LUX » Topics » This information is being provided for comparison purposes only and does not purport to be indicative of the actual results that would have been achieved had the Cole acquisition been completed as of January 1, 2004.

These excerpts taken from the LUX 6-K filed Dec 23, 2005.

        This information is being provided for comparison purposes only and does not purport to be indicative of the actual results that would have been achieved had the Cole acquisition been completed as of January 1, 2004.

        The following table reflects the Company's consolidated net sales and income from operations for the second quarter of 2004 as reported and as adjusted (in millions of Euro):


 
  2Q 04
U.S. GAAP
Results

  Adjustment
for Cole

  2Q 04
adjusted results


Consolidated net sales   811.7   256.8   1,068.5
Consolidated income from operations   139.1   3.2   142.3

48


        The following table summarizes the combined effect on consolidated net sales of exchange rates and the Cole acquisition, to allow a comparison of operating performance on a consistent basis (in millions of Euro):

 
  Consolidated Net Sales

 

 
 
  2Q 04

  2Q 05

  % change

 

 
US GAAP results   811.7   1,145.6   +41.1 %
Exchange rate effect       31.5      
Constant exchange rate   811.7   1,177.1   +45.0 %
Cole results in 2004   256.8          
Consistent basis   1,068.5   1,177.1   +10.2 %

 

        The 10.2 percent increase in net sales on a consistent basis in the second quarter of 2005 as compared to the same period of 2004, as adjusted, is mainly attributable to the additional sales of our Ray-Ban product lines, as well as to the additional sales of the new Prada and Versace product lines and increased comparable store sales2 of our retail division.


(2)
Comparable store sales reflects the change in sales from one period to another that, for comparison purposes, includes in the calculation only stores open in the more recent period that also were open during the comparable prior period, and applies to both periods the average exchange rate for the prior period and the same geographic area. The calculation of comparable store sales for the second quarter of 2005 includes relevant stores of the former Cole National business as if the Cole National acqusition had been completed as of January 1, 2004. Cole National results are actually consolidated with Luxottica Group results only as of the October 4, 2004 acquisition date.

        The following table summarizes the effect on consolidated income from operations of the Cole acquisition to allow a comparison of operating performance on a consistent basis (in millions of Euro):

 
  Consolidated Income from Operations

 

 
 
  2Q 04

  2Q 05

  % change

 

 
US GAAP results   139.1   165.7   19.1 %
% of net sales   17.1 % 14.5 %    
   
 
 
 
Cole results in 2004   3.2          
   
 
 
 
Consistent basis   142.3   165.7   16.4 %
% of net sales   13.3 % 14.5 %    

 

        On a consolidated adjusted basis, including Cole's results for the three-month period ended June 30, 2004, income from operations in the three-month period ended June 30, 2005 would have increased by 16.4 percent and operating margin would have increased to 14.5 percent from 13.3 percent as compared to the same period of 2004.

        This information is being provided for comparison purposes only and does not purport to be indicative of the actual results that would have been achieved had the Cole acquisition been completed as of January 1, 2004.

        The following table reflects the Company's consolidated net sales and income from operations for the second quarter of 2004 as reported and as adjusted (in millions of Euro):


 
  2Q 04
U.S. GAAP
Results

  Adjustment
for Cole

  2Q 04
adjusted results


Consolidated net sales   811.7   256.8   1,068.5
Consolidated income from operations   139.1   3.2   142.3

48


        The following table summarizes the combined effect on consolidated net sales of exchange rates and the Cole acquisition, to allow a comparison of operating performance on a consistent basis (in millions of Euro):

 
  Consolidated Net Sales

 

 
 
  2Q 04

  2Q 05

  % change

 

 
US GAAP results   811.7   1,145.6   +41.1 %
Exchange rate effect       31.5      
Constant exchange rate   811.7   1,177.1   +45.0 %
Cole results in 2004   256.8          
Consistent basis   1,068.5   1,177.1   +10.2 %

 

        The 10.2 percent increase in net sales on a consistent basis in the second quarter of 2005 as compared to the same period of 2004, as adjusted, is mainly attributable to the additional sales of our Ray-Ban product lines, as well as to the additional sales of the new Prada and Versace product lines and increased comparable store sales2 of our retail division.


(2)
Comparable store sales reflects the change in sales from one period to another that, for comparison purposes, includes in the calculation only stores open in the more recent period that also were open during the comparable prior period, and applies to both periods the average exchange rate for the prior period and the same geographic area. The calculation of comparable store sales for the second quarter of 2005 includes relevant stores of the former Cole National business as if the Cole National acqusition had been completed as of January 1, 2004. Cole National results are actually consolidated with Luxottica Group results only as of the October 4, 2004 acquisition date.

        The following table summarizes the effect on consolidated income from operations of the Cole acquisition to allow a comparison of operating performance on a consistent basis (in millions of Euro):

 
  Consolidated Income from Operations

 

 
 
  2Q 04

  2Q 05

  % change

 

 
US GAAP results   139.1   165.7   19.1 %
% of net sales   17.1 % 14.5 %    
   
 
 
 
Cole results in 2004   3.2          
   
 
 
 
Consistent basis   142.3   165.7   16.4 %
% of net sales   13.3 % 14.5 %    

 

        On a consolidated adjusted basis, including Cole's results for the three-month period ended June 30, 2004, income from operations in the three-month period ended June 30, 2005 would have increased by 16.4 percent and operating margin would have increased to 14.5 percent from 13.3 percent as compared to the same period of 2004.

This excerpt taken from the LUX 6-K filed Sep 29, 2005.

        This information is being provided for comparison purposes only and does not purport to be indicative of the actual results that would have been achieved had the Cole acquisition been completed as of January 1, 2004.

        The following table reflects the Company's consolidated net sales and income from operations for the second quarter of 2004 as reported and as adjusted (in millions of Euro):


 
  2Q 04
U.S. GAAP
Results

  Adjustment
for Cole

  2Q 04
adjusted results


Consolidated net sales   811.7   256.8   1,068.5
Consolidated income from operations   139.1   3.2   142.3

23


        The following table summarizes the combined effect on consolidated net sales of exchange rates and the Cole acquisition, to allow a comparison of operating performance on a consistent basis (in millions of Euro):

 
  Consolidated Net Sales

 

 
 
  2Q 04

  2Q 05

  % change

 

 
US GAAP results   811.7   1,145.6   +41.1 %
Exchange rate effect       31.5      
Constant exchange rate   811.7   1,177.1   +45.0 %
Cole results in 2004   256.8          
Consistent basis   1,068.5   1,177.1   +10.2 %

 

        The 10.2 percent increase in net sales on a consistent basis in the second quarter of 2005 as compared to the same period of 2004, as adjusted, is mainly attributable to the additional sales of our Ray-Ban product lines, as well as to the additional sales of the new Prada and Versace product lines and increased comparable store sales2 of our retail division.


(2)
Comparable store sales reflects the change in sales from one period to another that, for comparison purposes, includes in the calculation only stores open in the more recent period that also were open during the comparable prior period, and applies to both periods the average exchange rate for the prior period and the same geographic area. The calculation of comparable store sales for the second quarter of 2005 includes relevant stores of the former Cole National business as if the Cole National acqusition had been completed as of January 1, 2004. Cole National results are actually consolidated with Luxottica Group results only as of the October 4, 2004 acquisition date.

        The following table summarizes the effect on consolidated income from operations of the Cole acquisition to allow a comparison of operating performance on a consistent basis (in millions of Euro):

 
  Consolidated Income from Operations

 

 
 
  2Q 04

  2Q 05

  % change

 

 
US GAAP results   139.1   165.7   19.1 %
% of net sales   17.1 % 14.5 %    
   
 
 
 
Cole results in 2004   3.2          
   
 
 
 
Consistent basis   142.3   165.7   16.4 %
% of net sales   13.3 % 14.5 %    

 

        On a consolidated adjusted basis, including Cole's results for the three-month period ended June 30, 2004, income from operations in the three-month period ended June 30, 2005 would have increased by 16.4 percent and operating margin would have increased to 14.5 percent from 13.3 percent as compared to the same period of 2004.

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