PADUA, Italy—The board of directors of Safilo Group S.p.A. (SFL.MI) has approved the results of the third quarter and first nine months of 2010, ended Sept. 30, 2010.

In the third quarter of 2010, the company’s revenues increased by 11.9 percent (all percentages at current exchange rates), excluding the already sold optical retail chains in Australia and Spain, which in the third quarter of 2009, had recorded sales of €9.4 million. Sales growth was due to the resilient performance of the Asian markets, with China representing the key growth engine, and good results in the Americas, which registered solid performance both in the sunglass and prescription frames businesses, according to the company. The group also posted sales growth in Europe, with Spain and France showing healthy trends.

“The third quarter provided another encouraging set of results for Safilo and was marked by some important achievements,” said Roberto Vedovotto, CEO of the Safilo Group. “We continue to see improving business trends, and our performance has been driven by better results in selected European markets, resilient performance in the U.S., and solid growth in emerging markets. At the end of September, we announced the renewal of the partnership with Christian Dior, one of the highest-ranked luxury industry leaders. This strategic agreement represents a key milestone for Safilo Group in its new journey.”

Net sales of Safilo Group totaled €237.9 million in the third quarter of 2010, growing by 11.9 percent compared to €212.6 million reported in the third quarter of 2009. In the first nine months of 2010, Safilo generated revenues of €818.2 million, with an increase of 5.6 percent over the same period of 2009, thanks in part to the performance of the wholesale channel, with sales of €214.6 million in the third quarter of 2010, up by 16.5 percent at current exchange rates compared to €184.3 million in the third quarter of 2009. In the first nine months of 2010, the wholesale channel sales grew by 8.5 percent to €751.1 million, compared with €692.0 million in the first nine months of 2009. Performance in the retail channel also contributed to increased net sales with an increase of 9.5 percent in the third quarter, mostly thanks to higher comp sales at Solstice sun business stores in the U.S., the company said.

On the wholesale side, sales of sunglasses were up 19.3 percent in the third quarter and 8.8 percent in the first nine months. Prescription frames also posted improved results in the third quarter helped in particular by a better price/mix of products, a sign of consumers returning to higher value sales tickets, the company said. Sales of prescription frames were up 7.6 percent in the third quarter, totaling an increase of 2 percent for the first nine months of 2010.

From a geographical standpoint, in the third quarter of 2010, sales in the Americas improved 21.7 percent compared to the same period of 2009. The U.S. market posted the highest sales improvement thanks to the results of the sunglasses collections, while sales of prescription frames at independent opticians recovered some growth in the quarter, according to the company. Sales of Smith sport products contributed to growth in the region due to a solid pre-season order base and a significant increase in distribution. Sales in the Americas in the first nine months of 2010 increased by 12.4 percent.

The group’s net result improved considerably in the third quarter of 2010, reflecting a loss of €365,000 compared to the loss from ordinary activities of €22.1 million registered in the third quarter of 2009. In the first nine months of 2010, the company’s net result was a loss of €3.6 million compared with the loss from ordinary activities of €30.0 million in the first nine months of 2009.