Eyewear and apparel producer Oakley Inc on Wednesday posted a sharp fall in fourth quarter profit to $487,000 from $3.3 million in the year-ago period amid a major restructuring charge but higher sales. The California-based company said its earnings were hit by a $1.8m European restructuring charge but added sales rose 14.1 per cent year-on-year to $102.9m thanks to its international operations and new retail stores.