BUSINESS: Financial Marcolin S.p.A. Reports Strong U.S. and Asia Performance in First Half 2012 By Staff Wednesday, August 08, 2012 12:20 AM LONGARONE, Italy—The board of Marcolin S.p.A. (MCL-IT) reported profits and an improvement in its net financial position despite a slight decline in net sales and income for the second quarter and first six months of 2012, citing the impact of the macroeconomics of the European market for the period. The company did point to “outstanding” performance in the U.S. and Asia for the period. Group sales were reported at €121.5 million, compared to €124.9 million in the first six months of 2011, a decrease of 2.7 percent. Broken out by geographic region, the softness in the Eurozone market was reflected in sales of €58.8 million, representing a 15 percent sales decline in that region in the first half. Europe represents 48.5 percent of the group’s total turnover. In contrast, Marcolin’s U.S. sales, which represent 24.5 percent of the group’s total turnover, did well for the six-month period with revenues of €29.8 million, a 20.3 percent increase over the prior year period. Sales in Asia, where the company cited significant increases in China, Japan, Korea and Indonesia, also grew by 12.1 percent in the first half, reaching €14.2 million. In the rest of the world, Marcolin cited “good results” in Canada, UAE and Australia. The company noted Asia’s “strategic importance” to the group, noting that the company is increasing its marketing and sales investments and the recent opening of a new showroom in Hong Kong. Net income for the group for the half was €12.6 million, compared with €15.9 million in the first six months of 2011, a 20.5 percent decrease. For the second quarter of 2012, Marcolin’s net sales were down 4.9 percent to €58.0 million while net income for the three month period was €5.3 million compared to €8 million for the year ago period. Giovanni Zoppas, managing director and CEO of Marcolin S.p.A., commented, “The company's investments and focus on the areas of the world that are growing (USA and Far East) and the positive results achieved there so far confirm our expectations that the group will continue to expand in the future. In this context, 2012 promises to be a year of substantial consolidation of the results achieved so far.” Marcolin Group reported that it sold an estimated 6 million pairs of eyeglasses and sunglasses in 2011. Its licensed brand portfolio includes: Balenciaga, Cover Girl Eyewear, Diesel Shades, DSquared2 Eyewear, Hogan Eyewear, John Galliano Eyewear, Just Cavalli, Kenneth Cole New York, Kenneth Cole Reaction, Miss Sixty Glasses, Montblanc Eyewear, Replay Eyes, Roberto Cavalli, Swarovski, Timberland, Tod's Eyewear, Tom Ford Eyewear. The Group's house brands include Marcolin and Web Eyewear.