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Oakley's 2006 net sales of AFA jump 5.6%
09 Feb '07
3 min read
Oakley Inc reported its preliminary unaudited results for the year ended December 31, 2006. Oakley generated record net sales of $761.9 million, an increase of 17.5 percent from $648.1 million in the prior year.
2006 net income was $44.8 million, or $0.65 per diluted share, including footwear restructuring charges of $2.0 million net of tax, or $0.03 per diluted share, consistent with the company's guidance of $0.68 per diluted share given at various times throughout the year.
"2006 was a year of strategic re-alignment for Oakley. We concentrated our efforts on five key strategies announced at the beginning of the year -- focus on optics, enhance brand development, restructure footwear, re-align apparel and expand our retail platforms," said Oakley, Inc. Chief Executive Officer Scott Olivet. "The early results have been promising as evidenced by solid sales growth across all geographies and key products, highlighted by an immediate acceleration in our optics growth."
"With the footwear restructuring complete, we will continue to focus on optics growth, solidifying our brand development efforts, re-aligning our apparel business, and expanding the retail platform," continued Olivet. "Additionally, we will increase our attention on greater international penetration and operational excellence, with a priority on acquisition integration and consumer/retailer customer service enhancements."
Olivet concluded, "We believe that these strategies,along with the brand and product portfolio effect we are seeing with the addition of Oliver Peoples, retail expansion with The Optical Shop of Aspen (OSA) acquisition, and broadening of our military business with the acquisition of Eye Safety Systems, position Oakley, Inc. for sustained, profitable growth in 2007 and beyond."
2006 net income was $44.8 million, or $0.65 per diluted share, including footwear restructuring charges of $2.0 million net of tax, or $0.03 per diluted share, consistent with the company's guidance of $0.68 per diluted share given at various times throughout the year.
"2006 was a year of strategic re-alignment for Oakley. We concentrated our efforts on five key strategies announced at the beginning of the year -- focus on optics, enhance brand development, restructure footwear, re-align apparel and expand our retail platforms," said Oakley, Inc. Chief Executive Officer Scott Olivet. "The early results have been promising as evidenced by solid sales growth across all geographies and key products, highlighted by an immediate acceleration in our optics growth."
"With the footwear restructuring complete, we will continue to focus on optics growth, solidifying our brand development efforts, re-aligning our apparel business, and expanding the retail platform," continued Olivet. "Additionally, we will increase our attention on greater international penetration and operational excellence, with a priority on acquisition integration and consumer/retailer customer service enhancements."
Olivet concluded, "We believe that these strategies,along with the brand and product portfolio effect we are seeing with the addition of Oliver Peoples, retail expansion with The Optical Shop of Aspen (OSA) acquisition, and broadening of our military business with the acquisition of Eye Safety Systems, position Oakley, Inc. for sustained, profitable growth in 2007 and beyond."
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