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 the company’s 10-Q report filed last week with the Securities and Exchange Commission.

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—swhich 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.

Franchise royalties were $4.2 million in the nine-month period, while sales from company-owned stores generated $2.3 million. Vision Care of California contributed $2.7 million in membership fees during this year’s first three quarters.

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.

Commented Glenn Spina, Emerging Vision’s chief executive officer, “The company-store segment continues to show 20 percent to 30 percent increases in top-line revenue quarter over quarter and year over year, which has been driven by our new marketing campaign, product remerchandising and intensive hands-on training.”

Spina added, “We must use these successes as a blueprint and a springboard to close out the year on a strong note and to begin 2011 with a greater understanding and a firm commitment of what needs to be done for our long-term success.”