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Luxottica reports 2Q improvement on better sales

Mon, 07/26/2010 - 11:45am
The Associated Press

Luxury eyewear company Luxottica Group SpA on Monday reported that its net income rose 30 percent in the second quarter as sales improved.

The Italian company recorded income of 150.1 million euros ($195 million), or 33 euro cents (42 cents) per share, for the quarter. That's up from 115.3 million euros, or 34 euro cents per share, in the same quarter last year.

Revenue grew to 1.6 billion euros ($2.1 billion) from 1.4 billion euros.

Luxottica said it was its strongest quarter in the company's history as sales hit a record high, with particularly strong performance by Ray-Ban and Oakley brands and improvement in its North American sales.

U.S.-traded shares of Luxottica rose 56 cents, or 2.2 percent, to $26.63 in afternoon trading.

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