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OAKLEY SEES IMPROVED GROWTH; WILL NEW SHOES KICK-UP PROFITS?
Published April 24, 1998
Oakley announced improved financial results for its 1Q, ended March 31. Net income for the period grew 138% to $1.3M, or $0.02 a share, compared with net income of $0.6M, or $0.01 a share, for the comparable period in '97. Net sales for the 1Q were $41M, up 19% over net sales of $34.4M posted for the '97 1Q. Domestic net sales increased 37% to $24.1M, due largely to increased sales to Sunglass Hut, Oakley's largest customer. Int'l net sales for the period were $16.9M, compared with $16.8M in 1Q '97 (Oakley). Oakley unveils "its highly anticipated athletic shoe, whose design has been a tightly guarded secret," on May 12 (Greg Hardesty, ORANGE COUNTY REGISTER, 4/23).