The first quarter ended March 31 was full of good news for Shamir Optical Industry. The Israel-based company's net sales jumped by 29.5 percent to $38.0 million, and the gross profit margin was up by 2.2 percentage points to 54.7 percent of sales.
The net income for the quarter was up by 25.2 percent to $2.9 million compared with the same period in 2007, and operating income increased as well, up by 27.2 percent to $4.3 million. That meant an operating margin of 11.2 percent compared with 11.4 percent last year.
However, excluding non-cash stock-based compensation costs, Shamir's operating income was up by 21.6 percent to $4.5 million, for a margin of 11.9 percent compared with 12.5 percent in 2007. Net income without these costs was $3.2 million, up from $2.6 million in the year-ago period.