Ocular Sciences upturn also for first quarter of 2004
In the first quarter of 2004 Ocular Sciences recorded net global billings of over 80 million dollars, a 14% increase compared to the same period 2003.
'We are very pleased with the results achieved in our three key areas: the growth of our international presence, the extension of our product lines and the reduction in production costs' commented Stephen J. Fanning, President and Ceo of Ocular Sciences. 'Total international sales have increased by 29%. Specifically, European billings grew by 28% and those for Japan by 29%. We therefore continue to be the contact lens producer that records the most significant growth in these two territories, considered to be the second and third largest contact lens markets worldwide.'
Major growth areas primarily concern monthly toric contact lenses and daily contact lenses. Sales of these two products have shown a continued and very much faster increase than their respective global market segments. 'Billings for toric lenses have increased by 70%, almost double compared to market growth: they currently represent over 10% of our global billings' Fanning continued. 'Billings for daily contact lenses have grown by over 50% and currently represent 17% of our global billings.
'In the first quarter of 2004 investments in research have continued with the development of new products. A new contact lens will be launched soon and will have excellent marketing backup. The new lens, which gives better vision and comfort, has been designed with non-spherical optics and a rounder edge. It is the first of various new products that Ocular Sciences will launch next year' Fanning added.
'The demand for contact lenses is constantly increasing and our products, especially in the toric and daily segments, have met with considerable success' stated John Fruth, president of the board of directors of Ocular Sciences. 'Our new contact lenses will also meet with the same considerable success and they will generate sound overall growth in the not too distant future.'
