SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549


FORM 8-K


CURRENT REPORT



Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934


Date of Report (Date of earliest event reported):   October 13, 1994


BAUSCH & LOMB INCORPORATED
(Exact name of Bausch & Lomb as specified in its charter)


New York
(State or other jurisdiction of incorporation)

1-4105
(Commission File Number)


16-0345235
(I.R.S. Employer Identification No.)


One Chase Square, Rochester NY            14601-0054
(Address of principal executive offices)     (Zip Code)


Bausch & Lomb's telephone number, including area code:   (716) 338-6000


Inapplicable
(Former name or former address, if changed since last report).




BAUSCH & LOMB THIRD QUARTER SALES & EARNINGS



BAUSCH & LOMB REPORTS A DECLINE IN REVENUES AND NET EARNINGS FOR 1994 
THIRD QUARTER


RESULTS CONSTRAINED BY REDUCTION OF DISTRIBUTOR INVENTORIES AND OTHER 
STRATEGIC ACTIONS



Bausch & Lomb announced on October 12, 1994 it had achieved further 
substantial progress in its previously disclosed efforts to reduce an 
imbalance in distributor inventories of traditional contact lenses and 
sunglasses during its third quarter ended September 24, 1994.  It has 
also implemented new pricing and product return actions to significantly 
improve the competitiveness of its traditional contact lens business in 
the U.S., and has taken steps to exert stronger control over the 
distribution of Ray-Ban sunglasses in Southeast Asia.  These two recent 
initiatives with an estimated cost of approximately $.40 per share in 
the last six months of 1994, were not anticipated or included in the 
company's discussion of its financial outlook in its Form 10-Q filed on 
August 9, 1994.  However, the company believes these actions will 
contribute to an improvement in performance anticipated in 1995.

Consolidated revenues for the third quarter declined 10% to $449 
million compared to $499 million in the same quarter one year ago.  Upon 
implementation of the new actions developed in the third quarter, the 
company estimates it will have reduced the level of excess distributor 
inventories to approximately $10 million versus a level of $45 million 
at the end of June.  Net earnings for the third quarter declined to $8 
million compared to $56 million in 1993, while earnings per share were 
$.13 versus $.93 in the prior year.  For the first nine months of 1994, 
sales totaled $1,372 million, 1% below the prior year's $1,386 million.  
Net earnings decreased to $76 million compared to $136 million for the 
same period in 1993, while earnings per share were $1.28 versus $2.25.

Commenting on the two businesses primarily responsible for the company's 
weak performance in 1994, Bausch & Lomb provided the following 
information:


CONTACT LENS PRODUCTS

Worldwide contact lens revenues declined $35 million or 41% from the 
third quarter of 1993.  This decline was almost solely attributable to 
U.S. operations, where the company established a sales reserve of 
approximately $20 million in the quarter to provide for a recently 
planned reduction in prices for standard Optima brand contact lenses 
sold in glass vials to distributors and the decision to allow U.S. 
distributors to return the excess portion of their unsold traditional 
lens inventories.  This new pricing policy enhances Bausch & Lomb's 
competitiveness in this segment of the market.  Through these actions, 
the company will eliminate the inventory imbalance.  Contact lens sales 
comparisons in the third quarter also reflected the absence of new 
product introductions and the company's decision to discontinue 
distributor promotions in 1994, both of which benefited U.S. lens 
shipments in the year-ago period.

Contact lens revenues in markets outside the U.S. increased 12% over the 
1993 quarter.  The Japanese and European contact lens businesses 
continued to improve during the period, and good demand for lenses used 
in planned replacement programs was experienced in Asia.


SUNGLASS PRODUCTS

Sunglass revenues declined approximately $29 million or 21% from the 
year-ago third quarter.  Excess distributor inventories are estimated to 
have dropped from $25 million at the end of the 1994 second quarter to 
just over $10 million at September 24.  The company also incurred a 
sales penalty estimated at more than $5 million to realign relationships 
with distributors in Southeast Asia.  Excluding these actions, sunglass 
revenues would still have experienced a moderate decline from the prior 
year, a development which the company attributes to a global movement 
towards lower sunglass inventories at both wholesale and retail levels.  
This is in the wake of the previously announced tightening of the 
company's marketing and sales policies around the world.  Recent data 
from independent market surveys and other sources confirm that the 
company's market shares remain strong in the U.S. and other key markets.


THIRD QUARTER RESULTS

Healthcare Segment

Consolidated healthcare segment sales for the 1994 third quarter totaled 
$298 million, a decline of 8% from the 1993 total of $325 million.  
Included in these results is the decline in U.S. contact lens revenues 
discussed earlier.  Healthcare segment revenues for the first nine 
months of 1994 rose 4% to $892 million compared to $855 million for the 
same period a year ago.

Within the personal health sector, revenues were essentially even with 
results in the third quarter of 1993.  Sales of contact lens care 
products increased 11% in response to good demand for the ReNu and 
Boston lines in the U.S. and Europe.  Results for the personal health 
sector also reflected higher shipments of general eyecare products.  
These results were offset by a decline in oral care revenues which 
stemmed from lower shipments of soon-to-be discontinued models of 
Interplak power toothbrushes and the reduction of prices to better 
position Interplak products in the U.S.

In the medical sector, third quarter revenues declined by 25% from 1993.  
Worldwide ophthalmic pharmaceutical revenues improved 31% over the same 
period last year.  Higher shipments of new products contributed to 
revenue growth of more than 25% for U.S. pharmaceutical operations in 
the quarter, while in the company's European pharmaceutical operations, 
revenues grew 37%.  Medical sector revenues also benefited from 
increased sales of Steri-Oss dental implants, which rose more than 15% 
in the period, and incremental sales from the Miracle-Ear line of 
hearing aids, acquired in the third quarter of 1993.  However, these 
results were more than offset by the results in the company's contact 
lens business discussed previously.

Revenues in the biomedical sector advanced 4% over the third quarter of 
last year.  This progress was attributable to the effect of currency on 
results from operations outside the U.S.


Optics Segment

In Bausch & Lomb's optics segment, third quarter sales declined 13% to 
$151 million compared to $174 million in the same period in 1993.  As 
discussed previously, worldwide sunglass revenues declined 21% from the 
same period in 1993.  Sales of thin film coating products and services 
grew by more than 60% off a low base as a result of higher shipments to 
Europe, while sales of sports optics advanced 11%, led by strong demand 
for riflescopes and telescopes.  During the first nine months of 1994, 
consolidated optics segment revenues amounted to $480 million compared 
to $531 million for the same period in 1993.


Operating Earnings

Total operating earnings for the most recent period declined to $21 
million versus $89 million in 1993.  Improved operating earnings 
performance was evident in the company's contact lens care, 
pharmaceutical, sports optics and thin film coating businesses.  The 
contact lens sales reserve, actions to reduce distributor inventories 
and efforts to realign sunglass distribution in Southeast Asia 
significantly constrained operating earnings in the quarter.  
Comparisons with the prior period were also burdened by additional 
expenditures for severance, underabsorbed operating costs in the contact 
lens and sunglass businesses, and reduced sales in product areas where 
management has elected to discontinue distributor promotions in 1994.


Net Earnings

Net earnings for the 1994 third quarter and nine-month periods reflected 
the company's operating earnings performance, and were also affected by 
lower premium income generated from foreign currency hedging programs 
and by higher financing costs, including the cost of equity financing 
reported with minority interest expense.


LIQUIDITY AND FINANCIAL RESOURCES

Stringent new controls on capital spending are in effect and the company 
is targeting a reduction in the working capital requirements of its 
businesses, with the expectation that the generation of free cash should 
improve very significantly, especially in 1995.


OUTLOOK

As reported in its October 13th press release, management expects to 
face another difficult sales comparison in the fourth quarter, 
especially in the contact lens business, where shipments were at a very 
high level a year ago.  However, with only a $10 million imbalance in 
sunglass inventories still outstanding, the company's overall operating 
performance should show improvement from trends experienced during the 
third quarter.  For the year in total, earnings in excess of $2.00 per 
share seem attainable, but the company's first priority is to strengthen 
its operations and complete the necessary actions to enable it to 
reestablish a pattern of consistent growth in the future.



SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934,  
Bausch & Lomb has duly caused this report to be signed on its behalf by 
the undersigned thereunto duly authorized.


BAUSCH & LOMB INCORPORATED


Date:	October 13, 1994

By:	(Peter Stephenson)
    	Peter Stephenson
    	Senior Vice President,
    	Finance





Bausch & Lomb

STATEMENT OF EARNINGS


                            Quarter Ended       Nine Months Ended
Dollar Amounts
   in Thousands-           Sept.24,  Sept.25,   Sept.24,   Sept.25,
Except Per Share Data        1994      1993       1994       1993
- ---------------------      -------   --------   --------   --------
                                             
Net Sales:

 Healthcare               $298,281  $325,249  $  891,626 $  854,806
 Optics                    151,166   173,562     479,873    531,039
                          --------  --------  ----------  ---------
                           449,447   498,811   1,371,499  1,385,845

Costs and Expenses:

 Cost of products sold     237,599   219,992     664,360    617,607
 Selling, administrative
   and general             175,809   175,613     521,024    508,224
 Research and development   14,802    14,495      45,468     43,178
                           -------   -------   ---------  ---------
                           428,210   410,100   1,230,852  1,169,009
                           -------   -------   ---------  ---------
Operating Earnings          21,237    88,711     140,647    216,836


 Investment income          (8,553)   (1,764)    (26,434)    (9,476)
 Interest expense           10,182     7,446      29,409     24,960
 (Gain)loss from
   foreign currency         (1,084)   (2,051)     (2,222)   (10,043)
                            -------   -------     -------   --------  
                               545     3,631         753      5,441
                            -------   -------     -------   --------

Earnings Before
   Income Taxes and
   Minority Interest        20,692    85,080     139,894    211,395
 Provision for income taxes  6,890    28,332      45,915     72,468
                            ------    ------     -------    -------

Earnings Before
   Minority Interest        13,802    56,748      93,979    138,927

 Minority interest
    in subsidiaries          6,113       995      17,574      3,295
                            ------    ------      ------    -------  

Net Earnings              $  7,689  $ 55,753  $   76,405 $  135,632
                            ------    ------     -------    -------   
                            ------    ------     -------    -------
Net Earnings
   Per Common Share       $   0.13      0.93  $     1.28 $     2.25
                            ------    ------     -------    ------- 
                            ------    ------     -------    -------  
                                                  59,787     60,151
                                                  ------    -------
                                                  ------    -------

Average Common Shares Outstanding (000s)