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Essilor posts 7.8% increase in first-quarter consolidated revenue

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CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of €905.8 million for the first quarter, a 7.8% increase compared with revenue reported during the first quarter of 2009, the company announced in a press release.

First-quarter like-for-like revenue increased 2.5%, driven by sales in emerging markets, as well as marked gains in established markets.

Essilor's North American arm reported revenue of €375.6 million, representing a 0.9% increase compared with sales reported during the same period last year. Essilor attributed the slight gain to unit sales growth, specifically in the United States.

First-quarter revenue in Europe rose 4.6% to €345.3 million, led by strong sales in France, Belgium and Eastern Europe. However, economic conditions remained difficult in parts of Scandinavia, the Netherlands and Spain.

Led by robust growth in emerging markets, the company's Asia-Pacific and Africa region posted €103.1 million in first-quarter revenue, up 20.4% compared with revenue reported during the same period in 2009. Despite the increase, sales in Japan remained slow.

Revenue in Latin America rose during the first quarter, increasing 43.6% to €39.9 million.

Since April 1, Essilor has successfully completed three transactions, including the acquisitions of Hawkins prescription laboratory in the United States, a majority stake in SMJ prescription laboratory in Taiwan and a 60% interest in lens manufacturer DAC Vision.

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