LINCOLN, R.I.—A.T. Cross Company (Nasdaq:ATX), whose optical group is composed of Costa Del Mar and Native Eyewear sunglasses, reported financial results for the third quarter ended Oct. 2, 2010, noting that the company’s consolidated sales for the period increased 11.8 percent to $38.2 million compared to $34.1 million in the third quarter of 2009. The company’s optical segment reported a third quarter sales increase of 16.9 percent, to $15.1 million.

"We are very pleased with our third quarter and year-to-date performance. In both periods, our business grew by nearly 12 percent and our bottom line improved significantly,” said David G. Whalen, president and CEO of A.T. Cross. “The Cross Optical Group continued its exceptional 2010 performance delivering year-to-date revenue growth of 18 percent and operating income growth of nearly 30 percent. We are excited by the market share gains the sunglass business is achieving and believe that its opportunities and growth prospects are numerous."

Operating income in for Q3 was $2.2 million as compared to $0.2 million in the third quarter of 2009. According to the company, operating income growth was benefited by a 4 percent increase in operating expenses versus 11.8 percent increase in sales. Net income for the quarter was $1.6 million compared to $0.9 million for the same period last year.

For the first nine months of 2010, consolidated sales increased by 11.7 percent to $114.3 million compared to $102.3 million for the same period of 2009, while the optical group’s revenue grew 18.3 percent to $49.1 million from 2009's $41.5 million. Both the Costa and Native brands reported revenue growth for the nine-month period. Year-to-date operating income was $6.7 million or $7.1 million higher than the nine month 2009 operating loss of $0.4 million.

Additionally, the company reported the repurchase of approximately 1.4 million shares of its Class A common stock for approximately $5.7 million in the third quarter of 2010. Since December 2009, when the company acquired 1.5 million shares, a total of 2.9 million or 19 percent of the outstanding shares have been repurchased for approximately $10.9 million.