MONTREAL—New Look Vision Group Inc. (TSX:BCI) this week reported record revenues of $55.2 million and adjusted EBITDA of $10.8 million for the third quarter ended Sept. 30, 2017. The third-quarter sales and EBITDA totals represented increases of 12.8 percent and 35.6 percent, respectively, compared with the year-ago quarter, according to the announcement.

“The revenue increase was mainly due to the net addition of 19 stores in the last 12 months as well as same-store sales growth of 0.9 percent over last year,” New Look Vision reported. “This revenue growth as well as significant improvement in operating expense ratios resulted in the strong adjusted EBITDA performance.”

Antoine Amiel, president, said the company was pleased that the third quarter “was a strong quarter of revenue and earnings growth, resulting from a continued comparable-store and new-store sales growth, a strong focus on improving operating expense ratios and from generating synergies from recent acquisitions.”

He also noted that subsequent to Sept. 30 the company announced the completion of the acquisition of Iris The Visual Group, which increased the company’s “leadership position across Canada with a network of 378 stores.”

For the third quarter, New Look reported adjusted net earnings attributed to shareholders rose significantly to $4.1 million, which compared with $2.8 million in the year-ago period.

Over the nine-month 2017 period, New Look Vision reported revenues and adjusted EBITDA reached a record of $161.6 million and $29.6 million, respectively, which represent increases of 12.2 percent and 15.6 percent, respectively. Net earnings attributed to shareholders were $7.3 million (52 cents per share) compared with $8.0 million last year (58 cents per share).

New Look Vision operates a network of 378 stores mainly under the New Look Eyewear, Vogue Optical, Greiche & Scaff and Iris banners.