In the company’s news Friday,
Unilens Vision, Inc. reported record first quarter FY2009 sales of $1,761,526, along with record first quarter net income of $466,367, representing increases of 5.3% and 23.6% respectively from the same quarter last year, the result of continued growth of the company’s C-Vue® brand of specialty contact lenses. Sales of licensed products by company licensee Bausch & Lomb continued to increase, resulting in double-digit royalty income growth. Quarterly royalty income increased 16.4% over last year to a record $713,397.
Unilens CEO, Michael J. Pecora, commented on the strong performance, as well as on the company’s upcoming stock dividend. “We are pleased to report record first quarter sales, royalties and income for our FY2009 first quarter. Strong double-digit growth for our C-Vue brand of lenses sold exclusively to independent practitioners, combined with a 16% growth in royalty revenue derived from Bausch & Lomb’s sales of multifocal lenses that use our key technologies, was responsible for this outstanding performance.”
Continuing he said, “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 28, 2008. This decision was based on the Company’s strong 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.”
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