Essilor posts 6.3% rise in third-quarter consolidated revenue

CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of €805.1 million for the third quarter, representing a 6.3% increase compared with €757.6 million reported during the third quarter of 2008, according to a press release from the company.

Like-for-like revenue grew by 0.1%, showing a gradual upturn in business after two consecutive quarterly declines.

The company's North American operations reported €333.5 million in third-quarter revenue, up 5.6% from €315.8 million reported during the same period last year. Despite poor sales in Canada, North American revenues were bolstered by the launch of Essilor subsidiary KBco's Xperio polarized lens.

In Europe, third-quarter revenue totaled €324.3 million, up 0.1% from €323.8 million reported during last year's third quarter. Despite poor output by the company's operations in Nordic countries, Eastern Europe and the Netherlands, Essilor reported strong growth in France and incremental growth in the United Kingdom, Italy and Spain, according to the release.

Essilor's Asia-Pacific region reported €89.6 million, representing a 12.9% gain over €79.3 million reported during the third quarter of 2008. However, revenue stemming from the company's Latin America region dropped 6.1% to €35.6 million for the quarter — a deficit the company attributed to the negative effect of "prior-period comparatives."

Essilor completed six acquisitions in Europe and the United States during the third quarter and has acquired 17 companies since January 1, accounting for approximately €83 million in revenue.