Alcon reported a net loss of $390 million, or $0.80 per share, in 2019’s second quarter compared with a net income of $15 million, or $0.03 per share, in the second quarter of 2018.
Following a June 30 Swiss Tax Reform and Old Age Insurance financing bill, the company’s Swiss deferred tax assets and liabilities were remeasured. This non-cash tax expense accounted for $301 million, or $0.61 per share, in diluted losses.
In addition, Alcon’s separation from Novartis, which was completed in April, accounted for $78 million in operating loss.
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