Unilens Vision Inc. Reports Operating Results for First Quarter of FY 2014

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LARGO, Fla.— Unilens Vision Inc. (OTCQB: UVIC), which develops, licenses, manufactures, distributes and markets specialty contact lenses, reported its operating results for the first quarter of FY 2014.

Product sales increased 4.6 percent to $1.57 million compared with $1.50 million in the first quarter of FY 2013. Disposable lens sales increased 2.3 percent, while sales in the custom soft lens category increased 12.8 percent. Total revenue increased 1.0 percent to $2.05 million compared with $2.03 in the quarter ended Sept. 30, 2012.

"The past few months have been marked by a number of developments that we believe will benefit long-term shareholder value at Unilens," stated Michael Pecora, the company's chief executive officer. "During the first quarter of fiscal 2014, our product sales increased 4.6 percent from prior-year levels, compared with a 1.9 percent year-over-year increase in the fourth quarter of fiscal 2013.

“Encouraging market acceptance of our new C-Vue HydraVUE Multifocal disposable lenses allowed us to post a modest sales increase in our disposable lens category for the first time in several years, and the expanding popularity of our C-Vue Advanced HydraVUE line of completely customizable silicone hydrogel contact lenses for monthly replacement continued to allow our custom lens business to increase at double-digit percentage growth rates," he said.