(Source: Datamonitor)
Luxottica Group, which is engaged in the design, manufacture and distribution of luxury and sports eyewear, has reported a net income attributable to its common shareholders of E83.1 million, or E0.18 per diluted share, for the third quarter ended September 30, 2009, down 20.6%, compared to E104.61 million, or E0.23 per diluted share, for the same quarter of 2008.
For the third quarter of 2009, sales were E1.22 billion, down 0.9%, compared to E1.21 billion for the same quarter of 2008.
For the first nine months of 2009, sales were E3.94 billion, down 0.7%, compared to E3.96 billion for the same period of 2008. Net income attributable to its common shareholders was E279.2 million, or $0.61 per share, down 18.1%, compared to E340.9 million, or E0.74 per diluted share, for the same period of 2008.
Andrea Guerra, CEO of Luxottica Group, said: "Now that we are approaching the end of a year as demanding as 2009, we believe that the worst is behind us. Flexibility, speed, the ongoing search for new solutions and a continued focus on the balance sheet have enabled Luxottica to post positive results even in a period as difficult as what we experienced. For the second consecutive quarter Luxottica saw growth in sales and, most importantly, for the first nine months of the year results are much in line with last year. Additionally, we achieved strong cash flow generation of E207 million for the quarter."
A service of YellowBrix, Inc.
