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Finance

OAKLEY NAMES NEW PRESIDENT, REPORTS REVENUE INCREASE

          CA-based Oakley has named a new President and reported
     an increase in fourth-quarter earnings, according to Kirsten
     Searer of the ORANGE COUNTY REGISTER.  Oakley promoted Colin
     Baden from VP/Design to President and said he will be in
     charge of advertising, product design and development. 
     Baden, who has been with Oakley since '96, will also be
     responsible for promoting the new lines of eyewear and
     watches.  Jim Jannard, who had previously held the positions
     of both Chair & President, will remain Chair.  The company
     also reported that fourth-quarter earnings were up 1% from a
     year ago, to $3.4M, on net sales of $53.6M, due to a "steady
     increase" in eyewear and international sales.  However,
     customers "have been less eager" to purchase the six-month-
     old Oakley shoe line, with sneakers priced at $125. 
     Oakley's Renee Law, on the release of a new line of shoes
     priced at $90 a pair: "We're very committed to the category. 
     We're not dismayed by this; it fuels our motivation to bring
     our performance up" (ORANGE COUNTY REGISTER, 2/17).

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