6-K

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   ----------

                                    FORM 6-K

                                   ----------

                            REPORT OF FOREIGN ISSUER

                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                   REPORT ON FORM 6-K DATED NOVEMBER 23, 2010

                        Commission File Number: 000-51183

                                   ----------

                          SHAMIR OPTICAL INDUSTRY LTD.
                 (Translation of Registrant's Name Into English)

                                   ----------

                      Kibbutz Shamir, Upper Galilee, 12135
                    (Address of principal executive offices)

                                   ----------

     (Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F).

                        Form 20-F [X]   Form 40-F  [_]

     (Indicate by check whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934).

                              Yes [_]   No [X]

     (If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b);82-_______)

Attached hereto as Exhibit 99.1 is a press release dated November 23, 2010,
relating to the Registrant's financial results for the third quarter of 2010.
Also attached, as Exhibit 99.2, is a redacted version of the press release, from
which certain non-GAAP financial information has been deleted.

Exhibit 99.2 is hereby incorporated by reference into the Registration
Statements on Form S-8 of the Registrant (registration Nos. 333-137628,
333-145945, and 333-153396).

================================================================================

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                   Shamir Optical Industry Ltd.
                                   (Registrant)

Date: November 23, 2010
                                           By: /s/ David Bar-Yosef
                                           ------------------------------
                                           David Bar-Yosef, Advocate
                                           General Counsel

EX-99

                                                                    EXHIBIT 99.1

Investor Relations Contacts:
Roni Gavrielov                            Jeffrey Goldberger/Marybeth Csaby
KM / KCSA Investor Relations              KCSA Strategic Communications
+972-3-516-7620                           212-896-1249/212-896-1236
roni@km-ir.co.il                          jgoldberger@kcsa.com / mcsaby@kcsa.com

                          SHAMIR OPTICAL INDUSTRY LTD.
                        REPORTS THIRD QUATER 2010 RESULTS

                    NET INCOME INCREASED 18.5% YEAR-OVER-YEAR

     KIBBUTZ SHAMIR, ISRAEL, NOVEMBER 23, 2010 - Shamir Optical Industry Ltd.
(Nasdaq: SHMR) ("SHAMIR"), a leading provider of innovative products and
technology to the ophthalmic lens market, today announced unaudited financial
results for the third quarter ended September 30, 2010.

     For the quarter ended September 30, 2010, revenues increased 4.7% to $37.8
million, compared with revenues of $36.2 million for the same period in 2009.
Gross profit for the quarter was $20.8 million, or 54.9% of revenues, compared
with gross profit of $19.7 million, or 54.6% of revenues for the same period
last year.

     For the quarter ended September 30, 2010, operating income decreased 7.0%
to $4.5 million, or 11.9% of revenues, compared with operating income of $4.8
million, or 13.4% of revenues for the same period last year. The reduction in
operating income year-over-year was primarily the result of increased research
and development costs and elevated general and administrative costs associated
with the Company's recently announced transaction with Essilor International.

     Net income for the quarter increased 18.5% to $4.3 million, compared with
net income of $3.7 million for the same period in 2009. Net income attributable
to Shamir's shareholders was $4.2 million or $0.25 per diluted share, compared
with $3.6 million or $0.22 per diluted share for the same period in 2009.

     Excluding the effect of non-cash stock-based compensation expenses,
amortization of intangible assets and Essilor transaction costs in 2010,
operating income for the quarter was $5.5 million, or 14.5% of revenues,
compared with operating income of $5.2 million, or 14.3% of revenues, for the
same period last year.

     Excluding the effect of non-cash stock-based compensation expenses,
amortization of intangible assets, net of tax, accretion of redeemable
non-controlling interest and Essilor transaction costs, net of tax in 2010, net
income attributable to Shamir's shareholders for the quarter was $4.8 million,
or $0.29 per diluted share, compared with net income of $3.9 million, or $0.24
per diluted share for the same period last year.

     The reconciliation of GAAP operating income and net income to non-GAAP
operating income and non-GAAP net income is set forth below.

     As of September 30, 2010, the Company had cash and cash equivalents,
including short-term investments of $37.8 million. As was previously announced,
the Company declared a dividend in the amount of $13.5 million (approximately
$0.804 per share) to be paid on November 24, 2010.

     Commenting on the results, Amos Netzer, Chief Executive Officer of Shamir,
said, "I am pleased with our results for the third quarter of 2010 We executed
solidly and continued to make important inroads in many of our operating
markets, with the goal of advancing the recognition for Shamir-branded products.
Concurrent with these efforts, we continue to stress the importance of strict
cost controls, which has always been a major component of our operating
philosophy."

SHAMIR / PAGE 2

     Mr. Netzer continued, "To support our long range goals of expanding our
worldwide sales, we recently executed an agreement with a local distributor of
our products in the Netherlands. We are confident in our ability to penetrate
and expend our holdings in this market and to promote the Shamir brand in the
Benelux region."

     For the fiscal year ending December 31, 2010, Shamir confirmed its estimate
for 2010 revenue growth to be in the range of 11%-15%, under the assumption of
December 2009 exchange rates.

CONFERENCE CALL:

     Shamir has scheduled a conference call for 10:00 a.m. ET today to discuss
third quarter results. To participate in the call, please dial (888) 562.3356
(U.S. and Canada) or (973) 582.2700 (International). The conference ID for this
event is 23919422. For those unable to participate there will be a replay
available from 1:00 p.m. ET on November 23, 2010, through 11:59 p.m. ET,
November 30, 2010. Please call: (800) 642.1687 (U.S. and Canada) or (706)
645.9291 (International). The ID code for the replay is 23919422.

     The call will be available as a live, listen-only webcast at www.kcsa.com.
Please go to the KCSA website at least 15 minutes prior to the scheduled start
time to register, download and install any necessary audio software. A 30-day
archive of the webcast will be available approximately 2 hours after the
conclusion of the live call.

ABOUT NON - GAAP FINANCIAL MEASURES

     This press release includes non-GAAP financial measures - non-GAAP
operating income and non-GAAP net income - that exclude certain charges. The
presentation of this financial information is not intended to be considered in
isolation or as a substitute for the financial information prepared and
presented in accordance with GAAP. Management of Shamir believes that non-GAAP
operating income and non-GAAP net income provides meaningful supplemental
information because these numbers reflect our core operational results and are
used by management internally to review Shamir's financial results.

ABOUT SHAMIR

     Shamir is a leading provider of innovative products and technology to the
spectacle lens market. Utilizing its proprietary technology, the company
develops, designs, manufactures, and markets progressive lenses to sell to the
ophthalmic market. In addition, Shamir utilizes its technology to provide design
services to optical lens manufacturers under service and royalty agreements.
Progressive lenses are used to treat presbyopia, a vision condition where the
eye loses its ability to focus on close objects. Progressive lenses combine
several optical strengths into a single lens to provide a gradual and seamless
transition from near to intermediate, to distant vision. Shamir differentiates
its products from its competitors' primarily through lens design. Shamir's
leading lenses are marketed under a variety of trade names, including Shamir
Creation(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Autograph(TM),
Shamir Attitude(TM) and Shamir Smart(TM). Shamir believes that it has one of the
world's preeminent research and development teams for progressive lenses, molds,
and complementary technologies and tools. Shamir developed software dedicated to
the design of progressive lenses. This software is based on Shamir's proprietary
mathematical algorithms that optimize designs of progressive lenses for a
variety of activities and environments. Shamir also has created software tools
specifically designed for research and development and production requirements,
including Eye Point Technology software, which simulates human vision.

SHAMIR / PAGE 3

SAFE HARBOR STATEMENT

     Statements concerning Shamir's business outlook or future economic
performance; product introductions and plans and objectives related thereto; and
assumptions made or expectations as to any future events, conditions,
performance or other matters, are "forward-looking statements" as that term is
defined under U.S. federal securities laws. Forward-looking statements are
subject to various risks, uncertainties and other factors that could cause
actual results to differ materially from those stated in such statements. These
risks, uncertainties and factors include, but are not limited to: The conflicts
in the region; the effects of competition in our industry, and changes in our
relationships with optical laboratories, distributors, research and development
partners and other third parties; the effects of the international expansion of
our operations and our ability to manage our growth, including our ability to
manage potential future acquisitions; the effect of global economic conditions
in general and conditions in Shamir's industry and target markets in particular;
shifts in supply and demand; market acceptance of new products and continuing
products' demand; the impact of competitive products and pricing on Shamir's and
its customers' products and markets; timely product and technology
development/upgrades and the ability to manage changes in market conditions as
needed; interest rate fluctuations; and other factors detailed in Shamir's
filings with the Securities and Exchange Commission. Shamir assumes no
obligation to update the information in this release.

                               (TABLES TO FOLLOW)

SHAMIR OPTICAL INDUSTRY LTD.
Consolidated Balance Sheets
(US DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

                                                                          As of December 31,  As of September 30,
                                                                                 2009                 2010
                                                                             ------------         ------------
                                                                                                   (Unaudited)

CURRENT ASSETS:
Cash and cash equivalents                                                    $     19,929         $     20,645
Short-term investment                                                              11,679               17,127
Trade receivables (1)                                                              33,648               35,041
Other receivables and prepaid expenses                                              7,918                7,777
Inventory                                                                          26,946               28,277
                                                                             ------------         ------------
   TOTAL CURRENT ASSETS                                                           100,120              108,867

LONG-TERM INVESTMENTS:
Severance pay fund                                                                  2,909                2,819
Long-term receivables                                                                 427                  386
Investments in affiliates                                                           1,306                1,282
                                                                             ------------         ------------
   TOTAL LONG-TERM INVESTMENTS                                                      4,642                4,487

PROPERTY, PLANT AND EQUIPMENT, NET                                                 38,568               37,627
OTHER ASSETS                                                                        7,439                6,161
GOODWILL                                                                           12,945               13,740
                                                                             ------------         ------------
   TOTAL ASSETS                                                              $    163,714         $    170,882
                                                                             ============         ============

CURRENT LIABILITIES:
Short-term bank credit and loans                                             $     11,033         $      8,985
Current maturities of long-term loans                                               6,879                5,040
Trade payables                                                                     11,680               12,873
Accrued expenses and other liabilities                                             15,447               16,007
                                                                             ------------         ------------
   TOTAL CURRENT LIABILITIES                                                       45,039               42,905

LONG-TERM LIABILITIES:
Long-term loans                                                                    12,599                8,813
Capital leases                                                                      2,367                1,654
Accrued severance pay                                                               3,270                3,246
Other long-term liabilities                                                         2,763                  904
Deferred income taxes                                                               2,224                2,162
                                                                             ------------         ------------
   TOTAL LONG-TERM LIABILITIES                                                     23,223               16,779

Redeemable non-controlling interests                                                  690                2,146
                                                                             ------------         ------------
EQUITY:
Share capital
Common shares of NIS 0.01 par value
Authorized: 100,000,000 shares at December 31, 2009 and September 30,
2010; Issued and outstanding:  16,592,345 and 16,781,096  shares at
December 31, 2009 and September 30, 2010, respectively                                 37                   38
Additional paid-in capital                                                         68,230               70,168
Accumulated other comprehensive income                                             (1,122)              (1,686)
Retained earnings                                                                  24,795               36,791
                                                                             ------------         ------------
   Total Shamir Optical Industry Ltd. Shareholders' equity                         91,940              105,311
Non-controlling interests                                                           2,822                3,741
                                                                             ------------         ------------
   TOTAL  EQUITY                                                                   94,762              109,052
                                                                             ------------         ------------
   TOTAL LIABILITIES AND EQUITY                                              $    163,714         $    170,882
                                                                             ============         ============

(1) Net of allowance for doubtful accounts of $ 3,076 and $ 3,326 as of December
31, 2009 and September 30, 2010, respectively

SHAMIR OPTICAL INDUSTRY LTD.
Consolidated Statements of Income
(US DOLLARS IN THOUSANDS, EXCEPT  PER SHARE DATA)

                                                                Three Months Ended             Nine Months Ended
                                                                    September 30,                September 30,
                                                             ------------------------       -------------------------
                                                                2009           2010            2009           2010
                                                             ---------      ---------       ---------       ---------
                                                            (Unaudited)    (Unaudited)     (Unaudited)     (Unaudited)

Revenues, net                                                $  36,157      $  37,845       $ 105,311       $ 118,918
Cost of revenues                                                16,410         17,075          48,748          53,513
                                                             ---------      ---------       ---------       ---------
Gross profit                                                    19,747         20,770          56,563          65,405

Operating Expenses:
                Research and development costs                     802          1,098           2,332           3,245
                Selling and marketing expenses                  10,274         10,724          30,422          32,701
                General and administrative expenses              3,828          4,445          11,023          13,051
                                                             ---------      ---------       ---------       ---------
Total operating expenses                                        14,904         16,267          43,777          48,997
                                                             ---------      ---------       ---------       ---------
Operating income                                                 4,843          4,503          12,786          16,408

Financial expenses (income) and other, net                         335           (851)            237             166
                                                             ---------      ---------       ---------       ---------
Income before taxes on income                                    4,508          5,354          12,549          16,242
Taxes on income                                                    826          1,071           2,877           3,581
                                                             ---------      ---------       ---------       ---------
Income after taxes on income                                     3,682          4,283           9,672          12,661

Equity in  losses (earnings) of affiliates, net                     13             28             (48)             55
Accretion of redeemable non controlling interest                     -            (92)              -               3
                                                             ---------      ---------       ---------       ---------
Net income                                                       3,669          4,347           9,720          12,603

Net income attributable to non-controlling interests                43            196             276             607
                                                             ---------      ---------       ---------       ---------
Net income attributable to Shamir Optical Industry Ltd.
Shareholders                                                 $   3,626      $   4,151       $   9,444       $  11,996
                                                             =========      =========       =========       =========

Net earnings per share:
                Basic                                        $    0.22      $    0.25       $    0.58       $    0.72
                                                             =========      =========       =========       =========
                Diluted                                      $    0.22      $    0.25       $    0.57       $    0.71
                                                             =========      =========       =========       =========

Number of shares:
                Basic                                           16,424         16,779          16,424          16,745
                Dilutive                                        16,546         16,878          16,499          16,833

SHAMIR OPTICAL INDUSTRY LTD.
Reconciliation of Non-GAAP Operating Income and  Net Income
(US DOLLARS IN THOUSANDS, EXCEPT  PER SHARE DATA)

                                                                 Three Months Ended              Nine Months Ended
                                                                     September 30,                  September 30,
                                                              -------------------------       -------------------------
                                                                2009            2010            2009            2010
                                                              ---------       ---------       ---------       ---------
                                                             (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)

Operating income                                              $   4,843       $   4,503       $  12,786       $  16,408

Non-GAAP adjustment:
     Stock based compensation                                       (60)           (138)           (372)           (427)
     Amortization of intangible assets                             (272)           (361)           (761)         (1,077)
     Essilor transaction costs                                        -            (480)              -            (843)
     Compensation to former Chief Executive Officer                   -               -            (303)              -
                                                              ---------       ---------       ---------       ---------
Non-GAAP operating income                                     $   5,175       $   5,482       $  14,222       $  18,755
                                                              =========       =========       =========       =========

Net income attributable to Shamir Optical Industry Ltd.
Shareholders                                                  $   3,626       $   4,151       $   9,444       $  11,996

Non-GAAP adjustment:
     Stock based compensation                                       (60)           (138)           (372)           (427)
     Amortization of intangible assets, net                        (207)           (268)           (579)           (799)
     Essilor transaction costs, net                                   -            (360)              -            (632)
     Accretion of redeemable non controlling interest                 -              92               -              (3)
     Compensation to former Chief Executive Officer, net              -               -            (227)              -
                                                              ---------       ---------       ---------       ---------
Non-GAAP net income attributable to Shamir Optical
Industry Ltd. Shareholders                                    $   3,893       $   4,825       $  10,622       $  13,857
                                                              =========       =========       =========       =========

Net earnings per share:
     Basic                                                    $    0.24       $    0.29       $    0.65       $    0.83
                                                              =========       =========       =========       =========
     Diluted                                                  $    0.24       $    0.29       $    0.64       $    0.82
                                                              =========       =========       =========       =========

Number of shares:
     Basic                                                       16,424          16,779          16,424          16,745
     Dilutive                                                    16,546          16,878          16,499          16,833

EX-99

                                                                    EXHIBIT 99.2

Investor Relations Contacts:
Roni Gavrielov                           Jeffrey Goldberger/Marybeth Csaby
KM / KCSA Investor Relations             KCSA Strategic Communications
+972-3-516-7620                          212-896-1249/212-896-1236
roni@km-ir.co.il                         jgoldberger@kcsa.com / mcsaby@kcsa.com

                          SHAMIR OPTICAL INDUSTRY LTD.
                        REPORTS THIRD QUATER 2010 RESULTS

                    NET INCOME INCREASED 18.5% YEAR-OVER-YEAR

     KIBBUTZ SHAMIR, ISRAEL, NOVEMBER 23, 2010 - Shamir Optical Industry Ltd.
(Nasdaq: SHMR) ("SHAMIR"), a leading provider of innovative products and
technology to the ophthalmic lens market, today announced unaudited financial
results for the third quarter ended September 30, 2010.

     For the quarter ended September 30, 2010, revenues increased 4.7% to $37.8
million, compared with revenues of $36.2 million for the same period in 2009.
Gross profit for the quarter was $20.8 million, or 54.9% of revenues, compared
with gross profit of $19.7 million, or 54.6% of revenues for the same period
last year.

     For the quarter ended September 30, 2010, operating income decreased 7.0%
to $4.5 million, or 11.9% of revenues, compared with operating income of $4.8
million, or 13.4% of revenues for the same period last year. The reduction in
operating income year-over-year was primarily the result of increased research
and development costs and elevated general and administrative costs associated
with the Company's recently announced transaction with Essilor International.

     Net income for the quarter increased 18.5% to $4.3 million, compared with
net income of $3.7 million for the same period in 2009. Net income attributable
to Shamir's shareholders was $4.2 million or $0.25 per diluted share, compared
with $3.6 million or $0.22 per diluted share for the same period in 2009.

     As of September 30, 2010, the Company had cash and cash equivalents,
including short-term investments of $37.8 million. As was previously announced,
the Company declared a dividend in the amount of $13.5 million (approximately
$0.804 per share) to be paid on November 24, 2010.

     Commenting on the results, Amos Netzer, Chief Executive Officer of Shamir,
said, "I am pleased with our results for the third quarter of 2010 We executed
solidly and continued to make important inroads in many of our operating
markets, with the goal of advancing the recognition for Shamir-branded products.
Concurrent with these efforts, we continue to stress the importance of strict
cost controls, which has always been a major component of our operating
philosophy."

SHAMIR / PAGE 2

     Mr. Netzer continued, "To support our long range goals of expanding our
worldwide sales, we recently executed an agreement with a local distributor of
our products in the Netherlands. We are confident in our ability to penetrate
and expend our holdings in this market and to promote the Shamir brand in the
Benelux region."

     For the fiscal year ending December 31, 2010, Shamir confirmed its estimate
for 2010 revenue growth to be in the range of 11%-15%, under the assumption of
December 2009 exchange rates.

CONFERENCE CALL:

     Shamir has scheduled a conference call for 10:00 a.m. ET today to discuss
third quarter results. To participate in the call, please dial (888) 562.3356
(U.S. and Canada) or (973) 582.2700 (International). The conference ID for this
event is 23919422. For those unable to participate there will be a replay
available from 1:00 p.m. ET on November 23, 2010, through 11:59 p.m. ET,
November 30, 2010. Please call: (800) 642.1687 (U.S. and Canada) or (706)
645.9291 (International). The ID code for the replay is 23919422.

     The call will be available as a live, listen-only webcast at www.kcsa.com.
Please go to the KCSA website at least 15 minutes prior to the scheduled start
time to register, download and install any necessary audio software. A 30-day
archive of the webcast will be available approximately 2 hours after the
conclusion of the live call.

ABOUT SHAMIR

     Shamir is a leading provider of innovative products and technology to the
spectacle lens market. Utilizing its proprietary technology, the company
develops, designs, manufactures, and markets progressive lenses to sell to the
ophthalmic market. In addition, Shamir utilizes its technology to provide design
services to optical lens manufacturers under service and royalty agreements.
Progressive lenses are used to treat presbyopia, a vision condition where the
eye loses its ability to focus on close objects. Progressive lenses combine
several optical strengths into a single lens to provide a gradual and seamless
transition from near to intermediate, to distant vision. Shamir differentiates
its products from its competitors' primarily through lens design. Shamir's
leading lenses are marketed under a variety of trade names, including Shamir
Creation(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Autograph(TM),
Shamir Attitude(TM) and Shamir Smart(TM). Shamir believes that it has one of the
world's preeminent research and development teams for progressive lenses, molds,
and complementary technologies and tools. Shamir developed software dedicated to
the design of progressive lenses. This software is based on Shamir's proprietary
mathematical algorithms that optimize designs of progressive lenses for a
variety of activities and environments. Shamir also has created software tools
specifically designed for research and development and production requirements,
including Eye Point Technology software, which simulates human vision.

SHAMIR / PAGE 3

SAFE HARBOR STATEMENT

     Statements concerning Shamir's business outlook or future economic
performance; product introductions and plans and objectives related thereto; and
assumptions made or expectations as to any future events, conditions,
performance or other matters, are "forward-looking statements" as that term is
defined under U.S. federal securities laws. Forward-looking statements are
subject to various risks, uncertainties and other factors that could cause
actual results to differ materially from those stated in such statements. These
risks, uncertainties and factors include, but are not limited to: The conflicts
in the region; the effects of competition in our industry, and changes in our
relationships with optical laboratories, distributors, research and development
partners and other third parties; the effects of the international expansion of
our operations and our ability to manage our growth, including our ability to
manage potential future acquisitions; the effect of global economic conditions
in general and conditions in Shamir's industry and target markets in particular;
shifts in supply and demand; market acceptance of new products and continuing
products' demand; the impact of competitive products and pricing on Shamir's and
its customers' products and markets; timely product and technology
development/upgrades and the ability to manage changes in market conditions as
needed; interest rate fluctuations; and other factors detailed in Shamir's
filings with the Securities and Exchange Commission. Shamir assumes no
obligation to update the information in this release.

                               (TABLES TO FOLLOW)

SHAMIR OPTICAL INDUSTRY LTD.
Consolidated Balance Sheets
(US DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

                                                                          As of December 31,  As of September 30,
                                                                                 2009                 2010
                                                                             ------------         ------------
                                                                                                   (Unaudited)

CURRENT ASSETS:
Cash and cash equivalents                                                    $     19,929         $     20,645
Short-term investment                                                              11,679               17,127
Trade receivables (1)                                                              33,648               35,041
Other receivables and prepaid expenses                                              7,918                7,777
Inventory                                                                          26,946               28,277
                                                                             ------------         ------------
   TOTAL CURRENT ASSETS                                                           100,120              108,867

LONG-TERM INVESTMENTS:
Severance pay fund                                                                  2,909                2,819
Long-term receivables                                                                 427                  386
Investments in affiliates                                                           1,306                1,282
                                                                             ------------         ------------
   TOTAL LONG-TERM INVESTMENTS                                                      4,642                4,487

PROPERTY, PLANT AND EQUIPMENT, NET                                                 38,568               37,627
OTHER ASSETS                                                                        7,439                6,161
GOODWILL                                                                           12,945               13,740
                                                                             ------------         ------------
   TOTAL ASSETS                                                              $    163,714         $    170,882
                                                                             ============         ============

CURRENT LIABILITIES:
Short-term bank credit and loans                                             $     11,033         $      8,985
Current maturities of long-term loans                                               6,879                5,040
Trade payables                                                                     11,680               12,873
Accrued expenses and other liabilities                                             15,447               16,007
                                                                             ------------         ------------
   TOTAL CURRENT LIABILITIES                                                       45,039               42,905

LONG-TERM LIABILITIES:
Long-term loans                                                                    12,599                8,813
Capital leases                                                                      2,367                1,654
Accrued severance pay                                                               3,270                3,246
Other long-term liabilities                                                         2,763                  904
Deferred income taxes                                                               2,224                2,162
                                                                             ------------         ------------
   TOTAL LONG-TERM LIABILITIES                                                     23,223               16,779

Redeemable non-controlling interests                                                  690                2,146
                                                                             ------------         ------------
EQUITY:
Share capital
Common shares of NIS 0.01 par value
Authorized: 100,000,000 shares at December 31, 2009 and September 30,
2010; Issued and outstanding:  16,592,345 and 16,781,096  shares at
December 31, 2009 and September 30, 2010, respectively                                 37                   38
Additional paid-in capital                                                         68,230               70,168
Accumulated other comprehensive income                                             (1,122)              (1,686)
Retained earnings                                                                  24,795               36,791
                                                                             ------------         ------------
   Total Shamir Optical Industry Ltd. Shareholders' equity                         91,940              105,311
Non-controlling interests                                                           2,822                3,741
                                                                             ------------         ------------
   TOTAL  EQUITY                                                                   94,762              109,052
                                                                             ------------         ------------
   TOTAL LIABILITIES AND EQUITY                                              $    163,714         $    170,882
                                                                             ============         ============

(1) Net of allowance for doubtful accounts of $ 3,076 and $ 3,326 as of December
31, 2009 and September 30, 2010, respectively

SHAMIR OPTICAL INDUSTRY LTD.
Consolidated Statements of Income
(US DOLLARS IN THOUSANDS, EXCEPT  PER SHARE DATA)

                                                                Three Months Ended             Nine Months Ended
                                                                    September 30,                September 30,
                                                             ------------------------       -------------------------
                                                                2009           2010            2009           2010
                                                             ---------      ---------       ---------       ---------
                                                            (Unaudited)    (Unaudited)     (Unaudited)     (Unaudited)

Revenues, net                                                $  36,157      $  37,845       $ 105,311       $ 118,918
Cost of revenues                                                16,410         17,075          48,748          53,513
                                                             ---------      ---------       ---------       ---------
Gross profit                                                    19,747         20,770          56,563          65,405

Operating Expenses:
                Research and development costs                     802          1,098           2,332           3,245
                Selling and marketing expenses                  10,274         10,724          30,422          32,701
                General and administrative expenses              3,828          4,445          11,023          13,051
                                                             ---------      ---------       ---------       ---------
Total operating expenses                                        14,904         16,267          43,777          48,997
                                                             ---------      ---------       ---------       ---------
Operating income                                                 4,843          4,503          12,786          16,408

Financial expenses (income) and other, net                         335           (851)            237             166
                                                             ---------      ---------       ---------       ---------
Income before taxes on income                                    4,508          5,354          12,549          16,242
Taxes on income                                                    826          1,071           2,877           3,581
                                                             ---------      ---------       ---------       ---------
Income after taxes on income                                     3,682          4,283           9,672          12,661

Equity in  losses (earnings) of affiliates, net                     13             28             (48)             55
Accretion of redeemable non controlling interest                     -            (92)              -               3
                                                             ---------      ---------       ---------       ---------
Net income                                                       3,669          4,347           9,720          12,603

Net income attributable to non-controlling interests                43            196             276             607
                                                             ---------      ---------       ---------       ---------
Net income attributable to Shamir Optical Industry Ltd.
Shareholders                                                 $   3,626      $   4,151       $   9,444       $  11,996
                                                             =========      =========       =========       =========

Net earnings per share:
                Basic                                        $    0.22      $    0.25       $    0.58       $    0.72
                                                             =========      =========       =========       =========
                Diluted                                      $    0.22      $    0.25       $    0.57       $    0.71
                                                             =========      =========       =========       =========

Number of shares:
                Basic                                           16,424         16,779          16,424          16,745
                Dilutive                                        16,546         16,878          16,499          16,833