This excerpt taken from the LUX 6-K filed Nov 8, 2006.
Milan, Italy November 6, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), the global leader in the eyewear sector, today announced consolidated U.S. GAAP results for the three- and nine-month periods ended September 30, 2006.
Consolidated results for both periods reflect the sale of the Things Remembered business in September of this year, which is reported under U.S. GAAP as a discontinued operation. Consequently, results of the Things Remembered business for the three- and nine-month periods ended September 30, 2005 and 2006 are not included in the Groups consolidated sales, operating income and net income from continuing operations reported today.
Financial highlights for the respective periods were as follows:
Third quarter of 2006(1)
This excerpt taken from the LUX 6-K filed Nov 3, 2006.
Milan, Italy - November 2, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) today announced an expansion of its retail operations in North America through the signing of a definitive agreement to acquire D.O.C Optics, an optical retail business with approximately 100 stores located primarily in the Midwest United States.
Leonardo Del Vecchio, chairman of Luxottica Group, commented: Our North American retail business is today on track to deliver strong results for 2006, yet we believe that there continue to be opportunities for significant additional growth in that market. The D.O.C Optics transaction represents another key step in our long-stated strategy to maximize growth opportunities for our optical retail brands, including LensCrafters and Pearle Vision.
D.O.C Optics stores operate in Michigan, Ohio, Missouri, Wisconsin, Florida and Illinois with a majority of its retail locations in and around the Detroit metropolitan area. D.O.C Optics is projected to post system revenues for fiscal year 2006 in excess of US$100 million.
Luxottica Group has long admired the D.O.C Optics business, founded by Dr. Donald Golden in 1946. With the Golden family, the Group shares a commitment to quality, innovation and customer service. D.O.C Optics is deeply rooted in the community, with a brand image, customer profile and existing focus on fashion already aligned with those of the Groups retail operations in the region. This makes the combination of D.O.C Optics and Luxottica Groups existing retail operations an excellent fit for expanding the Groups presence in the Midwest.
In connection with this asset transaction, Luxottica Group expects the total purchase price, net of expected tax benefits, to approximate US$90 million. The closing of the transaction is expected to occur during the first quarter of 2007, subject to customary closing conditions and U.S. regulatory approvals.
The Group will discuss this transaction on its regularly-scheduled quarterly investor conference call scheduled for Monday, November 6 and available via webcast through the investor relations section of Luxottica Groups website at www.luxottica.com.
This excerpt taken from the LUX 6-K filed Oct 3, 2006.
Milan, Italy September 29, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) announced today that it has sold the Things Remembered subsidiary of Cole National to GB Merchant Partners, LLC, the private equity affiliate of Gordon Brothers Group, and Bruckmann, Rosser, Sherrill & Co. (BRS) for consideration with an approximate value of US$200 million.
This business, which had been acquired in October 2004 through the acquisition of Cole National, was non-core for Luxottica Group and, since the acquisition, the Group managed it separately from its eyewear retail business through a separate corporate structure. Things Remembered is a U.S.- based personalized gift retail chain that serves customers through 653 locations nationwide, catalogs and the Internet.
The closing of the sale took place simultaneously with the signing of the purchase agreement with GB Merchant Partners and BRS.
The sale of the Things Remembered business is not expected to have an impact on the Groups 2006 results. As a result, Luxottica Group confirms its previously announced earnings forecast for fiscal year 2006 of between 0.93 and 0.94 per share (or between US$1.16 and US$1.17 per American Depositary Share), including results of Things Remembereds discontinued operations through today.
This excerpt taken from the LUX 6-K filed Aug 3, 2006.
Milan, Italy July 27, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), the global leader in the eyewear sector, today announced consolidated U.S. GAAP results for the three- and six-month periods ended June 30, 2006. Financial highlights for the respective periods were as follows:
This excerpt taken from the LUX 6-K filed Jun 20, 2006.
Milan, Italy June 14, 2006 Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) today announced that shareholders at the Companys Annual General Meeting held today approved the payment of a cash dividend for fiscal year 2005 of 0.29 per ordinary share and per American Depositary Share (ADS) (one ADS represents one ordinary share), representing a 26 percent year-over-year increase. For fiscal year 2004, shareholders approved the payment of a cash dividend of 0.23 per ordinary share and ADS.
At the Meeting, shareholders also approved:
· The Groups statutory financial statement and IFRS consolidated financial statements for fiscal year 2005, in accordance with Italian law
· The increase in the number of Directors to serve on the Board to 14
· The appointment of the Board of Directors and the Board of Statutory Auditors for the three-year term through the fiscal year to end December 31, 2008
· The appointment of Deloitte & Touche as the Groups independent auditors for the fiscal years 2006 through 2011
· And, a capital increase in an amount up to a maximum nominal value of 1.2 million to be reserved for grants under the 2006 Stock Options Plan to employees of the Group and its subsidiaries for terms up to nine years.
Shareholders approved the appointment of Luxottica Groups Board of Directors as follows: Leonardo Del Vecchio, Luigi Francavilla, Andrea Guerra, Roger Abravanel, Tancredi Bianchi, Mario Cattaneo, Enrico Cavatorta, Roberto Chemello, Claudio Costamagna, Claudio Del Vecchio, Sergio Erede, Sabina Grossi, Gianni Mion and Lucio Rondelli. Shareholders also approved the appointment of the Groups Board of Statutory Auditors as follows: Marco Reboa (chairman), Giorgio Silva, and Enrico Cervellera.
Further, at a meeting held immediately following the Annual General Meeting of Shareholders the newly appointed Board confirmed Mr. Del Vecchio as chairman, Mr. Francavilla as vice chairman and Mr. Guerra as chief executive officer. Additionally, the Board appointed the Internal Control and Human Resources committees.
Regarding the cash dividend, it will be paid to holders of record of ordinary shares as of June 16, and to holders of record of American Depositary Receipts (ADRs) as of June 21. The ex-
dividend date for both holders of ordinary shares and ADRs will be June 19, 2006. Luxottica Group will make the dividend payable in Euro to holders of ordinary shares on June 22, 2006. Deutsche Bank Trust Company Americas, the depositary bank of Luxottica Groups ordinary shares represented by ADRs, will make the dividend payable in U.S. Dollars to ADR holders on June 29, 2006, at the Euro/U.S. Dollar exchange rate of June 22, 2006. Information regarding the tax regime applicable to the payment of Luxottica Group dividends is available from the Groups corporate website at www.luxottica.com.
This excerpt taken from the LUX 6-K filed May 19, 2006.
Milan - Italy, May 19, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) today indicated that it will pay the equivalent of approx. Euro 47 million for the acquisition announced yesterday of the Canadian optical retail chain Shoppers Optical. The Group further indicated that it expects total tax benefits directly related to this assets-only acquisition for the equivalent of approx. Euro 9 million.
This excerpt taken from the LUX 6-K filed Apr 28, 2006.
Milan, Italy April 27, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), a global leader in eyewear, today announced consolidated U.S. GAAP results for the first quarter of 2006 and the proposed cash dividend payment for fiscal year 2005.
Financial highlights for the first quarter of 2006(1)
This excerpt taken from the LUX 6-K filed Mar 22, 2006.
Milan, Italy, March 14, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) today announced that it has changed duration, margins and amount of the approximately 1.0 billion credit facility originally provided in 2004.
Enrico Cavatorta, chief financial officer of Luxottica Group, commented: We are particularly pleased with the improvement in the terms and the increase in the amount of the credit facility. We believe it reflects a strong show of confidence in our Group from a pool of leading national and international banks.
We were able to secure more advantageous terms, with a spread of between 20 and 40 basis points over LIBOR (depending on the debt to EBITDA ratio), compared with between 40 and 60 basis points of the original terms, as well as the extension of two tranches of the credit facility. In addition, we increased the amount of the revolving tranche from 335 million to 725 million, still below what the banks would have been able to provide, reflecting the ability of our Group to secure best market conditions for its financing needs.
The Bookrunners are Bank of America, Citigroup, The Royal Bank of Scotland and UniCredit Banca Mobiliare. The Mandated Lead Arrangers are ABN AMRO, Banca Intesa, Calyon, Capitalia and Mediobanca.
About Luxottica Group S.p.A.
Luxottica Group is a global leader in eyewear, with nearly 5,500 optical and sun retail stores mainly in North America, Asia-Pacific and China and a well-balanced portfolio that comprises leading premium house and licensed brands, including Ray-Ban, the best selling sun and prescription eyewear brand in the world. Among others, the Groups brand portfolio includes house brands Vogue, Persol, Arnette and REVO and license brands Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Prada, Versace and Polo Ralph Lauren, from January 2007. Luxottica Groups global wholesale network touches 120 countries, with a direct presence in the key 28 eyewear markets worldwide. The Groups products are designed and manufactured at its six Italy-based high-quality manufacturing plants and at the only China-based plant wholly-owned by a premium eyewear manufacturer. For fiscal year 2005, Luxottica Group posted consolidated net sales and net income of 4.3 billion and 342.3 million, respectively. Additional information on the Group is available at www.luxottica.com.
This excerpt taken from the LUX 6-K filed Jan 31, 2006.
Milan, Italy January 31, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), global leader in the eyewear sector, today announced consolidated U.S. GAAP results for the three-month period and fiscal year ended December 31, 2005.
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