Oakley Inc has revealed that it expects to report record gross sales for its new product initiatives totalling around $20.2m for its fourth quarter ending December 31, 2000.

The reported $20.2m gross sales on footwear, apparel, watches and eyewear, will represent a 150 per cent increase compared to the $8.1m recorded in the same period last year.

In a presentation at the Goldman Sachs Financial Day conference being held today, chief operating officer Link Newcomb and chief financial officer Tom George will highlight Oakley's successful product diversification strategy and ongoing new product introductions

The company has also revealed that it is expecting to beat current analyst sales estimates and consensus earnings estimates of $0.11 for the quarter, representing an increase of at least 50 per cent over net earnings of $0.08 per diluted share, excluding a one-time, after-tax restructuring charge of $8.2m, reported for the same period in 1999.