MILAN—Marcolin S.p.A. (MCL-IT) has approved their financial results for the third quarter and the first nine months of 2010, ended Sept. 30, 2010.

For the third quarter of 2010, income from sales was €39.7 million compared with €30.9 million for the same period in 2009 with an increase of 29.1 percent. Net profit was down only €367, 000 compared to a loss of €2.7 million in the third quarter of 2009, with a percentage of revenue down only 0.9 percent.

Net income from group sales for the first nine months was €155.3 million versus €130.9 last year, representing an increase of €24.4 million, or 18.6 percent. Sales grew in all the main world markets, also due to the successful launch of the new trademarks recently acquired such as Tod’s, Hogan and John Galliano, together with Dsquared2, according to the company. Net profit represents €13.9 million for the period, compared to €4.4 million for the first nine months of 2009.

Geographically, the most significant increases over the last nine months were in the Far East, where the group is promoting an important development action, and in certain Middle Eastern countries. Italy showed a positive sales trend up 18.5 percent, while the U.S. market also increased with revenue up by 12.7 percent.

"I am obviously very satisfied,” said Massimo Saracchi, CEO and general manager of Marcolin. “The Marcolin Group is harvesting the results of the great reorganization work carried out in recent years. 2010 will be a record year for us, the best we have ever had, in terms of both revenue and, above all, profit. The first projections for 2011 look very promising."

After the closure of the third quarter, the company announced the signing of a license agreement with Diesel for the production and worldwide distribution of Diesel sunglasses and prescription spectacle frames. According to the statement from the company, this license will represent a key factor of its own activities in the “Diffusion” segment. With regard to the business outlook for the remainder of the year, the company said, “the group will continue to achieve positive results in terms of both revenue and profit.”