Safilo sees flat first quarter sales as Asia, US recover

MILAN, March 29 (Reuters) - Italian eye-wear maker Safilo (SFLG.MI) forecast flat first-quarter revenues on Monday 29 March after reporting a 2009 net loss as the global crisis hit sales and led to hefy writedowns.


The maker of Gucci and Dior eyewear said Asian markets, excluding Japan, and the United States showed signs of recovery but demand in Europe remained uncertain.

Safilo, whose banks agreed to a debt restructuring last year, said 2009 net loss was 351 million euros ($472 million) or 33.7 million excluding one-offs.

Analysts had expected a net loss of 120 million euros, according to Thomson Reuters I/B/E/S estimates which do not specify the amount of one-offs.

Safilo said sales fell nearly 12 percent to 1.01 billion euros, in line with expectations.

Safilo shares ended up 1.85 percent at 0.440 euros before its results. (Reporting by Danilo Masoni) ($1 = 0.7439 euro)

© Thomson Reuters 2017 All rights reserved.