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Article: Profits Climb for Foothill Ranch, Calif.-Based Sunglass Maker Oakley.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 12, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Tiffany Montgomery, The Orange County Register, Calif. Knight Ridder/Tribune Business News
Feb. 12--A jump in sunglass sales, brisk demand for clothing and prescription glasses, and a weak U.S. dollar boosted fourth-quarter sales and profits at Oakley Inc., the company reported Wednesday.
Sales increased 18 percent to $121.5 million for the quarter ended Dec. 31 compared with $102.9 million the same period last year. Net quarterly income increased to $3.2 million from $487,000.
Chief Operating Officer Link Newcomb said the company hopes the results mark a "turning point" and a return to earnings growth for Oakley, whose high-priced, ...