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Business & Finance
Advanced Medical Optics reports financial impact of contact lens care products recall
December 24th, 2006
Advanced Medical Optics, Inc. (AMO, EYE) announced the anticipated financial impact associated with the voluntarily recall of certain eye care product lots and the related manufacturing capacity constraints caused by a production-line issue at its manufacturing plant in China. AMO expects the recall to reduce revenue for the remainder of 2006 and 2007 by a total of $40 million to $45 million. This is due to expected product returns, supply shortages and temporary lost market share, primarily in Japan and Asia Pacific where the vast majority of products produced at the China facility are shipped. As a result, AMO now expects its 2006 revenue to be between $985 million...
Source: Medical Devices & Surgical Technology Week (2006-12-24)
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