Advanced Medical profit disappoints, cuts outlook

CHICAGO (Reuters) - Advanced Medical Optics Inc EYE.N posted lower-than-expected quarterly earnings on Monday and cut its 2008 profit forecast as the weak U.S. economy hurt demand for LASIK vision-correction procedures.

The maker of eye-care products and lasers to correct vision said second-quarter net income was $22.0 million, or 35 cents a share, compared with a loss of $166.8 million, or $2.78 a share, a year earlier.

Excluding special items, Advanced Medical earned 24 cents a share. On that basis, analysts' average forecast was 27 cents a share, according to Reuters Estimates.

Sales rose 22.6 percent to $320.5 million.

Advanced Medical cut its forecast for full-year earnings to a range of $1.00 to $1.15 per share before special items, down from a prior forecast of $1.25 to $1.45. It cited a reduced outlook for vision-correction procedures.

Shares of Advanced Medical closed Friday at $17.20 on the New York Stock Exchange.

(Reporting by Susan Kelly; editing by John Wallace)