For the quarter ended March 31, 2009, company reported gross profit of $17.9 million, or 52.6% of revenues, compared with gross profit of $20.8 million, or 54.7% of revenues for the same period last year.
For the quarter ended March 31, 2009, operating income was $3.9 million, or 11.4% of revenues, compared to operating income of $4.3 million, or 11.2% of revenues for the same period last year.
Net income for the quarter was $2.2 million, against net income of $2.6 million for the same period in 2008.
For the quarter ended March 31, 2009, excluding the effect of non-cash stock-based compensation expenses and amortization of intangible assets, operating income was $4.3 million, or 12.6% of revenues, compared with operating income of $4.8 million, or 12.7% of revenues, for the same period last year.
As on March 31, 2009, the company had cash and cash equivalents, including short-term investments of $26.5 million.
Commenting on first quarter results, Eyal Hayardeny, chief executive officer of Shamir, said, “Shamir had a very good start in 2009. During the first quarter, we experienced favorable results, many of which reflect the changes we have instituted throughout our organization to effectuate improved sales and manufacturing capabilities.”
Shamir is a provider of innovative products and technology to the ophthalmic lens market.
