Advanced Medical Optics (EYE)

Below is a summary of sales performance by business for the fourth-quarter and full-year 2008.  For more information, see the “Global Sales” table that accompanies this release.

·                  Cataract sales rose 3.8% to $143.3 million in the fourth quarter, including a 4.1% decline related to foreign currency exchange rate effects.  The increase was driven by strong monofocal IOL and viscoelastic/phacoemulsification sales.  For 2008, Cataract sales rose 8.8% to $541.6 million, including a 3.9% increase related to foreign currency exchange rate effects and reflecting growth in all major product categories and geographies.

·                  Refractive sales declined 24.8% to $87.1 million in the fourth quarter, including a 1.9% decline related to foreign currency exchange rate effects.  Strong fourth-quarter performance in Japan was overshadowed by softness in other geographies, where declines in discretionary consumer spending affected procedure volumes and system sales.  The company’s fourth-quarter share of the U.S. laser vision correction procedure market was approximately 62%, which was unchanged versus the prior quarter, according to Market Scope.  For 2008, AMO’s Refractive sales were roughly flat, including a 0.9% increase related to foreign currency exchange rate effects.  The 2008 sales performance reflected soft U.S. sales, growth in international sales and full-year benefit of the 2007 IntraLase and WaveFront Sciences acquisitions.

·                  Eye Care sales rose 8.3% to $54.7 million, including a 1.2% increase related to foreign currency exchange rate effects and driven primarily by strong multipurpose sales and the addition of artificial tears to the company’s offering.  For 2008, eye care sales rose 29.5% to $221.6 million, including a 7.0% increase related to foreign currency exchange rate effects and reflecting primarily growth in multipurpose solution sales as Eye Care recovered from the recall.