GARDEN CITY, N.Y.—Two significant buying-group acquisitions by Emerging Vision (OTC BB: ISEE.OB) in August 2006 and August 2007 have shifted the balance of the company’s revenues from its traditional retail base to its buying-group business segment, according to Emerging Vision’s recently released annual report for 2007.

Last year, the company’s Florida-based Combine Optical Management group and Ontario-based The Optical Group generated combined revenues of $33.85 million, representing 68.2 percent of Emerging Vision’s total revenues of $49.6 million for 2007.
Boosted by that buying-group growth, Emerging Vision’s overall consolidated revenues rose 128.5 percent last year.

The company’s total retail sales (including $3.5 million in revenues from its VisionCare of California HMO subsidiary) reached $8.9 million for the year, compared to $7.3 million in 2006. Sales through Emerging Vision’s 12 company-owned stores rose 38.1 percent to $5.4 million for the year; comparable-store sales for those locations were up 4.9 percent. Royalties from the 146 franchised Sterling Optical stores were $6.6 million in 2007, down 5.9 percent.

Emerging Vision’s net income was $426,000 in 2007, vs. $1.9 million in net income the prior year.