In the third quarter of 2020, Alcon’s vision care division, which includes the contact lens and ocular health businesses, posted net sales of $822 million, unchanged from a year earlier at current and constant currency rates. The company said that strong performances by Precision1, its newest daily silicone hydrogel (SiHy) contact lens, Pataday drops for allergy relief and Systane drops for dry eye were offset by declines in other daily disposable lenses, artificial tears and contact lens care.
Sales of contact lenses fell to $517 million from $518 million a year earlier and revenues for ocular health inched up to $305 million from $304 million
At group level, total sales reached $1.8 billion, down by 1 percent on a reported basis and at constant currency rates.
The company’s operating loss was $129 million. It included charges of $255 million from the amortization of certain intangible assets, $48 million of separation costs from Novartis, $61 million of impairment charges and $14 million of transformation program costs. On an adjusted basis, the operating income was $279 million, resulting in a core operating margin of 15.3 percent against a 17.4 percent a year earlier.
Alcon, posted a diluted loss of $0.30 per share, compared with a loss of $0.14 a year earlier. On adjusted basis, it posted a diluted profit per share of $0.39, against earnings per share of $0.46 the previous year.
Due to the uncertainty regarding the duration of the Covid-19 pandemic, the company did not provide a full-year guidance.