Sola International: fiscal 2005 first quarter results

Sola International has announced fiscal year 2005 first quarter results.

Net sales of $165.2 million compared to $154.0 million in the prior year period, an increase of 7.3%. Adjusted net income of $10.5 million compared to $7.5 million in the prior year period. Cash flow from operations of $25.9 million compared to $10.8 million in the prior year period.

Net sales, excluding the impact of currency, increased 3.6% in the quarter with North America increasing 0.3%, Europe increasing 4.8% and Rest of World increasing 8.8%.

Commenting on the fiscal 2005 first quarter, Chief Executive Officer Jeremy Bishop said: 'Considering our first quarter performance, I am reconfirming our fiscal 2005 earnings guidance of $48 million to $50 million'.