Oakley Inc. "logged a record" $100M in sales in its
second quarter, "due in part to strong demand for snazzy
styles such as those shown" in the movie "Mission:
Impossible 2," according to Leslie Earnest of the L.A.
TIMES. Earnings "surged" 80%, "far exceeding analysts'
expectations, marking" Oakley's second "strong quarterly
performance after a lackluster" '99. Oakley's earnings for
the three months totaled a record $18.5M, or $0.27 per
share, compared with $10.6M, or $0.15 a year ago. Earnest
wrote that Oakley "figures to get another boost" with the
2000 Olympics, as about 325 Olympic athletes "will likely be
wearing Oakley sunglasses, ensuring that the brand will be
plastered on television screens around the world." Oakley
spokesperson Lance Allega noted that Tour de France leader
Lance Armstrong, golfer David Duval and MLB Cardinals 1B
Mark McGwire are wearing Oakley's "wraparound, single-lens
Pro M Frame shades." Earnest cited analysts as saying that
there is "more to Oakley's strong numbers than publicity."
The company, which "struggled" in '99 after launching its
shoe division, "has improved its infrastructure, cranked out
a record number of new sunglass styles, expanded its line of
sneakers and apparel, and pushed to make sure products get
to stores early in the season" (L.A. TIMES, 7/20). Oakley
Chair & CEO Jim Jannard, on the company's earnings: "We're
pretty fired up about our business" (O.C. REGISTER, 7/20).
