Tekcapital investee Innovative Eyewear posts Q2 net sales of $1m

(Sharecast News) - Tekcapital said on Monday that its portfolio company Innovative Eyewear reported preliminary second-quarter net sales of about $1.0m, up around 71% year on year, marking its 12th consecutive quarter of revenue growth. First-half sales also rose about 71% to $1.77m, led by continued demand for the Lucyd Armor smart safety eyewear line.

Innovative Eyewear said it had secured an initial purchase order from a Canadian optical retail group with 345 locations and a 50-store test with a major US retailer.

Chief executive Harrison Gross said the results reflected "broad-based momentum" and that the new wholesale partners were "building the foundation for a transformative expansion of our retail presence and our revenue in future periods."

At 1427 BST, shares in Tekcapital were down 2.48% at 5.12p.

Reporting by Josh White for Sharecast.com.

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