USA: Oakley Projects Sales Increases Of 40 Per Cent
These results would represent increases of approximately 40 per cent compared with net sales of $70.8m and earnings of $0.15 per diluted share reported in the same period last year. The company expects to report final third quarter results on October 18, 2000.
In advance of today's presentation at the First Security Van Kasper Class of 2000 investment conference being held in San Francisco, Oakley's COO, Link Newcomb, said: "Sales trends through August in the US and around the world, coupled with continued strength in the company's order backlog, reflect the strength of the Oakley brand and the increasing breadth of our product line."
"Our expanded fall 2000 footwear line continues to experience positive sell-through at key retailers around the world," continued Newcomb. "After achieving profitability for the first time in June, we expect the third quarter to be our first full quarter of footwear profitability since our entry into this category two years ago."
About Oakley Inc
Building on its legacy of premium sunglasses, the company also offers an expanding line of performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 70 countries. Trailing 12 month revenues through June 30, 2000 totaled $300.2m and generated net income of $40m - a 13 per cent net margin, excluding a one-time restructuring charge of $8.2m recorded during the fourth quarter of 1999. Oakley Inc press releases, SEC filings and the company's annual report are available at the company's website at www.oakley.com.
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