Bausch & Lomb lowers performance expectations

Bausch & Lomb has lowered its financial performance expectations for 2006 and 2007, citing sluggish contact lens sales in the US and a slower recovery of its lens and lens care business in Asia following the recall of the MoistureLoc solution.

Sales for 2006 are estimated as $2.295bn, compared to guidance at the lower end of a range between $2.325bn and $2.4bn. B&L expects to report full-year 2006 income before taxes of $74m, with cash flow from operating activities to be 'essentially offset by capital spending'.

The company also projected 2007 sales at the lower end of its range of $2.5bn to $2.625bn, with income before income taxes at the lower end of $220m to $270m.