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Essilor posts 5.5% rise in revenue, makes four acquisitions during third quarter
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CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of Euro 757.6 million for the third quarter, up 5.5% from Euro 723.5 million during the third quarter of 2007, the company announced in a press release.
Third-quarter consolidated revenues in Europe totaled Euro 325.5 million, up 2.7% from Euro 311.5 million during last year's third quarter.
Led by demand from independent eye care professionals, consolidated revenue in North America totaled Euro 319.6 million, representing a 5.1% increase compared with Euro 310 million reported during the same period last year. However, growth in this region suffered from the high basis of comparison for the third quarter of 2007, when there was 10.7% like-for-like sales growth, according to the release.
Essilor subsidiaries in the Asia-Pacific region accounted for Euro 74.6 million in consolidated revenue for the third quarter, representing a 12.1% gain compared with revenues reported during last year's third quarter.
The company also reported Euro 37.9 million in revenue from its operations in Latin America, a 24.2% increase over revenues reported during the same period last year.
In addition, Essilor reported the completion of four acquisitions during the third quarter. In Europe, the company acquired Nika GmbH, a German distributor of Nikon lenses, and Omega Optix, owner of two prescription laboratories in the Czech Republic and Slovakia.
In the United States, Essilor acquired Optimatrix, a prescription laboratory in Alabama. The company also acquired the assets of Sankar & Co's ophthalmic division, including five formerly franchised laboratories in India's Coimbatore region.