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Double-digit growth in watch sales at Oakley
19 Oct '07
3 min read
Oakley Inc announced financial results for its third quarter ended September 30, 2007. Oakley generated third quarter net sales of $263.8 million, an increase of 25.5 percent from $210.2 million in the same period of 2006.
Net income for the third quarter totaled $23.7 million, or $0.34 per diluted share, which includes an approximate $0.02 per diluted share impact of transaction costs related to the company's previously announced merger agreement with Luxottica Group S.p.A.. Net income for the third quarter of 2006 was $17.3 million, or $0.25 per diluted share.
"This marks our fifth consecutive quarter of significant double digit optics growth with strength across all product types, sales channels and geographies," said Oakley Chief Executive Officer Scott Olivet.
"The fact that we saw strength across our 2007 sport performance, Square O lifestyle, and women's collections is a strong indicator that Oakley's philosophy of 'innovations wrapped in art' is resonating with a wide range of consumers."
"Our efforts to connect more deeply with each of our consumers also saw significant progress," continued Olivet. "The expansion of the Oakley Custom eyewear program, launch of an exclusive Icon grab-bag series for core action sport accounts, initiation of our artist collaboration series, and release of the Livestrong RADAR and FLAK JACKET styles, are just a few of the successful initiatives allowing individuals to address their performance needs and express their individuality within the Oakley brand."
Net income for the third quarter totaled $23.7 million, or $0.34 per diluted share, which includes an approximate $0.02 per diluted share impact of transaction costs related to the company's previously announced merger agreement with Luxottica Group S.p.A.. Net income for the third quarter of 2006 was $17.3 million, or $0.25 per diluted share.
"This marks our fifth consecutive quarter of significant double digit optics growth with strength across all product types, sales channels and geographies," said Oakley Chief Executive Officer Scott Olivet.
"The fact that we saw strength across our 2007 sport performance, Square O lifestyle, and women's collections is a strong indicator that Oakley's philosophy of 'innovations wrapped in art' is resonating with a wide range of consumers."
"Our efforts to connect more deeply with each of our consumers also saw significant progress," continued Olivet. "The expansion of the Oakley Custom eyewear program, launch of an exclusive Icon grab-bag series for core action sport accounts, initiation of our artist collaboration series, and release of the Livestrong RADAR and FLAK JACKET styles, are just a few of the successful initiatives allowing individuals to address their performance needs and express their individuality within the Oakley brand."
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