Shamir Optical 3rd-quarter net up 75% on 29% higher revenue
Shamir Optical Industry Ltd.,the Kibbutz Shamir, Israel, producer of progressive-lens products and technology, reported third-quarter earnings rose 75% on 29% higher revenue.
Net income reached $2.3 million, or 14 cents a share, from $1.3 million, or 8 cents, in the year-earlier period. Adjusted share earnings were 15 cents against a dime.
Revenue rose to $30.9 million from $24.1 million. T
he company's operating-profit margin nearly doubled, to 10.2% of revenue from 5.8%.
Revenue growth was particularly strong in Europe, said Giora Ben-Ze'ev, president and chief executive, in a statement on Tuesday.
The company raised the bottom end of its revenue outlook for the year by 4 percentage points and now expects growth of 16% to 20%
Shamir Optical Industry Ltd.,the Kibbutz Shamir, Israel, producer of progressive-lens products and technology, reported third-quarter earnings rose 75% on 29% higher revenue.
Net income reached $2.3 million, or 14 cents a share, from $1.3 million, or 8 cents, in the year-earlier period. Adjusted share earnings were 15 cents against a dime.
Revenue rose to $30.9 million from $24.1 million. T
he company's operating-profit margin nearly doubled, to 10.2% of revenue from 5.8%.
Revenue growth was particularly strong in Europe, said Giora Ben-Ze'ev, president and chief executive, in a statement on Tuesday.
The company raised the bottom end of its revenue outlook for the year by 4 percentage points and now expects growth of 16% to 20%
