Positive third quarter for Oakley

Oakley has announced that net sales increased 15.6 percent, net income grew 31.6 percent and earnings per share increased 29.4 percent in its third quarter ended September 30, 2005 compared to the same period in 2004.

Net sales grew to a quarterly record $173.4 million compared with $150.0 million in the third quarter of 2004. Net income for the third quarter totaled $15.0 million, or $0.22 per diluted share, compared with net income of $11.4 million, or $0.17 per diluted share, earned in the third quarter of 2004.

'Our strong third quarter results were fueled by the new Crosshair, Gascan and Bottlecap sunglass styles which generated significantly greater sales than last year's new introductions. During the quarter we also successfully launched Razrwire, the second product in our innovative electronics family,' said Link Newcomb, Oakley Chief Operating Officer. 'We enter the final quarter of the year poised for the holiday introduction of Thump 2, an appealing new style complementary to Thump with greater memory and an attractive price point. Additionally, as a result of the strategic initiative to release our new sunglass products to the market earlier, we expect to introduce select 2006 styles in limited quantities beginning in November this year'.