MILAN — Despite reporting a $5.1 million operating loss in the third quarter, Italian eyewear firm Marcolin SpA said Tuesday it expects to remain profitable in 2009 after sales improved 10 percent in October.
The 2009 accounts will close with a meaningful profit and a limited reduction in turnover compared to last year’s levels,” Marcolin chief executive officer Massimo Saracchi stated. “The group will be able to achieve further positive results in terms of sales and profits in the final part of the year.”
Pretax losses for the three months through Sept. 30 widened to 3.6 million euros, or $5.1 million, from 2.5 million euros, or $3.8 million, last year.
Sales declined 8.5 percent to 30.9 million euros, or $44.2 million, from 33.8
million euros, or $50.9 million.
Nine-month earnings fell 8.3 percent to 4.4 million euros, or $6 million, hurt by declining sales in Europe.
Dollar figures were converted at average exchange rates for the periods to which they refer.
The group, which manufactures eyewear under license for brands including DSquared2, John Galliano, Miss Sixty, Roberto Cavalli, Swarovski, Tod’s and Tom Ford returned to profitability last year after three years of losses.