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Missing the Mark

B&L insiders say that aggressive sales practices left distributors overstocked 
at the end of 1993. But CEO Gill approved even higher sales and earnings 
targets for 1994. When distributors balked, sales in many divisions collapsed.

   DIVISION                 1993    1994    1994
                                   Planned  Actual
                                 MILLIONS OF DOLLARS
   TOTAL BAUSCH & LOMB
   SALES                   1872.2  2051.9  1850.6
   OPERATING EARNINGS      300.9   344.7   168.8

   US EYEWEAR
   SALES                   190.1   200.0   153.5
   OPERATING EARNINGS      42.3    48.6    19.7

   US CONTACT LENS
   SALES                   151.0   176.0   85.8
   OPERATING EARNINGS      16.8    20.5    -61.7

   ASIA-PACIFIC
   SALES                   148.9   169.7   107.8
   OPERATING EARNINGS      34.6    46.8    4.0

   DIVISION                 1993    1994    1994
                                   Planned  Actual
                                 MILLIONS OF DOLLARS
   ORAL CARE
   SALES                   68.8    73.0    50.8
   OPERATING EARNINGS      2.6     4.2    -10.3

   MIRACLE EAR**
   SALE                    --      57.9    37.3
   OPERATING EARNINGS      --      2.3    -12.9

   CANADA AND LATIN AMERICA
   SALES                   126.1   154.0   113.4
   OPERATING EARNINGS      17.8    27.3    6.4

   EUROPE, MIDDLE EAST, AFRICA
   SALES                   246.5   249.0   240.6
   OPERATING EARNINGS      60.7    60.3    53.0

*Loss  **Acquired during 1993     DATA: COMPANY REPORTS


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Updated June 13, 1997 by bwwebmaster
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