Fashion Wire Daily - Paris - Italian sunglasses and reading spectacles specialist Marcolin doubled its net profit in the opening quarter of this year, as the brand posted a 4.4 increase in total sales.

Marcolin said net profit for first quarter of 2008 was 4.8 million euros, or $7.4 million, a massive percent increase on the like period a year earlier.

Turnover grew by 4.4 percent to 56 million euros, or $86.8 million, in the first three months.

Marcolin’s board called the sales rise "a significant increment," achieved "in a difficult international context characterized by a contraction in consumption and a strong devaluation in the dollar."

In a release, Marcolin, which is quoted on the Milan Borsa, forecast that it would post a profit for all of 2008, after three years of red ink.

Last year, Marcolin sold some 5.5 million pairs of glasses, comprising over 600 models. It’s stellar list of brands includes Tom Ford, Roberto Cavalli, Montblanc, Ferrari, Web, DSquared2, Just Cavalli, Kenneth Cole New York, Kenneth Cole Reaction, Miss Sixty Glasses, Replay Eyes, Timberland and Cover Girl.

The Italian company added that EBITDA - Earnings Before Interest, Taxes, Depreciation and Amortization – advanced 37 percent to 10.8 million euros, or $16.7 million, in the opening three months.

However, not all the news was positive, as Marcolin revealed that it net indebtedness widened to 38,9 million euros, $60.3 million, significantly more than the 30,9 million euros, or $47.9 million, one year earlier.