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Shamir Optical Industry Ltd. Reports Third Quarter 2009 Results
Date:11/18/2009

e for the same period last year.

The reconciliation of GAAP operating income and net income to non-GAAP operating income and non-GAAP net income is set forth below.

As of September 30, 2008, the Company had cash and cash equivalents, including short-term investments of $28.1 million.

Commenting on the results, Amos Netzer, Chief Executive Officer of Shamir, said, "Shamir preformed well in the third quarter, particularly in light of the difficult economic environment throughout the world. We executed solidly and continued to make important inroads in many of our operating markets, with the goal of advancing the recognition of Shamir-branded products. Concurrent with these efforts, we continue to stress the importance of strict cost controls, which has always been a centerpiece of our operating philosophy, but has become increasingly important during these difficult economic times."

Mr. Netzer continued, "To support our long range goals of expanding our worldwide sales and manufacturing capabilities, we recently purchased a 66.6% stake in a local lab in Australia that currently has annual revenue of approximately USD $7 million. We are enthusiastic about this opportunity and are confident in our ability to penetrate and expand our holdings in this new market and to promote the Shamir brand in this region. This new acquisition follows the recently reported gain of control of our lab in Thailand which as of this quarter was consolidated into our reported financial results."

Mr. Netzer concluded, "In terms of our overall strategy, we continue to maintain a strong balance between investing in long-term growth and monitoring operational expenses, which has helped us achieve positive performance thus far this year."

Conference Call:

Shamir has scheduled a conference call for 10:00 a.m. ET today to discuss third quarter results. To participate in the call, please dial (888) 562-3356 (U.S.
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SOURCE Shamir Optical Industries Ltd.
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