Advanced Medical Optics Inc. said Thursday that its first-quarter profit before charges met Wall Street’s expectations and affirmed its full-year profit guidance.
The Santa Ana maker of eye care devices and contact lens solutions saw its shares rise 11.5% at the close of New York trading with a market value of $1.4 billion.
Prior to onetime charges related to restructuring, Advanced Medical earned $13.3 million in the quarter, in line with analysts’ expectations.
Including charges, Advanced Medical earned $6.9 million, down 43% from 2007’s first quarter.
First-quarter sales shot up 20.7% to $303.7 million, including a 55% sales hike in refractive eye surgery.
Advanced Medical also affirmed its prior full-year profit forecast of $75.9 million to $88 million.
Wall Street expects Advanced Medical to post a profit of $77.1 million this year.
