Revenues jumped by 27.2 percent in the fourth quarter for Shamir Optical Industry, hitting $37.1 million. The Israeli company's operating income went up by 55.6 percent to $4.5 million, for an operating margin of 12.3 percent compared with 10.0 percent in 2008. Net income more than doubled, rising by 132.8 percent to $3.5 million. The gross profit margin nudged upward by 0.1 percentage point to 55.0 percent.
Broken down by region, sales in Europe were $17.6 million, North American revenues ? from its Shamir Insight division ? were $7.2 million, and turnover in the rest of the world was $11.3 million.
For the full year, sales rose by 1.5 percent to $142.4 million, but this translated to a 29.1 percent increase in operating income to $17.3 million and a 46.2 percent rise climb in net income to $13.3 million. The operating margin grew by 2.7 percentage points to 12.2 percent, while the gross margin dropped by 0.1 percentage point to 54.0 percent. Shamir Insight in particular was singled out for its strong performance despite the recession in North America.