Italian eyewear group Luxottica Group SpA has announced consolidated U.S. GAAP results for the first quarter of 2006 and the proposed cash dividend payment for fiscal year 2005.
Financial highlights for the first quarter of 2006(1):
-- Consolidated sales: €1,262.0 million (+21.7 percent);
-- Retail sales: €890.9 million (+17.7 percent); retail comparable store sales(2): +8.3 percent;
-- Total wholesale sales: €455.6 million (+39.4 percent);
-- Consolidated operating income: €191.5 million (+40.3 percent);
-- Retail operating income: €112.1 million (+46.6 percent);
-- Wholesale operating income: €118.4 million (+52.3 percent);
-- Consolidated net income: €103.2 million (+35.3 percent);
-- Earnings per share: €0.23 (US$0.27 per ADS)
Other news highlights:
-- Board recommends the appointment of two new independent directors, bringing the total to six out of 14;
Andrea Guerra, CEO of Luxottica Group, said: "Our strong results for the first quarter represent a particularly encouraging beginning for 2006. Sales were up significantly in both wholesale and retail, by 39.4 percent and 17.7 percent, respectively, reflecting continued strength in our wholesale business and strong execution on our retail strategy -- both in North America and Asia-Pacific. I am especially pleased with the significant improvement in profitability for the quarter, reflected in a year- over-year 200 basis points rise in consolidated operating margin."
marketing@alchempro.com
