Bausch + Lomb Turns To Q3 Profit; Raises Full-year Revenue Outlook

(RTTNews) - Bausch + Lomb Corporation (BLCO), an eye health company, Wednesday reported net income of $4 million or $0.01 per share for the third quarter, compared with net loss of $84 million or $0.24 per share in the same quarter a year ago, primarily due to benefit from income taxes.

For the quarter, the company recorded an income tax benefit of $66 million compared with a provision for tax of $45 million in the same period last year.

Excluding one-time items, earnings were $0.17 per share.

Revenue for the quarter increased to $1.196 billion from $1.007 billion in the previous year.

Looking ahead, the company has raised its revenue outlook to $4.725 billion - $4.825 billion from $4.7 billion - $4.8 billion.