Essilor reports 10.3% increase in first-quarter consolidated revenue

CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of €840.4 million for the first quarter, a 10.3% increase over €762.2 million in the first quarter of 2008, the company announced in a press release.

Like-for-like revenue in the first quarter declined 1%, primarily due to a drop in the company's instruments business.

In North America, consolidated revenue totaled €375.9 million, representing an 18.1% rise from €318.3 million reported during the same period last year. In the United States, sales from the prescription laboratory network to independent eye care professionals remained stable, although first-quarter business in a number of affiliated optical chains diminished.

First-quarter consolidated revenue in Europe totaled €330.8 million, down 4.5% from €346.4 million during last year's first quarter. Essilor attributed the downturn to a decline in instrument sales and the difficult economic environment in the United Kingdom, Spain, Italy and select Eastern European countries.

Emerging markets in the company's Asia-Pacific region had strong growth, posting €81.5 million in consolidated revenue, up 17.8% from €69.2 million for last year's first quarter.

Essilor maintained its expansion in Latin America, led by operations in Brazil and Mexico, with consolidated revenue of €27.8 million, down slightly from €28.3 million in the first quarter of 2008.