A year on from its purchase by US giant 1-800 Contacts, new financial figures have revealed that Plymouth's ClearLab UK has helped its American owner realise much improved first-quarter returns.
Previously known as VisionTec, the Devon-based company was bought by the Utah mail-order contact lens conglomerate in March last year. Its name was changed and it added its manufacturing capability to 1-800 Contacts' ClearLab International which is also based in Singapore.
Shortly after it was purchased, the Plymouth supplier attended the Mido show to launch its clear brand of contact lenses, and appeared at the Milan show offering optical retailers own-brand opportunities.
It will return to Mido again this weekend to promote Clear 1-day, 'the first biocompatible daily disposable'.
'Our products are supported by a growing number of strategic partnerships,' said ClearLab international president Graham Mullis, 'including retailers, distributors and the recent Menicon collaboration for Japan. The wearing benefits of our technology will be made available to millions of patients across the globe'.
This week its American owner said it expected the ClearLab name to achieve revenue of between $4.5m and $5m, with an operating loss of around $1.5m for the second quarter of the 2005 fiscal year.
Net sales and operating loss for the international manufacturing business for the first quarter of 2005 were $4.3m and $2m respectively, compared to net sales of $1.4m, and an operating loss of $1.1m last time.
ClearLab will join other UK companies - such as Brulimar and Booth & Bruce - at the Milan event this weekend. Mido will host a special UK pavilion at the exhibition.