Commenting on the results, Giora Ben-Ze'ev, President and Chief Executive Officer of Shamir, said, "Our results for the third quarter reflect the growing demand for Shamir's products and services. Our revenue growth was well spread over most of our operations, especially in our European subsidiaries. We continued to see the expansion of our customer base particularly in the United Kingdom and France, where both operations executed according to plan."
Mr. Ben-Ze'ev continued, "In Portugal, we have significantly improved efficiency. We have extended our operation and occupied our new facility, while maintaining our high level of manufacturing quality. "
Mr. Ben-Ze'ev concluded, "In short, we had a good quarter and showed steady progress in our businesses worldwide. Our results demonstrate the positive momentum of our technology and lenses and reflect our strategy of growing worldwide on one hand and controlling our operational expenses on the other hand. Based on our results we are updating our top-line growth forecast for the fiscal year ending on December 31, 2007, from the previously provided range of 12%-20% revenue growth, to 16%-20%."
Shamir has scheduled a conference call for 9:00 a.m. today to discuss third quarter results. To participate in the call, please dial 888-694-4676 (U.S. and Canada) or 973-582-2737 (International). The conference ID for this event is 9462512. For those unable to participate there will be replay available from 12:00 p.m. EST on November 27, 2007 through 11:59 p.m. EST, December 4, 2007. Please call: 1-877-519-4471 (U.S. and Canada) 1-973-341- 3080 (International). The ID code for the replay is 9462512.
The call will be available as a live, listen-only webcast at
http://www.kcsa.com. Please go to the KCSA website at least 15 minutes prior to
the scheduled start time to register, download and install any necessary
|SOURCE Shamir Optical Industry Ltd.|
Copyright©2007 PR Newswire.
All rights reserved