Santa Ana-based Advanced Medical Optics Inc., a maker of eye surgery products and contact lens cleaners, posted higher second-quarter sales as acquisition and research costs hit operating and net income.
Boosted by acquisitions, Advanced Medical’s sales rose 35% from a year ago to $227 million. Favorable exchange rates boosted sales by about 3%, the company said Wednesday.
Advanced Medical posted an operating loss of $423 million for the quarter with $456 million in acquisition costs and a write-off of research and development. Excluding those, Advanced Medical earned nearly $14 million.
The results met Wall Street’s revised expectations for profits after charges and beat its sales forecast of $220 million.
In June, Advanced Medical told analysts their expectations for the second quarter were too high.
Sales were helped by last year’s buys of Visx Inc., a Santa Clara-based maker of laser devices to correct vision, and Pfizer Inc.’s cataract surgery business. Sales of Advanced Medical’s products also grew in the quarter, the company said.
Advanced Medical backed is year-end guidance of sales of about $925 million and profit of about $60 million.
