Oakley reports record fourth quarter sales and earnings

Oakley has announced results of its fourth quarter and full year ended December 31, 2004.

Fourth quarter net sales increased 24.5 percent to $153.0 million, compared with $122.9 million in the fourth quarter of 2003. Net income for the fourth quarter totaled $10.0 million, a 213 percent increase compared with $3.2 million, in last year's fourth quarter.

Fourth quarter newer category gross sales grew 55.6 percent to $60.2 million and included $19.8 million from sales of Oakley Thump. Fourth quarter U.S. net sales through Oakley-owned retail locations grew 34.2 percent to $21.1 million, accelerated by strong initial sales of Oakley Thump.

Full year 2004 net sales reached a record $585.5 million, up 10.9 percent from $528.0 million in 2003. Net income increased 8.9 percent to $41.6 million, compared to $38.2 million, in the prior year.