Shamir reports revenue drop

Lens manufacturer Shamir Optical posted revenue of $35.2m for the second quarter ending June 30 2009, a marginal drop when compared with revenue of $37.1m for the same period in 2008.

The drop was attributed to the decrease in the value of the euro against the US dollar between the comparable quarters. However, the company's unaudited results revealed that operating income for the quarter increased by 25 per cent to $4.1m, when compared with operating income of $3.3m for 2008.

Gross profit for the quarter was $19m, or 53.8 per cent of revenue, compared with gross profit of $20.1m, or 54.3 per cent of revenue for the same period in 2008, according to the Vision Monday website.