Signature Eyewear, Inc., the maker of Cutter & Buck and Hummer eyewear, was able to pull off its fourth consecutive year in the midst of an economic meltdown. The company reported net income of $622,000 on net sales of $24.5 million for the fiscal year ended Oct. 31, 2008. In fiscal 2007, Signature recorded net income of $2.7 million on net sales of $25.0 million.
Net income in fiscal 2008 was positively affected by an increase in gross margin from 63.9% in fiscal 2007 to 64.2% in fiscal 2008. This increase was due primarily to increasing sales of higher margin products to the independent optical retailers.
