Bausch & Lomb's
profit rose by almost 50% in the second quarter, thanks partly to the success of new products, while the contact lens maker also boosted 2004 earnings guidance.
The Rochester, N.Y.-based company said Thursday it had net income of $41.4 million, or 76 cents a share, vs. $28.3 million, or 53 cents a share, a year ago. The consensus estimate was 64 cents a share, according to Thomson First Call.
Revenue rose 11% to $566.5 million for the quarter ended June 26. U.S. revenue was $225.6 million, up 10% from the year-ago period.
"We're starting to see the top-line contributions from recent product introduction," the company said. "With more of those in the pipeline, we have good reason to be optimistic about our future growth prospects."
The company increased full-year EPS guidance to $2.80 to $2.85, vs. its previous forecast of $2.70 to $2.75. Analysts are expecting $2.74 a share.
Shares rose a penny to $58.69 in premarket trading.