Shamir Optical Industry has announced a 26.9 per cent rise in revenues to $29.3m for the first quarter of 2007 ending March 31, compared to $23.1m for the same period in 2006.
The company saw gross profit for the quarter rise 16 per cent to $15.4m, or 52.5 per cent of revenues, compared to $13.3m or 57.5 per cent of revenues for the same period in 2006.
Operating income rose 39.5 per cent to $3.3m and net income for the quarter increased 11.4 per cent to $2.3m.
Commenting on the first-quarter results, Giora Ben-Ze'ev, chief executive officer of Shamir said it had generated strong revenue growth in all of its operating markets, with particular strength in the US. 'In our European markets we continued to show revenue growth and we made additional operational inroads into the UK, France and Turkey.'
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