'Revenues were somewhat lower than our expectations as a result of further deterioration in currency rates since August and the timing of laser installations.' 'The results we reported today were, on the whole, in line with the updated guidance we issued earlier in the quarter,' William Carpenter, Bausch & Lomb's chairman and chief executive officer, said. The surgical segment saw a 4-per-cent rise in sales.Ĭombined lens-care and vision accessories revenues were down 8 per cent because of the expected slowing in the U.S. Shares opened off slightly to $38-7/8, down 3/16 on the New York Stock Exchange, above its 52-week low of $33-9/16 and well below a year high of $80-7/8.Ī 2-per-cent fall in the company's vision care sales and an 8-per-cent drop in revenue at the pharmaceuticals business slowed Bausch & Lomb quarterly profits. Fifteen analysts polled by research firm First Call/Thomson Financial lowered the consensus earnings forecast to 70 cents a share from 93 cents.īausch & Lomb stock, which lost more than one-third of its value on the late summer, has failed to rebound. 24 that demand for lens-care products would lead to flat or slightly lower revenue for the rest of the year. The 147 year-old company's operating earnings matched Wall Street estimates that were significantly cut after the company warned on Aug. Including unusual items, net earnings were $14.7-million, or 27 cents per share, compared with $231.8-million, or $3.94 per share, in the same period last year. Revenue from continuing operations slipped to $440.9-million from $446.3-million. The eyecare company reported income from continuing operations for the third quarter of $37.8-million, or 70 cents a share, excluding certain charges, compared with $37.3-million, or 64 cents a share, a year earlier.

Bausch lomb inc