SMITHFIELD, R.I.--FGX International (NASDAQ:FGXI) has announced its financial results for the third quarter and first nine months ended Sept. 29, the first results released since FGX went public Oct. 24.

In the third quarter, net sales increased 26 percent to $53.9 million. The company posted a net loss of $18,000 in Q3, compared to a net loss of $4.6 million in the same quarter a year ago.

Net sales in the first nine months of 2007 increased 28 percent to $177.7 million; net income was $3.4 million in 2007's first nine months, vs. a net loss of $8.9 million in the first nine months of 2006.

Said Alec Taylor, CEO of FGX, “These results are consistent with our expectations in what is traditionally our lowest sales quarter of the year. We have seen continued strong growth trends in the reading glasses and sunglasses markets, proving that our flagship brands, Foster Grant and Magnivision, are well recognized by consumers."

FGX reported a strong increase in sales of non-prescription reading glasses sales for both Q3 and the first nine months, which was primarily due to same store sales increases in most major accounts, the addition of a major customer at the end of 2006, and favorable demographic trends, which drove higher purchases, according to a company statement.

An increase in sales in the sunglasses and prescription frame segment for the quarter and nine month period was due to strong sales performance in most major retail accounts, increased business at a major customer beginning at the end of 2006, and fashion trends which increasingly dictate sunglasses as a year round accessory versus a seasonal item, FGX said.

The company forecast net sales in the fourth quarter ending Dec. 29 in the range of $59 million to $61 million, with sales for the full year 2007 expected to range from $237 million to $239 million. For the full year 2008, excluding any unforeseen charges or events, the company currently anticipates net sales to increase 7 to 9 percent over full year results for 2007.

The company forecast net sales in the fourth quarter ending Dec. 29 in the range of $59 million to $61 million, with sales for the full year 2007 expected to range from $237 million to $239 million. For the full year 2008, excluding any unforeseen charges or events, the company currently anticipates net sales to increase 7 to 9 percent over full year results for 2007.