Shamir Optical Industry pops on Q1 results that beat the Street
Shares of Shamir Optical Industry Ltd. (Nasdaq: SHMR) got a pop this morning after the provider of products and technology to the progressive ophthalmic lens market reported first-quarter results this morning that beat the consensus on Wall Street. Revenues grew 29% quarter-over-quarter, while earnings grew 25%. The company attributed the robust results to improved efficiencies and investments made in its sales and marketing departments.
Shamir also said that it is increasing its estimated revenue growth for the fiscal year.
Shares gained 15%, or $1.09, to $8.27 in pre-market trading. For detailed price information and recent news stories about Shamir Optical, click SHMR.
