Contact lens maker Bausch + Lomb Corporation reported third-quarter earnings that surpassed Wall Street projections, even as the company posted an $84 million loss.
On an adjusted basis, accounting for amortization and pretax expenses, the company earned 22 cents per share, beating the average analyst estimate of 18 cents per share.
The Vaughan, Ontario-based group also reported revenues of $1.01 billion for the quarter, exceeding the Street's expectations of $986.9 million.
“We continue to grow revenue at or above market thanks to the strength of established and emerging brands that cover the entire spectrum of eye health,” said chairman Brent Saunders.
“Our multi-year effort to rewire the company is gaining traction as we methodically review and improve areas critical to our success, with a focus on sales and supply chain.”
Looking ahead, B+L anticipates full-year revenues to fall within the range of $4.04 billion to $4.09 billion.
Early in the session, the shares were up 3.2% at $16.66.