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Tuesday, May 24, 2022

Glaukos Coronavirus Moves

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Glaukos Corp. in San Clemente this week issued operational changes due to the coronavirus.

As with many companies, the eye care drug and device maker withdrew quarterly and annual guidance issued in late February and didn’t offer new numbers; it ‘plans to provide additional information’ if practical during a first quarter conference call in May.

Manufacturing and assembly shifts have been reworked into smaller groups working shorter periods ‘to minimize the time any one individual is required to be onsite.” Distribution and other activities are also being affected. An S&P Global report this week said Glaukos is under-performing peers on supply chain issues related to coronavirus.

Chief Executive Tom Burns expects short-term impact as some countries and regions defer medical procedures; he said the company is acting to “preserve near-term and future growth … support customers and” cut costs.

Glaukos (NYSE: GKOS) had $183 million in cash and cash equivalents at the end of 2019 and no debt.

Go here for more updates on how OC companies are responding to coronavirus.

For ongoing, in-depth coverage of coronavirus effects on OC businesses, see the Monday print edition of the Business Journal.

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