National Vision Holdings, Inc. Reports Q2 Quarter Gains and Higher Comp Store Sales

By Staff
Wednesday, August 7, 2019 12:27 AM DULUTH, Ga.—National Vision Holdings, Inc. (NASDAQ: EYE) reported net revenue climbed 11.4 percent to $429.5 million for the second quarter ending June 29, compared to $385.5 million for the second quarter of 2018. Comparable store sales growth was 4.4 percent for the quarter, the 70th consecutive quarter of comp store gains, while adjusted comparable store sales growth was 3.8 percent. The company reported net income of $10.3 million for the second quarter, while adjusted net income rose 3.6 percent to $16.3 million.

Allergan Reports Flat Sales in Second Quarter, But Raises Forecasts for Full Year 2019

By Staff
Wednesday, August 7, 2019 12:21 AM DUBLIN—Allergan plc (NYSE: AGN) reported Tuesday that second quarter GAAP revenue totaled $4.09 billion, a 0.8 percent decline from the year-ago period, but after excluding the impact of currency exchange impact revenues rose 1.2 percent in the quarter. The company also reported a GAAP operating loss in the second quarter of $1.26 billion, including the impact of impairments. This compares with an operating loss of $467 million in the year-ago period.Allergan is in the midst of being acquired by AbbVie Inc. in a deal valued at $63 billion, as VMAIL reported.

NovaBay Pharmaceuticals Reports Increase in Sales of Avenova

By Staff
Tuesday, July 30, 2019 12:21 AM EMERYVILLE, Calif.—NovaBay Pharmaceuticals Inc. (NYSE American: NBY), a biopharma company focused on commercializing Avenova for the domestic eyecare market, reported net sales of $1.8 million for the second quarter ended June 30. Avenova’s sales in this three-month period were $1.6 million, a 9 percent increase from the first quarter of 2019, according to the company’s announcement Monday. Avenova, which is formulated with a proprietary, stable and pure form of hypochlorous acid, is designed for removal of the microorganisms and debris that contribute to conditions such as meibomian gland dysfunction, dry eye and blepharitis, according to NovaBay.

Kering Eyewear Reports Strong Sales Gains in First Half

By Staff
Friday, July 26, 2019 12:21 AM PADOVA, Italy—Against the backdrop of a strong financial performance in the first six months of the year for Kering Group, the luxury company cited "another excellent performance" from Kering Eyewear. According to the company's results issued yesterday, Kering Eyewear’s sales rose sharply in the first half of 2019 to €320.8 million, fueled by the success of its Gucci, Saint Laurent and Cartier brands, and by its takeover of the Montblanc and Balenciaga licenses, it was reported. In addition, Kering Eyewear's contribution to the group’s consolidated revenue for the period amounted to €259.4 million, up 20.7 percent on a comparable basis (after eliminating intra-group sales and royalties paid to the Group’s Houses). Kering Eyewear’s profitability progressed significantly.

Nicox Reports Rise in Net Revenue for 2Q 2019

By Staff
Friday, July 19, 2019 12:18 AM SOPHIA ANTIPOLIS, France—International ophthalmology company Nicox (Euronext Paris: FR0013018124, COX) reported net revenue of €5.2 million in the second quarter ending June 30, 2019 versus €0.2 million in the second quarter of 2018. The Nicox Group had cash and cash equivalents of €17.3 million as compared with €23.5 million at March 31, 2019 and €22.1 million as of Dec. 31, 2018. These cash and cash equivalents do not include the €2 million upfront payment from Ocumension nor the $3 million milestone payment from Eyevance received in July, the company said.

Takeda Completes Sale of Xiidra to Novartis

By Staff
Monday, July 8, 2019 12:24 AM OSAKA, Japan—Takeda Pharmaceutical Company (TSE:4502/NYSE:TAK) announced last week that it completed the sale of its Xiidra (lifitegrast ophthalmic solution) 5 percent product to Novartis for $3.4 billion upfront in cash and up to an additional $1.9 billion in potential milestone payments. VMail first reported news of the pending deal in May. “The completion of this transaction marks an important step in executing Takeda’s strategy, which is focused on optimizing our portfolio around the key business areas that are core to our long-term growth and creating the most value for our patients and shareholders,” said Christophe Weber, president and CEO of Takeda.

AbbVie to Acquire Allergan in $63 Billion Deal

By Staff
Tuesday, June 25, 2019 9:30 AM NORTH CHICAGO, Ill. and DUBLIN—AbbVie Inc. (NYSE: ABBV) and Allergan plc (NYSE: AGN) have entered into a definitive transaction agreement under which AbbVie will acquire Allergan in a cash and stock transaction for a transaction equity value of approximately $63 billion, based on the closing price of AbbVie's common stock of $78.45 on June 24, 2019. The deal, which was announced by the two companies this morning, is worth about $80 billion including debt, according to The Wall St. Journal.

Sheridan Capital Partners Invests in Atlantic Vision Partners

By Staff
Friday, June 14, 2019 12:21 AM CHICAGO—Sheridan Capital Partners announced its investment in Atlantic Vision Partners (AVP), a vision practice management company. In the transaction, Sheridan invested alongside AVP’s founders and management, who will retain “a meaningful ownership stake” in the business, according to the announcement. “AVP has achieved meaningful scale in its geography,” said Jonathan Lewis, partner of Sheridan Capital Partners. “The company has grown significantly due to the team’s focus on clinical excellence and its ability to attract strong provider talent to the platform.”

Safilo Signs an Agreement to Sell Solstice Retail Business to Fairway LLC

By Staff
Friday, May 24, 2019 8:30 AM PADUA, Italy—Safilo Group S.p.A. has reached an agreement to sell its U.S. retail chain Solstice to Fairway LLC.

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.