Alcon: third-quarter loss widens on charges
(CercleFinance.com) - Alcon's third-quarter loss widened due to amortisation and impairment charges, but the eye-care company saw its markets continue to recover, it said on Wednesday.
The Swiss group said sales for the past quarter were 1.8 billion dollars, down 1% as reported and at constant currencies, compared to the third quarter of 2019.
Its third-quarter operating loss widened to 129 million dollars, including charges of 255 million dollars from the amortisation of intangible assets, 61 million dollars of impairment charges and 48 million dollars of separation costs, the former unit of Novartis said.
Excluding these charges and other adjustments, "core" profit would have been 279 million dollars in the last quarter, it noted.
In another positive sign for the group, Alcon said it saw a "solid" market recovery as both ophthalmology and optometry practices increased their patient flow, particularly in the US.
The shares were up over 4% after this report.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The Swiss group said sales for the past quarter were 1.8 billion dollars, down 1% as reported and at constant currencies, compared to the third quarter of 2019.
Its third-quarter operating loss widened to 129 million dollars, including charges of 255 million dollars from the amortisation of intangible assets, 61 million dollars of impairment charges and 48 million dollars of separation costs, the former unit of Novartis said.
Excluding these charges and other adjustments, "core" profit would have been 279 million dollars in the last quarter, it noted.
In another positive sign for the group, Alcon said it saw a "solid" market recovery as both ophthalmology and optometry practices increased their patient flow, particularly in the US.
The shares were up over 4% after this report.
Copyright (c) 2020 CercleFinance.com. All rights reserved.