MONTREAL, Quebec— New Look Eyewear Inc. (BCI.TO), based here, posted record revenues for both the fourth quarter and year ended Dec. 27, 2014.

New Look’s fourth quarter revenue reached $40.8 million Canada, an increase of 59.4 percent over the corresponding period of last year. This increase was due to a comparable store orders increase of 4.4 percent, additional revenues generated by 122 stores opened or acquired over the past 24 months including the acquisition of the assets and the business of Vogue Optical (65 stores) in December 2013 and the acquisition of the assets and business of the Greiche & Scaff banner (49 stores) last October. Adjusted EBITDA for the fourth quarter was $7.5 million, compared to an adjusted EBITDA of $ $4.4 million last year, an increase of 69.4 percent.

Year-to-date revenues and adjusted EBITDA reached a record $140.2 million and $27.0 million respectively, which represent increases of 54.2 percent and 71.3 percent respectively over last year. Expressed as a percentage of revenues, adjusted EBITDA represented 19.3 percent in 2014 as compared to 17.3 percent in 2013. Cash flows from operating activities (before changes in working capital) increased significantly to $24.3 million.

"The successful acquisition of Greiche & Scaff in the fourth quarter of 2014, following the acquisition of Vogue Optical in December 2013, has moved the New Look group to a new level,” said Antoine Amiel, vice chairman of New Look. “We are now the second largest optical retail chain in Canada and are well positioned to continue to grow and become a national player off of a strong base in Quebec and the Atlantic provinces."

Martial Gagné, president of New Look, commented, "We are pleased to report a strong operating and financial performance in the fourth quarter. As a result, 2014 was a record year for revenues and adjusted EBITDA for the company, reaching $140.2 million and $27.0 million respectively. Same store sales for the year were stable at 1.7 percent while cash flow from operations was very strong, reaching $24.3 million ($1.83 per share).

“All of these and other positive operating and financial factors are concrete evidence of the success of our growth strategy in the past several years, both generic and by acquisition. We now own three of the leading optical retail banners in Eastern Canada, which is our base for future growth in our existing markets and across the country," Gagné said.