EssilorLuxottica Posts Solid Gains in 1Q 2019

By Staff
Wednesday, May 8, 2019 12:30 AM CHARENTON-LE-PONT, France—EssilorLuxottica (Reuters: ESLX.PA) posted a solid first quarter financial performance, despite the battle over governance being fought among its top management which has lowered its stock price and has raised questions about the company’s management structure. Yesterday, EssilorLuxottica reported consolidated revenue for the first quarter ending March 31, 2019 totaling €4,210 million, representing a year-on-year increase of 7.5 percent compared to Q1 2018 pro forma revenue (+3.7 percent at constant exchange rates).

Allergan Reports First-Quarter Sales Decline, But Raises Full-Year Revenue Guidance

By Staff
Wednesday, May 8, 2019 12:27 AM DUBLIN—Allergan plc (NYSE:AGN) reported Tuesday that its first quarter net revenues (on a GAAP basis) declined 2 percent to $3.60 billion compared with year-ago results. The company also reported an operating loss of $2.4 billion in the quarter ended March 31, which compared with an operating loss of $654 million in last year’s first quarter. In addition, Allergan raised its full-year 2019 guidance for net revenue to a range of $15.1 billion to $15.4 billion in Tuesday’s announcement, due in part to the expectation of regulatory approvals over the next several months.

Zeiss Group’s Revenue Rises 9 Percent in 1Q FY 2018/19

By Staff
Wednesday, May 8, 2019 12:24 AM OBERKOCHEN, Germany—The Zeiss Group posted €3.019 billion in revenue for the first six months of the fiscal year 2018/19 ending March 31, 2019, a 9 percent increase over the prior year. Ninety percent of the revenue was generated by markets outside Germany, according to Zeiss. Earnings before interest and tax (EBIT) of €443 million were significantly higher than the €380 million generated the prior year. The EBIT margin rose to 14.7 percent and incoming orders hit EUR €3.161 billion, up from €2.839 billion in the first half of 2017/18, Zeiss said.

Bausch Health Says First Quarter Results Highlighted by Strong B+L Performance

By Staff
Wednesday, May 8, 2019 12:21 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) reported that its first-quarter revenues totaled $2.016 billion, an increase of about 1 percent (or $21 million) compared with $1.995 billion in the first quarter of 2018. Excluding the unfavorable impact of foreign exchange ($59 million), the impact of 2019 acquisition ($6 million) and the impact of 2018 divestitures and discontinuations ($18 million), revenue grew organically by 5 percent. The growth was driven by organic growth across the Bausch + Lomb/International and Salix segments, the company said in its announcement.

Continued Growth Seen for Carl Zeiss Meditec in First Half of Fiscal 2018/19

By Staff
Tuesday, May 7, 2019 12:18 AM JENA, Germany—In the first half of fiscal year 2018/19 Carl Zeiss Meditec generated revenue of €667.2 million, representing an increase of 8.7 percent, or 6.8 percent adjusted for currency effects, versus the same period in the prior year. Earnings before interest and taxes (EBIT) increased significantly to €110.4 million, versus €88.2 million a year ago. The EBIT margin also increased, to 16.5 percent compared with 14.4 percent the prior year. “In the first half of 2018/19, we have continued on our growth path, with a strong contribution from new products and a high level of recurring revenue,” commented Dr. Ludwin Monz, president and CEO of Carl Zeiss Meditec AG.

Kering Cites ‘Robust Performance’ for Kering Eyewear in First Quarter

By Staff
Thursday, April 18, 2019 12:24 AM PARIS—The Kering Group ( KER.PA) cited the "very robust" performance of its Kering Eyewear business within the French luxury group's first quarter financial report. Kering stated that Kering Eyewear reported a 23 percent comparable increase in consolidated sales to €128.4 million, "underpinned by the excellent performance of Gucci eyewear and the successful launches of the Balenciaga and Montblanc collections." Overall, the Kering Group revenues for the first quarter rose 21.9 percent (17.5 percent on a comparable basis) to €3,785.3 million, on the strength of its apparel, jewelry and related accessories in the Gucci house, Saint Laurent and others such as Balenciaga and Alexander McQueen.

Alcon Debuts as a Public Company as Shares Begin Trading on New York and Swiss Exchanges

By Staff
Wednesday, April 10, 2019 12:24 AM GENEVA, Switzerland—Alcon announced Tuesday that it has completed its separation from former parent company Novartis and has debuted as an independent, publicly traded company. Alcon’s shares began trading Tuesday on the SIX Swiss Exchange and New York Stock Exchange (NYSE) under the symbol “ALC.” On its first day, and with more than 10 million shares changing hands, Alcon closed at $58.33. That price is above the $40 to $50 range some analysts had expected, and it would place a value on the company of about $29 billion, according to Barrons.com.

NovaBay Invests $5 Million to Support U.S. Avenova Commercialization Strategy

By Staff
Tuesday, April 2, 2019 12:21 AM EMERYVILLE, Calif.—NovaBay Pharmaceuticals (NYSE American: NBY) announced that it is investing $5 million to support the recent strategic shift in its U.S. commercialization strategy aimed at driving sales growth for its Avenova lid and lash cleaner while maintaining cost effectiveness. The investments include a convertible loan of $2.0 million from Ascendiant Capital Markets and Chicago Venture Partners. Additionally, Triton Funds LP has committed to making an equity investment of up to $3 million, the company said in a statement.

Treehouse Eyes Completes Series Seed Financing

By Staff
Tuesday, March 19, 2019 12:15 AM BOULDER, Colo.—Treehouse Eyes, a startup focused on treating childhood myopia, has closed on a privately led Series Seed financing round. The company, based here, said it will use the funds to expand its geographic footprint in the U.S. and open more myopia treatment centers. Terms of the round were not disclosed. Launched in late 2016, Treehouse Eyes has dedicated myopia management centers in the metro D.C. market with hundreds of myopic children already in treatment.

The Cooper Companies Reports 'Strong Start' to Year as Revenue Increases 6 Percent in First Quarter

By Staff
Wednesday, March 6, 2019 12:24 AM PLEASANTON, Calif.—The Cooper Companies Inc., (NYSE:COO) a leading vision care company, reported Tuesday that companywide revenue for its first quarter, which ended Jan. 31, increased 6 percent year-over-year to $628.1 million. The CooperVision (CVI) segment, which includes the company’s contact lens portfolio, achieved 6 percent growth in revenue, which totaled $470.1 million in the period. The CooperSurgical (CSI) saw its revenue climb 9 percent to $158.0 million, according to the announcement. The company said its diluted earnings per share (on a GAAP basis) totaled $2.07, an increase of 182.6 percent from the year-ago first quarter.

Strong Performance of Kering Eyewear Cited in Kering Group's 'Excellent' 2018 Results

By Staff
Wednesday, February 13, 2019 12:27 AM PADOVA, Italy—Kering Group, the global luxury group overseeing fashion brands Gucci and Saint Laurent, among others, reported strong financial results for 2018 on Tuesday, and noted the “excellent performance” of its Kering Eyewear segment in the period. The company noted that Kering Eyewear sales in 2018 were driven by Gucci and by the success of the new Cartier collection, according to an announcement. “2018 was an excellent year for Kering and its houses,” chairman and chief executive officer François-Henri Pinault said in the announcement.

At Final Meeting, Luxottica Board Highlights Company’s ‘Renewal’ and Strong Period of Performance Under Del Vecchio

By Staff
Thursday, January 31, 2019 12:27 AM MILAN—The board of directors of Luxottica Group S.p.A., meeting here Wednesday for the last session before the company delists from the Italian stock exchange on March 5, used the occasion to acknowledge the company’s strong performance over the 2015-2018 period and to identify the significant strategic initiatives it has executed and which have helped the company attain its leading market position. The stock delisting and final board meeting follow the formation of the new EssilorLuxottica company on Oct. 1, 2018, as VMAIL reported.

Novartis Reports 2018 Results and Says Alcon Is Positioned for ‘Sustainable’ Growth as Standalone Entity

By Staff
Thursday, January 31, 2019 12:24 AM BASEL, Switzerland—Novartis (NYSE: NVS) reported Wednesday that its net sales and core net income grew at a single-digit percentage rate in the fourth quarter, and that it remains on track to spin-off its Alcon eyecare business unit in the first half of this year. Net sales totaled $13.3 billion in the fourth quarter, an increase of 3 percent (6 percent at constant currency rates), driven by volume growth of 9 percent mainly from prescription drugs Cosentyx and Entresto, oncology treatments and the Alcon segment, the announcement noted. Strong volume growth was partly offset by the negative impacts of pricing (-2 percentage points) and generic competition (-1 percentage point).

Safilo Group’s Net Sales Fall 4 Percent in 2018

By Staff
Thursday, January 31, 2019 12:21 AM PADUA, Italy—Safilo Group S.p.A. reported preliminary net sales of €962.9 million for the financial year ended Dec. 31, 2018, a 4.0 percent decrease from year ago at constant exchange rates and a 7.0 percent drop at current exchange rates. This performance is substantially in line with the expectation formulated by the Group on net sales for the year. In Europe, which accounts for nearly half of Safilo’s revenue, net sales totaled €452 million, flat with 2017 at constant exchange rates, but down 1.2 percent at current rates.

EyePoint Pharmaceuticals Added to NASDAQ Biotechnology Index

By Staff
Monday, January 28, 2019 12:15 AM WATERTOWN, Mass.—EyePoint Pharmaceuticals (NASDAQ: EYPT), a specialty biopharma developing innovative ophthalmic products, has been added to the NASDAQ Biotechnology Index (NASDAQ: NBI). The move became effective late last month. The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on the NASDAQ market that are classified as either biotech or pharmaceutical, according to the Industry Classification Benchmark (ICB). In a commercial update issued earlier this month, EyePoint said it expects to launch the two new products—Yutiq and Dexycu—in the first quarter, as VMAIL reported