Eyal Hayardeny

KIBBUTZ SHAMIR, Israel—Shamir Optical Industry (Nasdaq: SHMR), based here, has appointed Eyal Hayardeny as its president and chief executive officer, effective April 2, 2008. Hayardeny, who currently serves as Shamir's executive vice president and vice president of business development, replaces Giora Ben-Ze'ev, who shall continue to serve the company as vice chairman of the board of directors and as director of strategic projects.

Hayardeny joined Shamir as an executive vice president and vice president of business development in 2005. From 1994 to 1998, he worked at Somekh Chaikin's (KPMG) economic department. From 1991 to 1994, he served as a budget officer in the IDF's chief of staff financial consultant unit. He holds a BA degree in accounting and economics and an MBA degree from the Bar-Ilan University.

“We are delighted that Eyal has agreed to serve as Shamir's new president and chief executive officer. His experience will enhance our team and provide strong continuity during this transition. Over the recent years, Eyal has proven himself an invaluable member of our group's efforts. His intimate knowledge of Shamir will help support our continuing efforts to expand our footprint worldwide,” said Uzi Tzur, the chairman of Shamir's board of directors.

Tzur added, “We would like to thank Mr. Giora Ben-Ze'ev for his significant contributions to Shamir during more than 30 years with Shamir. We greatly appreciate his efforts, especially his guidance through Shamir's IPO and listing on NASDAQ. We are pleased that Mr. Ben-Ze'ev has agreed to continue his contribution to our operation as vice chairman of the board of directors and as director of strategic projects of Shamir.”

Shamir's audit committee and board of directors have approved the appointment of Ben-Ze'ev as vice chairman of the board of directors and as director of strategic projects of Shamir, subject to the approval of the general meeting of Shamir's shareholders.

Shamir also released results for fourth quarter and the year ended Dec. 31, 2007. For the fourth quarter of 2007, revenues increased 20.3 percent to $30.6 million, compared to revenues of $25.4 million for the fourth quarter of 2006. Gross profit for the quarter was $17.4 million, or 56.7 percent of revenues, compared to gross profit of $13.3 million, or 52.4 percent of revenues for the same period last year.

For 2007, revenues increased 23.8 percent to $120.4 million, compared to revenues of $97.3 million for the same period of 2006. Gross profit for the year increased 21.3 percent to $64.6 million, or 53.6 percent of revenues, compared to a gross profit of $53.2 million, or 54.7 percent of revenues for the same period last year.

For Shamir’s complete fourth quarter and 2007 results, go to the Financial News section on www.visionmonday.com.