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Sales at fashion sunglasses marketer FGX International perks up

13
Nov '08
FGX International, a leading designer and marketer of non-prescription reading glasses, sunglasses and costume jewelry, today announced financial results for its third quarter and nine months ended October 4, 2008.

Highlights for the quarter include:
Net sales increased 10% to $59.1 million in the current period from $53.9 million in the third quarter of 2007. Net income increased to $3.9 million from break even in the third quarter of 2007.

Earnings per diluted share increased to $0.18 in the third quarter of 2008 from break even in the third quarter of 2007. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 9% to $12.2 million from $11.2 million in the third quarter of 2007.

Highlights for the nine months include:
Net sales increased 7% to $189.9 million in the first nine months of 2008 from $177.7 million in the first nine months of 2007. Net income increased 200% to $10.2 million in the first nine months of 2008 from $3.4 million in the first nine months of 2007.

Earnings per diluted share increased to $0.48 in the first nine months of 2008 from $0.23 in the first nine months of 2007, a 109% increase. EBITDA increased 4% to $35.9 million in the first nine months of 2008 from $34.4 million in the first nine months of 2007.


FGX International


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