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news.Alcon, a global medical company specializing in eye care products, has reported sales of $1.72bn for the first quarter ended March 31, 2010, an increase of 15.3%, compared to $1.49bn for the comparable period in 2009.
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Alcon posted a net income of $573m for the first quarter 2010, or $1.89 per diluted share, compared to $452m, or $1.51 per diluted share, for the prior year period. Operating income was $653m, compared to $514m for the year ago period.
Alcon expects organic sales growth to be in mid-to-high single digits, while earnings per share are expected to be in the range of $7.30 to $7.55 for 2010. The on-going impact of health care reform is expected to reduce 2010 sales by $20m and earnings per share by $0.06.
Kevin Buehler, president and CEO of Alcon, said: “Our first quarter results reflect another strong quarter with solid sales growth driven by continued market share gains in most major product categories, balanced contributions from all geographic regions and generally improved market conditions.
“Through the focused efforts of our entire organization, we also were able to translate that sales performance to faster growth in operating and net profit. With this start to the year, we are on track to post solid results in 2010 that reflect sustainable organic growth and operational leverage.”