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In Brief / EARNINGS

Advanced Medical forecasts a loss

June 27, 2007|From Times Wire Services

Advanced Medical Optics Inc. forecast a loss this year after a link to a blinding eye infection forced the recall in May of its MoisturePlus contact lens solution.

The company projected an adjusted deficit of 95 cents to $1.15 a share this year, excluding special items, after withdrawing its earlier profit forecast of $1.40 to $1.55. Analysts in a Bloomberg survey had estimated an average profit of $1.17. The company, based in Santa Ana, also cut its revenue estimate about 9% and lowered its 2008 outlook.

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