Advanced Medical Optics Inc., a Santa Ana-based maker of contact lens and eye surgery products, cut its earnings estimates for the year on Monday but upped its 2007 sales guidance on plans to focus more on surgery products.
The company reduced its projected 2005 profit to $96 million to $100 million, down from $109 million to $116 million.
Advanced Medical kept its sales projection for the year, $920 million to $930 million.
The company also held its 2006 outlook of $145 to $152 million in profit on sales of $1.02 billion to $1.04 billion.
For 2007, the device maker raised its sales outlook to $1.1 billion to $1.12 billion, up from $1.08 billion to $1.1 billion. Advanced Medical kept its profit guidance at $175 million or more for 2007.
The company said it plans to discontinue non-core cataract and eye care products by the end of this year to focus on its profitable core lens implant and laser surgery business.
Advanced Medical also said it would give more details in early November, along with its third-quarter earnings.
