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Luxottica: Record results for Q2 2010

Oakley headquarters in
Oakley headquarters in Foothill Ranch, Calif.
By
July 26, 2010 9:33 AM

Press Release Source: Luxottica Group S.p.A. On Monday July 26, 2010, 11:42 am

MILAN, July 26 /PRNewswire-FirstCall/ -- The Board of Directors of Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a global leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, met today and approved the consolidated results for the second quarter and first half of the year ended June 30, 2010 in accordance with IAS/IFRS.

Second quarter of 2010(1) – IAS/IFRS

(In millions of Euro) Q2 2010 Q2 2009 Change

Net sales 1,595.1 1,401.6 +13.8% (+6.5% at constant exchange rates(2))

Operating income 258.3 203.3 +27.1%

Net income 150.1 115.3 +30.1%

Earnings per share 0.33 0.25 +29.6%

In US$ 0.42 0.34 +20.9%

First half of 2010(1) – IAS/IFRS

(In millions of Euro) H1 2010 H1 2009 Change

 Net sales 2,986.8 2,714.0 +10.1% (+6.7% at constant exchange rates(2))

 Operating income 429.6 357.5 +20.2%

 Net income 245.1 194.1 +26.3%

Earnings per share 0.53 0.42 +25.9%

In US$ 0.71 0.57 +25.4%

Operating performance for the second quarter of 2010

For Luxottica, the second quarter reflected the strongest results in the Group's history. For the first time ever, quarterly net sales approached euro 1.6 billion, with net income reaching euro 150 million. Both Divisions contributed to the achievement of this excellent result, successfully reaping the benefits of the extraordinary work carried out during recent quarters and confirming the strength of the Group's brands while strengthening our market position.

Please see page 2 for comments from CEO Andrea Guerra,
plus consolidated and wholesale results

 

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