MONTREAL, QUEBEC—New Look Vision Group Inc. (BCI.TO) reported last week that recent acquisitions and organic growth helped the company achieve record revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in both the fourth quarter and fiscal year ended Dec. 31, 2016.

In a statement, New Look president Antoine Amiel said the company now has “reached a run rate of $200 million (Canadian dollars) of revenues from a network of 220 stores, which we believe makes us the largest optical retailer in Canada.” He cited the “strengthening [of] our historic markets” in eastern Canada and the expansion of the company’s geographical footprint across the country as other key factors in the company’s results.

New Look reported revenues of $54.5 million and adjusted EBITDA of $9.8 million for the fourth quarter, which represented increases of 22.1 percent and 1.1 percent, respectively, over the prior year. The increases were “mainly due to the net addition of 27 stores in the last 12 months as well as same-store sales growth of 4.6 percent,” New Look said in its statement.

Net earnings adjusted to remove the impact of acquisition-related costs and equity-based compensation totaled $4.3 million in the fourth quarter, which compares with $4.3 million in the year-ago period.

Full year 2016 revenues totaled $198.5 million and adjusted EBITDA reached $35.4 million. This represented increases of 13.7 percent and 5.5 percent, respectively, according to the company. Same-store sales in 2016 increased 4.1 percent compared with the prior year. Net earnings attributed to shareholders totaled $11.2 million compared with $9.2 million in the year-ago period.

In the statement, Amiel said the company was pleased with the results. “In the fourth quarter, revenues and comparable-store sales were strong, while profitability was impacted primarily by aggressive promotional activities, affecting cost of goods sold, a 53rd week in the reporting calendar, and costs associated with building the company`s long-term business,” he said.

“We continue to monitor the opportunities arising from the ongoing consolidation of the Canadian retail optical industry. Subsequent to the year-end, we acquired three retail optical stores in Toronto. We expect such acquisition activity to continue through 2017 and beyond," he said.

New Look, a leading provider of eyecare products and services in eastern Canada, has three main retail optical banners: New Look Eyewear, Vogue Optical and Greiche & Scaff.