LINCOLN, R.I.—A.T. Cross Company (Nasdaq:ATX) reported its consolidated net sales for the first quarter of 2009, ending April 4. The company’s optical segment, which includes sunwear brands Costa Del Mar and Native Eyewear – the latter acquired in the first quarter of 2008 – posted sales of $12.1 million for the period, a 24.1 percent increase.

Overall, the company’s sales declined 14.9 percent to $30.9 million compared to $36.3 million in the first quarter of 2008. The Cross Accessory Division (CAD) recorded revenue of $18.8 million, a decline of 29.3 percent compared to last year.

Net loss for the first quarter was $0.9 million, compared to net income of $0.6 million in the period last year.

David G. Whalen, president and CEO of A.T. Cross said, "The business climate over the last two quarters has been extremely difficult and, like many other companies, A.T. Cross was not immune to the negative effects of the downturn. In response to what we believe are temporary trends, we took steps to reduce spending and manage our cash and inventory. More importantly, we remained committed to our core strategies of growing the Cross Optical segment, reshaping our approach to the writing instrument and accessory market and optimizing our writing instrument cost structure. These strategies were building momentum before the economic downturn and, given continued support, will result in a stronger company once the economy improves."

Given the economic climate, the company said it would not provide specific 2009 guidance at this time, adding the time for that will most likely be at the end of July when second quarter results are announced. At that point, the peak sunglass season will have been completed and a clearer view of how the holiday season will shape up for the Cross brand will be available, a statement noted.

In the first quarter of 2009, the company repurchased 179,000 shares of its Class A common stock at an average price of $2.35 per share. In the last six months, the company repurchased 467,000 shares at an average price of $3.01 per share.

A webcast of the company’s management April 23 onference call will be archived on www.cross.com for 30 days on this site, while a telephone replay of the call is available through May 1, 2009 at (888) 203-1112 or (719) 457-0820 for international callers, and entering the pass code of 9137498.