A.T. Cross Company said its Cross Optical Group (COG), which owns the Costa and Native Eyewear sunglass brands, generated sales of $18.0 million in the third quartered ended Oct. 1, up 19.6 percent increase compared to last year.

 

For the nine months ended Oct. 1, COG sales grew 21.6 percent to $59.7 million from $49.1 million in 2010.  ATX said revenues at Cross Optical Group (COG), reached $18.0 million, up 19.6 percent, while operating income reached $2.26 million, or 12.5 percent of net sales in the third quarter, compared to $1.99 million, or 13.2 percent of net sales in the third quarter of 2010.

 

A.T. Cross, which makes Cross pens and other desk and personal accessories through its Cross Accessory Division, said its consolidated sales for the third quarter of 2011 increased by 14.8 percent to $43.8 million compared to $38.2 million in the third quarter of 2010.


“A.T. Cross built upon its outstanding first half performance and delivered a very strong third quarter,” said David G. Whalen, president and CEO for A.T. Cross. “The effort was led by the Cross Optical Group which grew 19.6 percent. The year-to-date performance that our optical team has delivered; including, door expansion, the launch of Costa into the prescription sunglass market and the sponsorship of Kenny Chesney's Goin' Coastal tour has been outstanding.”

 
































































































































A. T. CROSS COMPANY


CONSOLIDATED SUMMARY OF OPERATIONS


(in thousands, except per share amounts)


(unaudited)





Three Months Ended Nine Months Ended

October 1,
2011 		October 2,
2010 		October 1,
2011 		October 2,
2010





Net sales $ 43,809 $ 38,156 $ 131,359 $ 114,277
Cost of goods sold 20,338 17,410 57,347 50,107
Gross Profit 23,471 20,746 74,012 64,170



Selling, general and administrative expenses 17,396 15,918 56,069 50,053
Service and distribution costs 2,325 1,897 6,020 5,366
Research and development expenses 746 694 2,024 2,067
Operating Income 3,004 2,237 9,899 6,684
Interest and other expense (657) (437) (1,010) (853)
Income Before Income Taxes 2,347 1,800 8,889 5,831
Income tax provision 427 170 2,559 1,313
Net Income $ 1,920 $ 1,630 $ 6,330 $ 4,518



Net Income per Share:



Basic $ 0.16 $ 0.13 $ 0.52 $ 0.35
Diluted $ 0.15 $ 0.13 $ 0.49 $ 0.34






















































Three Months Ended Nine Months Ended

October 1,
2011 		October 2,
2010 		October 1,
2011 		October 2,
2010
Segment Data: Cross Accessory Division



Net Sales $ 25,795 $ 23,092 $ 71,681 $ 65,191
Operating Income (Loss) 748 248 (122) (952)



Segment Data: Cross Optical Group



Net Sales $ 18,014 $ 15,064 $ 59,678 $ 49,086
Operating Income 2,256 1,989 10,021 7,636