 million Term B loan and the exchange of approximately $4.8 million principal amount of 3.5 percent convertible bonds during the quarter.

 

EXCERPTS ON THIS PAGE:

8-K
Jul 20, 2005
8-K
Apr 28, 2005
8-K
Apr 7, 2005
8-K
Feb 14, 2005
8-K
Feb 8, 2005

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