A.T. Cross Company said it expects 2012 earnings per share to meet its previously issued guidance of 70 cents thanks in large part to robust sales of its Native and Costa eyewear. The company reported earnings per share of 64 cents in 2011.


Preliminary financial results showed revenues grew 3 percent in 2012 as a 15 percent increase at Cross Optical Group, which owns the Native Eyewear and Costa optical brands, more than offset a 5 percent decline at the Cross Accessory Division, which makes Cross pens and other personal accessories. Complete 2012 financial results are expected to be released on Feb. 20, 2013.


The company is providing fully diluted earnings per share guidance for 2013 of between 78 and 82 cents.


“Increased investment in our Cross Optical Group continued to drive our positive financial results as we expanded both the Costa and Native brands into new doors and geographies, built the Costa prescription sunglass program, pursued the sports performance apparel market with Costa brand merchandise and introduced several successful new Native products including the Odyssey series with its proprietary N3 lens, said David G. Whalen, president and CEO of A.T. Cross, said. Our confidence in the Optical Group’s business model and growth prospects is very high.”


Whalen attributed a 5 percent decline in sales at Cross Accessory Division in 2012 to a 19 percent decline in sales in the EMEA region due to weak economic conditions. Revenue in the Americas and Asia regions grew 3 percent.


In the fourth quarter, the trend in Europe improved and we expect this momentum to continue into the new year, Whalen said. We expect the Cross Accessory Division to grow modestly in 2013.”