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EYE » Topics » Second-Quarter Performance by Product Line

This excerpt taken from the EYE 8-K filed Aug 2, 2007.

Second-Quarter Performance by Product Line

Below are sales highlights of second-quarter 2007 results by product line. Growth rates reflect comparisons to the same period in 2006 and include the impacts of foreign currency. Pro forma growth rates reflect comparisons that include IntraLase’s performance in the same period of 2006. For more information, see the table entitled “Global Sales” that accompanies this release.

Cataract/Implant sales rose 4.3 percent to $140.2 million.

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Total intraocular lens (IOL) sales rose 8.0 percent to $81.3 million.

 

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Monofocal IOL sales rose 5.4 percent to $66.8 million, reflecting continued strong growth of the Tecnis® IOL franchise.

 

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Refractive IOL sales grew 21.8 percent to $14.5 million, reflecting continued demand for the company’s ReZoom®, Tecnis® Multifocal, VerisyseTM and VeriflexTM IOLs. Compared to the first-quarter of 2007, refractive IOL sales rose 12.6 percent, demonstrating continued market share gains.

 

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AMO’s Healon® family of viscoleastics grew 0.5 percent. Total viscoelastics sales of $32.3 million declined 1.6 percent.

 

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Phacoemulsification sales declined 2.2 percent to $21.7 million, due primarily to anticipated lower equipment sales ahead of the commercial release of the new WhiteStar SignatureTM phacoemulsification system in the third quarter. Surgical pack sales rose 6.4 percent.

Laser Vision Correction (LVC) sales rose 91.2 percent to $102.1 million.

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Pro forma LVC sales increased 17.0 percent.

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Procedures and related sales of $63.6 million represented a 74.9 percent increase, or 25.6 percent on a pro forma basis.

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AMO’s U.S. LASIK procedure volumes grew 13.2 percent and its U.S. custom procedure mix reached 62.4 percent for the trailing 12 months ended June 29.

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AMO’s U.S. femtosecond procedure volumes grew 36.6 percent for the trailing 12 months ended June 29 on a pro forma basis.

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International procedure sales were $16.1 million, which included excimer procedure sales of $5.2 million, up 61.4 percent, and femtosecond procedure sales of $10.9 million, up 98.1 percent on a pro forma basis.

 

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System sales increased 190.5 percent to $28.5 million, or an increase of 6.4 percent on a pro forma basis. On a unit basis, placements of the VISX Star S4 IR® excimer laser rose 47 percent; IntraLase® FS laser placements rose 23 percent on a pro forma basis.

Eye Care sales declined 72.5 percent to $19.0 million.

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AMO estimated that the recall reduced eye care sales by approximately $54 million, including approximately $31 million in returns and an estimated $23 million in lost sales. As a result of the sales returns, the company reported negative multipurpose sales of $7.8 million. The company incurred recall-related costs of approximately $27 million, which were recognized in cost of sales and SG&A expense.

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Hydrogen peroxide sales declined 14.6 percent to $13.6 million, reflecting primarily the continued contraction of this market in Japan.

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