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Essilor reports 8.6% rise in second-quarter consolidated revenue

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CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of €823 million for the second quarter, up 8.6% compared with €758 million reported during the second quarter of 2008, the company announced in a press release.

However, like-for-like revenue during the second quarter declined 0.4%, primarily due to inadequate instrument sales, the release said.

In North America, second-quarter revenue totaled €345.7 million, representing a 14% increased compared with €303.3 million reported during last year's second quarter — growth the company attributed to continued business gains with optometrists and independent laboratories, as well as improved operations in Canada.

In Europe, second-quarter revenue totaled €335 million, down 3.9% from €348.8 million reported during the second quarter of 2008. Despite strong growth in Russia, Finland, Austria and Finland, Essilor partly ascribed the downturn to unfavorable economic conditions during the first half of 2009 in the United Kingdom, Spain and the Netherlands, according to the release.

The Asia-Pacific region reported €84.4 million in revenue for the quarter, up 15.9% from €72.8 million reported during the same period last year. However, growth slowed within the company's Latin America region, rising 0.7% to €32.5 million for the quarter, partly due to the contrast of a 17.6% gain in the region's revenue reported during the first half of 2008.

Since the beginning of the year, Essilor has completed 14 acquisitions, from which the company expects to record a total of E64 million in full-year revenue. Specifically, during the second quarter, Essilor acquired three new prescription laboratories in the United States, representing a combined revenue of $22 million: ABBA Optical, Barnett & Ramel Optical and McLeod Optical.