Ocular Sciences: third quarter results

Ocular Sciences, Inc. has announced third quarter net revenue of $82.6 million, up 14% (10% in constant currency) over the same period one year ago. Net income for the quarter was $9.3 million. The third quarter performance compares with net revenue of $72.2 million and net income of $11.8 million for the third quarter of 2002.

For the nine month period ended September 30, 2003, Ocular Sciences reported net revenue of $229.4 million, up 15% (9% in constant currency) from net revenue of $198.7 million for the nine months ended September 30, 2002. Net income during the first nine months of 2003 was $19.4 million, compared with $30.9 million for the comparable period of 2002. It is important to note that net income for the first nine months of 2003 included approximately $0.33 per diluted share of restructuring and related expenses associated with Ocular's manufacturing consolidation program.

Looking to 2004, the Company has established a minimum net revenue growth goal for 2004 of 8%.