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| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------|

| California(State or Other Jurisdiction ofIncorporation or Organization) | 95-3876317(I.R.S. EmployerIdentification No.) |
|-------------------------------------------------------------------------|-----------------------------------------------|

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| Large Accelerated Filer   o                                            | Accelerated Filer    ̈    |
|----------------------------------------------------------------------------------|-----------------------------------------|
| Non-accelerated Filer   o(Do not check if a smaller reporting company) | Smaller reporting company   x |

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| PART I  | FINANCIAL INFORMATION                                                                       | Page   |
|---------|---------------------------------------------------------------------------------------------|--------|
|    |                                                                                        |   |
| Item 1  | Financial Statements                                                                        | 3      |
|    |                                                                                        |   |
|    | Balance Sheets                                                                              | 3      |
|    |                                                                                        |   |
|    | Statements of Income                                                                        | 5      |
|    |                                                                                        |   |
|    | Statements of Cash Flows                                                                    | 6      |
|    |                                                                                        |   |
|    | Notes to the Financial Statements                                                           | 7      |
|    |                                                                                        |   |
| Item 2  | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 9      |
|    |                                                                                        |   |
| Item 3  | Quantitative and Qualitative Disclosures About Market Risk                                  | 11     |
|    |                                                                                        |   |
| Item 4  | Controls and Procedures                                                                     | 11     |
|    |                                                                                        |   |
| PART II | OTHER INFORMATION                                                                           | 12     |
|    |                                                                                        |   |
| Item 1  | Legal Proceedings                                                                           | 12     |
|    |                                                                                        |   |
| Item 1A | Risk Factors                                                                                | 12     |
|    |                                                                                        |   |
| Item 2  | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 12     |
|    |                                                                                        |   |
| Item 3  | Defaults upon Senior Securities                                                             | 12     |
|    |                                                                                        |   |
| Item 4  | Removed and Reserved                                                                        | 12     |
|    |                                                                                        |   |
| Item 5  | Other Information                                                                           | 12     |
|    |                                                                                        |   |
| Item 6  | Exhibits                                                                                    | 12     |

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|                                                                           |   |        |       |   |        |   |
|--------------------------------------------------------------------------------|--------|-------------|------------|--------|-------------|--------|
|                                                                           |   |        |       |   |        |   |
| ASSETS                                                                         |   |
|                                                                           |   |        |       |   |        |   |
|                                                                           |   | January 31, |       |   | October 31, |   |
|                                                                           |   | 2011        |       |   | 2010        |   |
| Current assets                                                                 |   |        |       |   |        |   |
|                                                                           |   |        |       |   |        |   |
| Cash and cash equivalents                                                      |   | $           | 387,462    |   |        | $      | 429,824 |   |
| Accounts receivable - trade, net of allowance for doubtful accounts of $42,163 |   |        | 2,616,393  |   |        |   | 2,503,331 |   |
| Inventory                                                                      |   |        | 3,864,303  |   |        |   | 3,943,377 |   |
| Promotional products and materials                                             |   |        | 158,263    |   |        |   | 171,185 |   |
| Prepaid expenses and other current assets                                      |   |        | 410,422    |   |        |   | 290,230 |   |
| Deferred income taxes                                                          |   |        | 376,500    |   |        |   | 376,500 |   |
|                                                                           |   |        |       |   |        |   |   |   |
| Total current assets                                                           |   |        | 7,813,343  |   |        |   | 7,714,447 |   |
|                                                                           |   |        |       |   |        |   |   |   |
| Property and equipment, net                                                    |   |        | 228,652    |   |        |   | 261,096 |   |
| Deposits and other assets                                                      |   |        | 291,861    |   |        |   | 121,304 |   |
| Deferred income taxes                                                          |   |        | 2,600,700  |   |        |   | 2,600,700 |   |
|                                                                           |   |        |       |   |        |   |   |   |
| Total assets                                                                   |   | $           | 10,934,556 |   |        | $      | 10,697,547 |   |

----

|                                                                                                                                                                           |   |        |        |   |        |   |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|-------------|--------|-------------|--------|-------------|
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                     |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
|                                                                                                                                                                           |   | January 31, |        |   | October 31, |   |
|                                                                                                                                                                           |   |  2011  |        |   |  2010  |   |
| Current liabilities                                                                                                                                                            |   |        |        |   |        |   |        |   |
| Accounts payable - trade                                                                                                                                                       |   | $           | 4,291,306   |   |        | $      | 4,213,364   |   |
| Accrued expenses and other current liabilities                                                                                                                                 |   |        | 326,086     |   |        |   | 447,851     |   |
| Current portion of long-term debt                                                                                                                                              |   |        | 290,000     |   |        |   | 290,000     |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| Total current liabilities                                                                                                                                                      |   |        | 4,907,392   |   |        |   | 4,951,215   |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| Long-term debt, net of current portion                                                                                                                                         |   |        | 3,914,000   |   |        |   | 3,720,360   |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| Total liabilities                                                                                                                                                              |   |        | 8,821,392   |   |        |   | 8,671,575   |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| Commitments and contingencies                                                                                                                                                  |   |        |        |   |        |   |        |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| Shareholders’ equity                                                                                                                                                     |   |        |        |   |        |   |        |   |
| Preferred stock, $0.001 par value                                                                                                                                              |   |        |        |   |        |   |        |   |
| 5,000,000 shares authorized                                                                                                                                                    |   |        |        |   |        |   |        |   |
| Series A 2% convertible preferred stock, $0.001 par value; liquidation preference (approximately $938,000 and $933,000 at January 31, 2011 and October 31, 2010, respectively) |   |        |
| 1,360,000 shares authorized                                                                                                                                                    |   |        |        |   |        |   |        |   |
| 1,200,000 issued and outstanding                                                                                                                                               |   |        | 1,200       |   |        |   | 1,200       |   |
| Common stock, $0.001 par value: 30,000,000 shares authorized, 6,955,639 shares issued and outstanding                                                                          |   |        | 6,956       |   |        |   | 6,956       |   |
| Additional paid-in capital                                                                                                                                                     |   |        | 15,656,812  |   |        |   | 15,656,812  |   |
| Accumulated deficit                                                                                                                                                            |   |        | (13,551,804 | )      |        |   | (13,638,996 | ) |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
| Total shareholders’ equity                                                                                                                                               |   |        | 2,113,164   |   |        |   | 2,025,972   |   |
|                                                                                                                                                                           |   |        |        |   |        |   |        |   |
|  Total liabilities and shareholders’ equity                                                                                                                         |   | $           | 10,934,556  |   |        | $      | 10,697,547  |   |

----

|                                        |   |   |      |   |   |   |
|---------------------------------------------|--------|--------|-----------|--------|--------|--------|
|                                        |   |   |      |   |   |   |
|                                        |   |   |      |   |   |   |
|                                        |   | 2011   |      |   | 2010   |   |
|                                        |   |   |      |   |   |   |
| Net sales                                   |   | $      | 4,734,635 |   |   | $      | 5,168,880 |   |
| Cost of sales                               |   |   | 1,927,748 |   |   |   | 1,920,797 |   |
|                                        |   |   |      |   |   |   |   |   |
| Gross profit                                |   |   | 2,806,887 |   |   |   | 3,248,083 |   |
|                                        |   |   |      |   |   |   |   |   |
| Operating expenses                          |   |   |      |   |   |   |   |   |
| Selling                                     |   |   | 1,513,177 |   |   |   | 1,905,636 |   |
| General and administrative                  |   |   | 1,115,194 |   |   |   | 1,108,591 |   |
| Depreciation and amortization               |   |   | 55,426    |   |   |   | 44,929 |   |
| Total operating expenses                    |   |   | 2,683,797 |   |   |   | 3,059,156 |   |
|                                        |   |   |      |   |   |   |   |   |
| Income from operations                      |   |   | 123,090   |   |   |   | 188,927 |   |
|                                        |   |   |      |   |   |   |   |   |
| Interest expense                            |   |   | (34,093   | )      |   |   | (45,835 | ) |
|                                        |   |   |      |   |   |   |   |   |
| Income before taxes                         |   |   | 88,997    |   |   |   | 143,092 |   |
| Income taxes                                |   |   | 1,805     |   |   |   | 435 |   |
|                                        |   |   |      |   |   |   |   |   |
| Net income                                  |   |   | 87,192    |   |   |   | 142,657 |   |
| Preferred stock dividend                    |   | $      | (4,646    | )      |   | $      | (4,554 | ) |
| Net income available to common shareholders |   | $      | 82,546    |   |   | $      | 138,103 |   |
| Basic earnings per share                    |   | $      | 0.01      |   |   | $      | 0.02 |   |
|                                        |   |   |      |   |   |   |   |   |
| Diluted earnings per share                  |   | $      | 0.01      |   |   | $      | 0.02 |   |
|                                        |   |   |      |   |   |   |   |   |
| Weighted-average common shares              |   |   |      |   |   |   |   |   |
| outstanding - Basic                         |   |   | 6,955,639 |   |   |   | 6,955,639 |   |
|                                        |   |   |      |   |   |   |   |   |
| Weighted-average common shares              |   |   |      |   |   |   |   |   |
| outstanding - Diluted                       |   |   | 8,355,289 |   |   |   | 8,327,761 |   |

----

|                                                                          |   |   |     |   |   |   |
|-------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
|                                                                          |   |   |     |   |   |   |
|                                                                          |   | 2011   |     |   | 2010   |   |
|                                                                          |   |   |     |   |   |   |
| Cash flows from operating activities                                          |   |   |     |   |   |   |
| Net income                                                                    |   | $      | 87,192   |   |   | $      | 142,657 |   |
| Adjustments to reconcile net income to net cash used in operating activities: |   |   |     |   |   |   |   |   |
| Depreciation and amortization                                                 |   |   | 55,426   |   |   |   | 44,929 |   |
| (Increase) decrease in:                                                       |   |   |     |   |   |   |   |   |
| Accounts receivable - trade                                                   |   |   | (113,063 | )      |   |   | (223,765 | ) |
| Inventories                                                                   |   |   | 79,072   |   |   |   | 2,575 |   |
| Promotional products and materials                                            |   |   | 12,922   |   |   |   | 29,705 |   |
| Prepaid expenses and other current assets                                     |   |   | (120,192 | )      |   |   | (81,839 | ) |
| Increase (decrease) in:                                                       |   |   |     |   |   |   |   |   |
| Accounts payable - trade                                                      |   |   | 77,942   |   |   |   | 26,539 |   |
| Accrued expenses and other current liabilities                                |   |   | (105,625 | )      |   |   | (87,343 | ) |
|                                                                          |   |   |     |   |   |   | . |   |
| Net cash used in operating activities                                         |   |   | (26,326  | )      |   |   | (146,542 | ) |
|                                                                          |   |   |     |   |   |   |   |   |
| Cash flows from investing activities                                          |   |   |     |   |   |   |   |   |
| Purchase of property and equipment                                            |   |   | (22,197  | )      |   |   | (59,833 | ) |
| Deposits and other assets                                                     |   |   | (171,339 | )      |   |   | 146,500 |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Net cash (used in) provided by investing activities                           |   |   | (193,536 | )      |   |   | 86,667 |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Cash flows from financing activities                                          |   |   |     |   |   |   |   |   |
| Net increase in line of credit                                                |   |   | 250,000  |   |   |   | 100,000 |   |
| Payments on long-term debt                                                    |   |   | (72,500  | )      |   |   | (72,500 | ) |
| Net cash provided by financing activities                                     |   |   | 177,500  |   |   |   | 27,500 |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                     |   |   | (42,362  | )      |   |   | (32,375 | ) |
|                                                                          |   |   |     |   |   |   |   |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Cash and cash equivalents, beginning of period                                |   |   | 429,824  |   |   |   | 431,037 |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Cash and cash equivalents, end of period                                      |   | $      | 387,462  |   |   | $      | 398,662 |   |
|                                                                          |   |   |     |   |   |   |   |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Supplemental disclosures of cash                                              |   |   |     |   |   |   |   |   |
| flow information                                                              |   |   |     |   |   |   |   |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Interest paid                                                                 |   | $      | 17,357   |   |   | $      | 23,542 |   |
|                                                                          |   |   |     |   |   |   |   |   |
| Income taxes paid                                                             |   | $      | 1,805    |   |   | $      | 435 |   |

----

| Note 1.   | Organization and Line of Business |
|---------------------|-----------------------------------|

| Note 2.   | Summary of Significant Accounting Policies |
|---------------------|--------------------------------------------|

| Office furniture and equipment | 7 years                                                                                   |
|--------------------------------|-------------------------------------------------------------------------------------------|
| Computer equipment             | 3 years                                                                                   |
| Software                       | 3 years                                                                                   |
| Machinery and equipment        | 5 years                                                                                   |
| Leasehold improvements         | Term of the lease or the estimated life of the related improvements, whichever is shorter |

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| Three months ended January 31, 2011 |   | Income(Numerator) |   | Shares(Denominator) |      | Per ShareAmount |   |
|-------------------------------------|--------|-------------------|--------|---------------------|-----------|-----------------|--------|
| Basic earnings per share            |   | $                 | 82,546 |                | 6,955,639 |            | $      | 0.01 |   |
| Conversion of preferred stock       |   |              | 4,646  |                | 1,399,650 |            |   | 0.00 |   |
| Diluted earnings per share          |   | $                 | 87,192 |                | 8,355,289 |            | $      | 0.01 |   |

| Three months ended January 31, 2010 |   | Income(Numerator) |    |   | Shares(Denominator) |   |      | Per ShareAmount |   |
|-------------------------------------|--------|-------------------|---------|--------|---------------------|--------|-----------|-----------------|--------|
| Basic earnings per share            |   | $                 | 138,103 |   |                |   | 6,955,639 |            |   | $ | 0.02 |   |
| Conversion of preferred stock       |   |              | 4,554   |   |                |   | 1,372,122 |            |   |   | 0.00 |   |
| Diluted earnings per share          |   | $                 | 142,657 |   |                |   | 8,327,761 |            |   | $ | 0.02 |   |

|     |   | 2011   |    |   | 2010   |   |
|----------|--------|--------|---------|--------|--------|--------|
|     |   |   |    |   |   |   |
| Warrants |   |   | — |   |   |   | 300,000 |   |

| Note 3.   | Long-Term Debt |
|---------------------|----------------|

|                                          |   | January 31,2011 |      |   | October 31,2010 |   |
|-----------------------------------------------|--------|-----------------|-----------|--------|-----------------|--------|
| Revolving line of credit from Comerica Bank   |   | $               | 2,100,000 |   |            | $      | 1,850,000 |   |
| Credit facility from Bluebird Finance Limited |   |            | 2,104,000 |   |            |   | 2,160,360 |   |
|                                          |   |            | 4,204,000 |   |            |   | 4,010,360 |   |
| Less current portion                          |   |            | (290,000  | )      |            |   | (290,000 | ) |
| Long-term portion                             |   | $               | 3,914,000 |   |            | $      |       3,720,360 |   |

| Note 4.   | Income Taxes |
|---------------------|--------------|

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| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

----

|                          |   | Three Months Ended |   |
|-------------------------------|--------|--------------------|--------|
|                          |   | January 31,        |   |
|                          |   | 2011               |   |   | 2010 |   |
| Net sales                     |   |               | 100.0  | % |   |   | 100.0 | % |
| Cost of sales                 |   |               | 40.7   |   |   |   | 37.2 |   |
| Gross profit                  |   |               | 59.3   |   |   |   | 62.8 |   |
| Operating expenses:           |   |               |   |   |   |   |   |   |
| Selling                       |   |               | 32.0   |   |   |   | 36.8 |   |
| General and administrative    |   |               | 23.5   |   |   |   | 21.4 |   |
| Depreciation and amortization |   |               | 1.2    |   |   |   | 0.9 |   |
| Total operating expenses      |   |               | 56.7   |   |   |   | 59.1 |   |
| Income from operations        |   |               | 2.6    |   |   |   | 3.7 |   |
| Interest expense              |   |               | 0.7    |   |   |   | 0.9 |   |
| Income before taxes           |   |               | 1.9    |   |   |   | 2.8 |   |
| Income taxes                  |   |               | 0.0    |   |   |   | 0.0 |   |
| Net income                    |   |               | 1.9    | % |   |   | 2.8 | % |

----

| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk |
|---------------|------------------------------------------------------------|

| Item 4.  | Controls and Procedures |
|---------------|-------------------------|

----

| Item 1. | Legal Proceedings |
|---------|-------------------|

| Item 1A. | Risk Factors |
|----------|--------------|

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|---------|-------------------------------------------------------------|

| Item 3. | Defaults upon Senior Securities |
|---------|---------------------------------|

| Item 4. | (Removed and Reserved) |
|---------|------------------------|

| Item 5. | Other Information |
|---------|-------------------|

| Item 6. | Exhibits |
|---------|----------|

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| Date: March 11, 2011 | SIGNATURE EYEWEAR, INC.  By:  /s/ Michael Prince Michael PrinceChief Executive OfficerChief Financial Officer |
|----------------------|------------------------------------------------------------------------------------------------------------------------------|

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| ExhibitNumber |   | Exhibit Description                                                                                                       |
|---------------|--------|---------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                      |
| 10.1          |   | Amendment No. 2 dated December 13, 2009 to Loan and Security Agreement between Signature Eyewear, Inc. and Comerica Bank. |
|          |   |                                                                                                                      |
| 31.1          |   | Certification Pursuant to SEC Rule 13a-14(a)/15d-14(a)                                                                    |
|          |   |                                                                                                                      |
| 32.1          |   | Certification Pursuant to 18 U.S.C. § 1350                                                                      |

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