Corporate Profile for Sight Resource Corporation, dated Nov. 6, 1998.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Nov. 6, 1998
Company Name: Sight Resource Corporation
Address: 100 Jeffrey Ave.
Holliston, MA 01746
Main Telephone
Number: 508-429-6916
Internet Home
Page Address
(URL) www.sightresource.com
Chief Executive
Officer: William T. Sullivan
Chief Financial
Officer: James W. Norton
Investor Relations
Contact: Nils Bonde-Henriksen
Business number: 508-429-3711
Home number: 617-864-8846
Public Relations
Contact: Nils Bonde-Henriksen
Trading Symbol/
Exchange: NASDAQ:VISN
Industry: Retail Eye Care Chains
Market Makers: George K. Baum + Co.; Miller, Johnson + Kuehn,
Inc.; Fahnestock + Co., Inc.; others available
Company description: Sight Resource Corporation, one of the 20 largest providers of retail eyewear eye·wear n. 1. Eyeglasses, goggles, or other objects worn over the eyes. 2. Fashionable eyeglasses. products and services in the US, has grown from $0.5 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues in 1995 to more than $55 million today. To date the company has acquired five regionally dominant chains in Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. , Rhode Island Rhode Island, island, United StatesRhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , Ohio, Louisiana and Indiana. The fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. nature of the $19 billion US primary eye care market provides substantial opportunities for consolidation. Managed care's increasing role, and the demands it creates for widespread distribution networks within regional markets, further supports the company's strategy. The top 100 chains in the country account for only 35% of retail eyewear sales, leaving 65% of the market in the hands of "mom and pop Mom and Pop An adjective denoting a small-scale and family-like atmosphere, often used to describe these types of businesses and investors. Notes: A mom-and-pop business is typically a small family-run business. " operators who are poorly equipped to meet the demands of managed care. In January of 1998, the company hired William T. Sullivan as President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . His mission is to improve profitability while continuing to grow the company. Sullivan's career includes serving for eleven years in senior management positions for Pearle Vision Center, including four years as President, which he helped grow to over $450 million in sales. 52 week stock range: $1 5/8 - $5 1/2 Net income Q3 1998: $143,000 |
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