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Unilens Vision Reports Record Second Quarter Revenue, and Royalty Income
Date:2/26/2009

r C-Vue brand of lenses sold exclusively to independent practitioners, combined with a 3% growth in royalty revenue derived from Bausch & Lomb's sales of multifocal lenses that use our key technologies, was responsible for our record performance."

"I am also pleased to report that the Unilens Board of Directors declared its regular quarterly dividend of US $0.09 per common share, payable this Friday, February 27, 2009. "This decision was based on the Company's strong balance sheet, and projected operating cash flows and is consistent with the Board's commitment that shareholders should share directly in the earnings achieved by management while continuing to execute our growth strategy," concluded Mr. Pecora.

For the six months ended December 31, 2008, net sales excluding royalty income, increased 3.3% to $3,291,768, as compared to $3,185,722 for the prior-year six months. Net sales of the Company's C-Vue brand disposable contact lenses increased approximately 11.3% during the first half of fiscal year 2009, while sales of replacement products lines declined, as expected.

Net Income for the six months increased 9.6% to $825,312, or $0.18 per diluted share, compared with $753,211, or $0.17 per diluted share in the prior-year 6 months.

Royalty income for the six months ended December 31, 2008 increased 9.6% to a record $1,379,966, compared with $1,259,648 in the prior-year 6 months, demonstrating continued demand for sales of licensed products by our licensee Bausch & Lomb.

Income before taxes for the six months ended December 31, 2008 increased 18.7% to $1,374,976, compared with $1,158,758 in the prior-year 6 months. After recording net income tax expense of $549,664, Unilens reported net income of $825,312, or $0.18 per diluted share, for the six months ended December 31, 2008. This compared with net income of $753,211, or $0.17 per diluted share, in the pri
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SOURCE Unilens Vision Inc.
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