Advanced Medical Optics has cut its outlook for 2007 and 2008 to reflect the recent recall of its Complete MoisturePlus.
It lowered its 2007 projected revenue to $1.05-1.07bn, down from the previous range of $1.15-$1.18bn. For 2008, AMO forecast sales of $1.23-1.25bn down from a forecast of $1.35-1.37bn.
As well as lost solutions sales, the guidance reflects costs associated with introducing a new multipurpose solution later this year, tax impacts and higher interest expenses.
AMO chairman Jim Mazzo said: 'While the near-term financial implications of the recall are significant, I am confident we have taken the appropriate steps and are now well positioned to turn our attention to re-entering the multipurpose market before the end of the year.'