Unilens Vision Inc. (OTC Bulletin Board: UVICF; TSX Venture Exchange: UVI), which develops, licenses, manufactures, distributes and markets specialty contact lenses, today reported its operating results for the first quarter ended September 30, 2009. The Earnings increase was 6% TO $0.11 Per Share.
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Royalty income for the FY2010 first quarter increased 7.6% to a record first quarter of $767,676 compared with $713,397 in the prior-year quarter. Sales of licensed products by our licensee Bausch & Lomb continue to increase, resulting in continued royalty income growth. "We are pleased with our first quarter results, considering the current economic environment," stated Michael J. Pecora, Chief Executive Officer of Unilens Vision Inc. "Continued growth for our C-Vue brand of lenses sold exclusively to independent practitioners, combined with a 8% growth in royalty revenue derived from Bausch & Lomb's sales of multifocal lenses that use our key technologies, was responsible for our record performance." "I am also pleased to report that the Unilens' Board of Directors declared its regular quarterly dividend of US $0.09 per common share, payable next Friday November 27, 2009. "This decision was based on the Company's current balance sheet, and projected operating cash flows and is consistent with the Board's commitment that shareholders should share directly in the earnings achieved by management while continuing to execute our growth strategy," concluded Mr. Pecora. Established in 1989, Unilens Vision Inc., through its wholly owned subsidiary Unilens Corp., USA, located in Largo, Florida, develops, licenses, manufactures, distributes and markets contact lenses primarily under the C-Vue brand directly to Independent Eye Care Professionals. Additional information on the Company may be accessed on the Internet. The Unilen's common stock is listed on the OTC Bulletin Board under the symbol "UVICF" as well as the Canadian TSX Venture Exchange under the symbol "UVI".
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