Blog - Page 593 of 887

November 15, 2018May 19, 2026

New Look Vision Reports Record Results for the Third Quarter of 2018

New Look Vision Group Inc. reported financial results today for the 13 and 39 week periods ended September 29, 2018 (“Q3 2018”).

Q3 2018 Financial and Operational Highlights:

Revenues increased by 32.0% over last year to $72.9 million. This results mainly from the impact of the acquisition of Iris, as well as comparable store sales growth.
Comparable store sales orders were up by 0.2%, compared to the third quarter of last year. This marks the 17th consecutive quarter of comparable store sales growth.
Adjusted EBITDA reached $13.9 million, an increase of 28.6% over last year and increased 15.6% on a per share (diluted) basis to $0.89.
Adjusted cash flows from operating activities were $13.6 million, an increase of 27.1% over last year and an increase of 13.0% on a per share (diluted) basis to $0.87.
Net earnings attributable to shareholders reached $4.9 million, compared to $3.4 million last year, the increase being attributable to higher EBITDA, offset partially by higher depreciation, financial expenses, and income taxes. Net earnings on a per share (diluted) basis were $0.31, compared to $0.24 last year, an increase of 29.2%.
Adjusted net earnings attributed to shareholders (defined as net earnings adjusted to remove the impact of acquisition-related costs, equity-based compensation and other non-comparable costs) were $8.8 million, compared to $6.6 million for the same quarter last year. Adjusted net earnings per share (diluted) were $0.56, an increase of 19.1% over the same quarter last year.
The financial performance of the Group allowed it to maintain its quarterly payments of dividends to shareholders of $0.15 per share.
The long-term debt was reduced by $5.7 million through voluntary and contractual repayments, improving the net debt to adjusted EBITDA ratio.

During the third quarter, the Company increased its interest swap coverage to ensure protection against the potential volatility in macro economic indicators. On September 30, 2018 the Company renegotiated certain terms on its credit facilities.

Year-to-date Financial and Operating Results:

Year-to-date revenues and adjusted EBITDA reached a record $219.9 million and $40.6 million respectively, which represent increases of 36.0% and 37.0% respectively over last year. Comparable store sales year-to-date were up 1.4% over last year.
Adjusted cash flows from operating activities were $38.9 million or $2.49 per diluted share, an increase of $9.7 million, or 33.0% over last year.
Net earnings attributed to shareholders were $11.1 million ($0.71 per diluted share) compared to $7.3 million last year ($0.52 per diluted share).
Adjusted net earnings attributed to shareholders, which is net earnings adjusted to remove the impact of depreciation, acquisition related costs, equity-based compensation, and other non-comparable costs were $25.0 million, or $6.8 million over last year. Adjusted net earnings attributed to shareholders increased to $1.60 per diluted share, up 23.1% from $1.30 in 2017.
Free cash flow reached $20.2 million, a 46.3% increase over last year, principally due to increased EBITDA, offset by higher taxes paid.
The long-term debt was reduced by $14.0 million through voluntary and contractual repayments, improving the net debt to adjusted EBITDA ratio.

Antoine Amiel, the President and CEO of New Look Vision, stated that: “The third quarter was a solid quarter with positive financial and operating results as we continued to build the New Look Vision Group platform for future growth both organically and by acquisition, in the consolidating Canadian eyewear market. The Group continues to execute its strategic growth plan generating synergies as well as maintaining focus on deleveraging efforts”.

For the full press release and report, click HERE.

November 14, 2018May 20, 2026

A Striking Round Style from neubau

FLO adds a little something to the trend of round styles. It´s an oversized unisex style with an emphasized eyebrow area which is perfectly tuned with the temples. FLO brings you in the centre of attention.

Distributed by COS: canadianoptical.com

November 13, 2018November 14, 2018

J&J Partners with Singapore National Eye Centre to Tackle Myopia

The Singapore National Eye Centre (SNEC), the Singapore Eye Research Institute (SERI) and Johnson & Johnson Vision announced a US$26.35 million research collaboration to tackle myopia.

The public-private strategic partnership in Asia focused on myopia will create a deeper understanding of how the condition develops, how it progresses and how it may be intercepted. It will focus on developing predictive tools to identify those who may be at risk to develop high myopia, conduct research on the underlying mechanisms of myopia, progress novel therapies, and discover and validate methods to prevent the onset and progression of the condition.

“We are delighted to be collaborating with SERI and SNEC to better understand the underpinnings of this condition and identify ways to halt this global public health threat,” said Paul Stoffels, M.D., Vice Chairman of the Executive Committee and Chief Scientific Officer, Johnson & Johnson. “Together, we hope to bring important progress to individuals and families throughout the Asia Pacific region and ultimately, around the world.”

The program is a collaboration between Johnson & Johnson Vision and the Singapore Eye Research Institute (SERI), which is the research arm of the Singapore National Eye Centre (SNEC), over three years. Johnson & Johnson Vision is making a US$15.78 million investment, comprising cash and in-kind contributions, while SERI’s investment is US$10.57 million in cash and in-kind contributions.

According to Professor Wong Tien Yin, Medical Director at the SNEC, the collaboration will bring together the right mix of resources, clinical and scientific experience, and intellect to create a leading centre for myopia research, clinical care and education practices designed to contribute substantially to regional and global efforts to fight the condition. “SNEC is honored to be working with collaborators coming together to address the growing burden of myopia,” Professor Wong said. “By leveraging the diverse strengths of our clinicians, clinician scientists and strategic partners to establish new disease frameworks and share this knowledge across world communities to help eradicate myopia.”

November 13, 2018November 13, 2018

Water St. Eyecare Joins the FYidoctors Family

FYidoctors announces that Water Street Eyecare, located in Cambridge, Ontario has recently joined the FYidoctors family.

This acquisition adds to FYidoctors growing presence in Ontario. Equipped with a range of diagnostic technology, a wide selection of designer and exclusive label frames and internal freeform lens designs, this location demonstrates FYidoctors’ continued commitment to the southwestern Ontario region.

“Drs. Michael Hall, Jason Ritchie, Ted Smith and Jordan Hall from Water Street Eyecare in Cambridge, Ontario are the latest large group practice to join FYidoctors. They have been providing service to patients for over 32 years, and it continues to humble me when proven optometric leaders want to join our team,” Dr. Alan Ulsifer, Chairman & CEO of FYidoctors, stated.

Like all FYidoctors locations, the new Cambridge location will offer detailed pre-testing, comprehensive eye exams, a menu of current lens technology and custom fittings with our electronic measurement devices.

Dr. Ted Smith stated, “We’re tremendously excited to take the next step in growing our practice by joining the FYidoctors family. We wanted to join a team that understood the importance of optometrist-led care and shared our values. FYidoctors has proven its commitment to investing in the latest technology and innovation to deliver the best patient care, and we look forward to building our practice and serving our community with the FYidoctors team.”

Dr. Ulsifer also added that the new addition will expand FYidoctors’ brand in key markets: “We continue to grow in southern Ontario and this bodes well for improving our brand awareness and utilizing our marketing team to maximize the telling of our story of patient-focused care to more and more people. This addition of Water Street Eyecare is good news for both our Optometrists and our patients.”

Source: FYidoctors

November 13, 2018November 12, 2018

American Academy of Optometry Announces Barbara Caffery as President

The American Academy of Optometry announces Barbara Caffery, OD, PhD, FAAO, as the incoming President. Dr. Caffery was inducted during the Academy’s annual meeting in San Antonio, Texas on November 10, 2018. She is the first Canadian woman to serve as president.

“The American Aacdemy of Optometry is an inspiration to each of its members. Here, dedicated practitioners and vision scientists participate by teaching, mentoring and collaborating, to promote the best evidence-based eye care and to disseminate vital vision science,” said Dr. Caffery.

Dr. Barbara Caffery is a Toronto optometrist who has worked in a group practice since her 1977 graduation from the New England College of Optometry. She is also a member of the University Health Network Multidisciplinary Sjögren’s Syndrome Clinic and the Kensington Vision and Research Centre’s Therapeutic Contact Lens Clinic. She is a Diplomate of the Section on Cornea, Contact Lenses & Refractive Technologies of the Academy.

Dr. Caffery has served on the American Academy of Optometry board since 2007, most recently serving as Secretary-Treasurer (2014-2016) and President-Elect (2016-2018). She was instrumental in the formation of the Fellows Doing Research Special Interest Group designed to train and encourage the performance of clinical research by Fellows of the Academy.

Click HERE for the full press release.