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Earnings Review – Oct 31
By: iStockAnalyst   Friday, October 31, 2008 12:29 PM

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stock chart Advanced Medical Optics (NYSE:EYE) today announced financial results for the third quarter of 2008. Third-quarter net sales rose 1.0% to $275.6Mn; including a 2.7% increase related to foreign currency exchange rate effects. While, net profit was $7.1Mn, or $0.11 per diluted share. In the year-ago period, the company reported a GAAP net loss of $25.9Mn, or a loss of $0.43 per share, which reflected the impacts of the May 2007 eye care recall. During the quarter, the company continued to execute previously announced restructuring plans designed to deliver approximately $4Mn to $7Mn in 2008 savings and, when fully implemented, to deliver between $12Mn and $16Mn in annualized savings. The Eye Care segment sales rose 19.1% to $50.2Mn, contributing the highest growth for the company. AMO expects 2008 sales in the range of $1.17Bn to $1.20Bn and adjusted 2008 EPS in the range of $0.70 to $0.80.

stock chartBurger King Holdings (NYSE:BKC) the company posted strong revenues for the first quarter of $674Mn, up 12% from $602Mn in the same quarter last year. For the quarter, the company reported earnings per share of $0.36 compared to $0.35 in the same quarter last year. Adjusted earnings per share, excluding $3Mn of adjustments, increased 9%% to $0.38 compared to $0.35 in the year ago period. These adjustments consisted of expenses related to the previously announced acquisition of 72 franchise restaurants, specifically settlement charges and start-up costs. In the first quarter, the company increased its worldwide net restaurant count by 67, led by its international markets in Europe and the Middle East. During the last 12 months, the company opened a total of 342 net new restaurants. In the fiscal year of 2009, the company plans to open 350 to 400 restaurants. The North American segment contributed a 14% growth to the sales while Latin America which is still a minor contributor to the total revenues saw a 19% growth.

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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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