Alcon's income down 22% to $232M in 3rd-qtr

Switzerland's Alcon, a specialist developer of products for the eye care market, says that its third-quarter profits were $232.1 million, or $0.76 per share, down 22% from the $295.8 million it recorded in the year-earlier period. The company said that the decline was as a result of a $125.7 million impairment charge related to intangible assets of its refractive laser business.

Alcon however, maintained a positive outlook, citing the $1.20 billion in revenues, up 12.4%, as a key indicator of its future performance. The firm added that sales of its glaucoma treatment products, specifically Travatan opthalmic solution and Azopt opthalmic suspension, had helped push its pharmaceutical sales up 13% to $496.7 million in the period. As a result, the company raised its full-year earnings per share guidance to between $4.51 and $4.55, from the $4.13 to $4.23 range it had forecast earlier.