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Optical product sales up at eyewear company Refac

18 Dec '06

3 min read

Nine Months Ended October 31, 2006:
The Company reported net income for the nine months ended October 31, 2006, of $1.1 million, or $0.06 per diluted share, compared with $3.2 million, or $0.19 per diluted share, for the prior year period.

Income from continuing operations was $652,000, or $0.04 per diluted share, for the nine months ended October 31, 2006, compared with income from continuing operations of $1.7 million, or $0.10 per diluted share, for the prior year period.

Total revenues for the nine months ended October 31, 2006, increased to $136.8 million from $132.5 million for the prior year. Increased optical product sales and services revenue of $7.3 million were offset by a $3.0 million decrease in intellectual property licensing-related activities and other revenue.

For the nine months ended October 31, 2006, adjusted operating income from continuing operations was $2.4 million for the nine months ended October 31, 2006, compared with $1.3 million for the prior year period. The $1.1 million improvement is primarily the result of increased optical related revenues.

Refac Optical Group

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