Sola International: fiscal 2004 second quarter results

Net sales for Sola International in the fiscal year 2004 second quarter were $158.7 million compared with $138.5 million in the year ago period, an increase of 14.6%.

Net sales in the second quarter, on a constant currency basis, increased 7.7%, with North America increasing 10.2%, Europe increasing 6.1% (thanks to excellent growth in France, Italy, Portugal and Spain) and Rest of World increasing 5.6%.

Operating income in the second quarter was $20.6 million, or 13.0% of sales, compared with $15.0 million, or 10.8% of sales, in the second fiscal quarter last year, an increase of 37.3%. Operating income, before depreciation and amortization was $26.9 million, an increase of 38.2% over the $19.4 million reported in the year ago quarter.

Jeremy C. Bishop, president and chief executive officer of Sola, commented, "I am pleased with our second quarter results which met our expectations. Our continuing ability to expand revenues and, in particular, the growth of our North American business in the quarter, is at the core of our much improved performance'.