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Essilor reports 5.7% increase in revenue for fiscal 2008

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CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of €3.07 billion for 2008, representing a 5.7% increase from the previous year, the company announced in a press release.

Like-for-like consolidated revenue rose by 12.6% in the fourth quarter to €796.7 million, compared with the same period in 2007. For the year, like-for-like revenue growth totaled 4.6%, a reflection of 4.9% growth in the corrective lens business, new products and a 2% decline in instrument sales, the release said.

Consolidated revenue in North America totaled €1.27 billion for 2008, representing a 4.4% increase over €1.21 billion in 2007.

In the United States, Essilor's newly acquired prescription laboratories experienced growing demand from independent eye care professionals, but economic conditions affected business with some of the large optical chains, the release said.

Essilor reported €282.9 million in consolidated revenue in the Asia-Pacific region, representing a 6% increase from 2007; €127.2 million in consolidated revenue in Latin America, representing a 16.1% increase; and €1.36 billion in Europe, representing a 3.4% increase.