CHARENTON-LE-PONT, France—Essilor International [ISIN: FR 0000121667] reported consolidated revenue of €1,520.2 millions for the six months ended June 30, 2008, an increase of 2.9 percent increase versus year-ago, or 9.6 percent excluding the currency effect. Net profit totaled €201.4 million, an increase of 9.6 percent, or 16.8 percent at constant exchange rates. Changes in the scope of consolidation boosted revenue by 4.2 percent, reflecting the contributions of the 13 businesses Essilor acquired in the first half of 2008 as well as those it acquired in 2007.

Among the first-half hightlights cited by Essilor were sustained business growth in North America, Latin America, the ASEAN countries, China and India; successful new products, notably the sixth-generation of Transitions variable-tint lenses and Crizal Avancé anti-reflective lenses with Scotchgard Protector.

In July, Essilor introduced a share buyback program to offset the dilutive impact of OCEANE bonds due in 2010 in the event that the remaining bonds are converted into new or existing shares. The program consists of purchasing 6.9 million shares, or 3.3 percent of the capital, and is financed by cash and routine borrowings. The buyback will continue through the end of the year and, if necessary, may extend into 2009, according to Essilor. In addition to this specific program, Essilor said it will continue to buy back shares to reduce the dilutive impact of stock option and performance share grants.