NEW YORK—Buoyed by strong revenues generated by its buying group segment, Emerging Vision (OTC BB: ISEE.OB) posted net income for both its third quarter and the first nine months of this year, after showing net losses in the same periods in 2009, according to its 10-Q report filed with the SEC.

In the third quarter of this year, Emerging Vision’s total revenues grew 4.2 percent, to $17.2 million. The bulk of those revenues came from the firm’s optical purchasing group segment—comprised of the Combine Buying Group in the U.S. and The Optical Group in Canada—which saw its revenues increase 4.3 percent, to $14.25 million in Q3.

Emerging Vision’s 123 franchised Sterling Optical stores generated $1.6 million in franchise royalties during the period; its six company-owned locations did $644,000 in sales, with comparable store sales for those units rising 23.6 percent in the quarter. The company also had $915,000 in membership fees through its Vision Care of California subsidiary.

Net income in Q3 was $367,000, compared to a net loss of $637,000 in last year’s third quarter.

In the first nine months of this year, the company’s total revenues reached $51.7 million, up 8.5 percent. The optical purchasing group generated $42.3 million of that total, up 8.3 percent.

Emerging Vision’s net income in 2010’s first nine months was $1.5 million, vs. a net loss of $470,000 in the same period last year. ■ ■