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Shamir Optical Industry Ltd. Reports Second Quarter 2009 Results
Date:8/13/2009

KIBBUTZ SHAMIR, Israel, Aug. 13 /PRNewswire-FirstCall/ -- Shamir Optical Industry Ltd. (Nasdaq: SHMR) ("Shamir"), a leading provider of innovative products and technology to the ophthalmic lens market, today announced unaudited financial results for the second quarter ended June 30, 2009.

For the quarter ended June 30, 2009, revenues were $35.2 million, compared with revenues of $37.1 million for the same period in 2008. The decrease in revenues was mainly due to the decrease in the value of the Euro versus the US dollar between the comparable quarters. Gross profit for the quarter was $19.0 million, or 53.8% of revenues, compared with gross profit of $20.1 million, or 54.3% of revenues for the same period last year.

For the quarter ended June 30, 2009, operating income increased by 25.0% to $4.1 million, or 11.6% of revenues, compared with operating income of $3.3 million, or 8.8% of revenues for the same period last year. Net income for the quarter increased by 39.1% to $3.9 million compared with net income of $2.8 million for the comparable period in 2008. Net income attributable to Shamir's shareholders was $0.22 per diluted share, compared with $0.16 per diluted share for the same period in 2008

For the quarter ended June 30, 2009, excluding the effect of non-cash stock-based compensation expenses, amortization of intangible assets and compensation to the Company's former chief executive officers, operating income increased by 22.5% to $4.8 million, or 13.6% of revenues, compared with operating income of $3.9 million, or 10.5% of revenues, for the same period last year.

Excluding the effect of non-cash stock-based compensation expenses, amortization of intangible assets and compensation to the Company's former chief executive officers, n
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SOURCE Shamir Optical Industry Ltd.
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