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Shamir Optical Industry Ltd. Reports Third Quarter 2008 Results
Date:11/26/2008

n the call, please dial 888-562-3356 (U.S. and Canada) or 973-582-2700 (International). The conference ID for this event is 73332398. For those unable to participate there will be replay available from 12:00 p.m. ET on November 26, 2008 through 11:59 p.m. ET, December 3, 2008. Please call: 800-642-1687 (U.S. and Canada) 706-645-9291 (International). The ID code for the replay is 73332398.

The call will be available as a live, listen-only webcast at 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 audio software. A 30-day archive of the webcast will be available approximately 2 hours after the conclusion of the live call.

About non - GAAP financial measures

This press release includes non-GAAP financial measures - non-GAAP operating income and non-GAAP net income - that exclude certain charges. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management of Shamir believes that non-GAAP operating income and non-GAAP net income provides meaningful supplemental information because these numbers, which exclude the effect of non-cash stock-based compensation expenses amortization of intangible assets and one-time compensation to the former CEO, reflect our core operational results and are used by management internally to review Shamir's financial results. Shamir's management believes that amortization of intangible assets does not reflect our core operational and due to recent acquisitions these non-cash expenses becomes more material and should be excluded for non-GAAP measurement.

About Shamir

Shamir is a leading provider of innovative products and technology to the
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SOURCE Shamir Optical Industry Ltd.
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