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August 16, 2018August 15, 2018

Hoya Announces Increased Revenue in First Quarter

HOYA announced financial results for the first quarter ended June 30, 2018. During the quarter, revenue increased 9.2% year on year, reaching 138,891 million yen ($1.6 billion CAD). Profit before tax amounted to $422 million, representing a year on year increase of 15.1%.

Sales of eyeglass lenses rose due to growth in Asia and the Americas, combined with the acquisition of Performance Optics. New store openings of Eyecity contact lens specialty stores resulted in higher sales for contact lenses.

Overall, the Life Care segment grew 10.1% year on year. “Profit margin of the Life Care segment reached 19% this quarter and is in line with our expectations for annual margin of 20%,” said Hiroshi Suzuki, chief executive officer of HOYA. “We continue to remain committed to the target margin while investing in the growth opportunities.”

Click HERE for the full report.

August 16, 2018August 15, 2018

The Chemistry of How Blue Light Accelerates AMD

Chemists at the University of Toledo say they have found the mechanism that explains how blue light from digital devices can transform retinal molecules into harmful forms that lead to age-related macular degeneration.

“We are being exposed to blue light continuously, and the eye’s cornea and lens cannot block or reflect it,” Dr. Ajith Karunarathne, assistant professor in the UT Department of Chemistry and Biochemistry, said. “It’s no secret that blue light harms our vision by damaging the eye’s retina. Our experiments explain how this happens, and we hope this leads to therapies that slow macular degeneration, such as a new kind of eye drop.”

According to the paper published in the July edition of Scientific Reports, the culprit is a photoreceptor chromophore called 11-cis retinal (11CR). Upon exposure to blue light 11CR transforms to all-trans retinal (ATR).

When exposed to blue light, 11CR and ATR bind to and disrupts the membrane bound phospholipid named PIP2, eventually leading to cell death. The presence of 11CR on its own did not cause any cell death, nor did exposure to blue light without the presence of 11CR/ATR, but blue light in combination with the chemicals did lead to cell death.

“It’s toxic. If you shine blue light on retinal, the retinal kills photoreceptor cells as the signaling molecule on the membrane dissolves,” Kasun Ratnayake, a PhD student researcher working in Karunarathne’s cellular photo chemistry group, said. “Photoreceptor cells do not regenerate in the eye. When they’re dead, they’re dead for good.”

The news isn’t all bad, however. Alpha tocopherol, a natural antioxidant, can prevent the cells from dying. But as people age they produce less of this antioxidant and our eyes lose this natural protection.

Karunarathne advises that people should wear UV and blue light filtering sunglasses while outdoors, and avoid looking at digital devices in the dark.

*pictured in the image above: Dr. Ajith Karunarathne

August 15, 2018August 15, 2018

New Look Reports Record Results for Second Quarter of 2018

New Look Vision Group reported in their latest financial results that revenues reached a record $77.2 million high for the period, an increase of 39.5%.

The revenue increase was mainly due to the previously announced acquisition of Iris, as well as comparable stores sales growth of 2.6% over the same period last year. As a percentage of revenues, adjusted EBITDA in the second quarter increased to 19.8% from 19.7% for the same period last year.

Net earnings attributed to shareholders were $4.0 million, compared to $2.6 million last year, the increase being mainly due to a higher EBITDA, offset by depreciation, financial expenses, and income taxes.

Antoine Amiel, the President and CEO of New Look Vision, stated that: “The record second quarter ended with strong financial and operating results and progress toward our deleveraging goals. While overall results benefited significantly from the Iris acquisition, Q2 is the 16th consecutive quarter of comparable store sales growth. Entering the second half of the year, we maintain our unwavering focus on integration efforts and strengthening our position in the consolidating Canadian retail optical industry.”

When adjusted for acquisition-related costs and other non-comparable costs, Adjusted cash flows from operating activities were $14.6 million, an increase of 35.4% over the same period last year.

Click HERE for the full press release.

August 14, 2018August 15, 2018

Zeiss Meditech Reports Accelerating Revenue Growth

Carl Zeiss Meditech AG reports that revenue for the previous nine months 2017/2108 increased by 7.1 percent to $1.389 billion CAD.

“As already announced in early July, given the positive revenue growth in the third quarter, the revenue forecast for fiscal year 2017/18 was increased slightly to €1,250m – €1,300m. I am particularly pleased that both Strategic Business Units in all regions once again contributed significantly to this. The positive development of our latest product innovations validates our strategy to further drive forward the development of innovative solutions in the medical sector and to further expand our global orientation,” said Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, commenting on the result.

The ophthalmic devices business unit increased revenue by 6.4 percent, to $1021 million, while microsurgery revenue grew by 9.1 percent. The Americas region was the fastest growing at 11.7%, with a total revenue of $419 million.

Click here to read the full report.

August 13, 2018August 8, 2018

World Sight Day Challenge 2018

An astounding 1.22 billion people around the world are blind or vision-impaired because they do not have access to an eye exam and the glasses they need.

Equally shocking is that 60% of children in the developing world who go blind, die within the first year. The World Sight Day Challenge is a response to these alarming statistics. Coordinated by Optometry Giving Sight, the annual fundraising campaign brings the global optometry community together to raise money and awareness to help provide eye care to those in need. The Challenge is focused on World Sight Day, Thursday October 11^th, and runs throughout October.

After losing her glasses, 14-year-old Cambodian girl Sokhanya cried for days. She knew exactly what it meant to lose them. Now her parents had to walk her to school as she might slip and fall on the uneven road and her beloved art and language classes were now impossible.

A free eye screening service came to her school. After receiving an eye exam and a new pair of glasses, she was again able to walk alone to school, learn, and enjoy the company of her friends. Sokhanya is smiling again and her dream now is to become a nurse to help others.

The World Sight Day Challenge will help fund projects that will transform the lives of children like Sokhanya. Importantly, funds raised will help an additional one million people receive eye care in 2018.

For the past 12 years, thousands of optometrists, their staff, patients, students and families have taken the World Sight Day Challenge and made a difference by making a tax-deductible donation and/or by raising funds in their practice, school or company.

Dr. Kate MacNeill and her team from Edinburgh Optometry in Guelph ON have participated in the Challenge for the past 7 years.

“I have witnessed first-hand the incredible impact on communities when providing eye care in under-serviced areas or when mentoring the graduates of a newly established optometry school. The World Sight Day Challenge unites our doctors and staff in the common goal of raising funds for Optometry Giving Sight. Our patients and broader community have embraced this cause. They have been very generous in supporting our vision of reaching and providing appropriate services in regions where there is need,” said Dr. MacNeill.

Optometry Giving Sight encourages everyone to support the World Sight Day Challenge and help transform the lives of millions of people in need like Sokhanya.

To donate or pledge participation, supporters can visit: https://www.givingsight.org/giving/world-sight-day-challenge.html .

Click HERE for the full press release.

Hoya Announces Increased Revenue in First Quarter

New Look Reports Record Results for Second Quarter of 2018

Zeiss Meditech Reports Accelerating Revenue Growth

World Sight Day Challenge 2018

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