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Oakley's new 2005 sunglass sales up 65.6% for Q2
21 Jul '05
10 min read
Accounts receivable totaled $94.7 million at June 30, 2005, compared with $102.8 million at December 31, 2004 and $90.8 million at June 30, 2004. Accounts receivable days sales outstanding (DSO) improved to 51 at June 30, 2005 compared with 54 at June 30, 2004.
2005 Guidance
The company's revised guidance for 2005 projects full year earnings growth over 2004 to be in the high end of an increased range of 25 to 30 percent, up from previous guidance of 15 to 20 percent growth announced on April 20, and full-year net sales growth at the upper end of its previous guidance of 10 to 15 percent.
This net sales guidance assumes a mid to high single-digit increase in sunglass sales combined with an approximate 20 to 25 percent increase in the company's newer category sales for the year and also reflects management's current plans to continue expanding its retail locations.
In putting forth this outlook, management reminds investors that the unpredictable nature of the economies and retail environments in many of Oakley's key global markets, coupled with the company's heavy reliance on "at-once" orders from retailers to replenish sunglass inventory sold to consumers, complicate management's attempts to accurately assess future order and sales trends.
In addition, the company believes that its new electronics category will continue to be a significant contributor to its 2005 performance. However, Oakley's relative inexperience in the electronics market, public acceptance of new products and variables related to military procurement all contribute to the difficulty in accurately forecasting future performance.
2005 Guidance
The company's revised guidance for 2005 projects full year earnings growth over 2004 to be in the high end of an increased range of 25 to 30 percent, up from previous guidance of 15 to 20 percent growth announced on April 20, and full-year net sales growth at the upper end of its previous guidance of 10 to 15 percent.
This net sales guidance assumes a mid to high single-digit increase in sunglass sales combined with an approximate 20 to 25 percent increase in the company's newer category sales for the year and also reflects management's current plans to continue expanding its retail locations.
In putting forth this outlook, management reminds investors that the unpredictable nature of the economies and retail environments in many of Oakley's key global markets, coupled with the company's heavy reliance on "at-once" orders from retailers to replenish sunglass inventory sold to consumers, complicate management's attempts to accurately assess future order and sales trends.
In addition, the company believes that its new electronics category will continue to be a significant contributor to its 2005 performance. However, Oakley's relative inexperience in the electronics market, public acceptance of new products and variables related to military procurement all contribute to the difficulty in accurately forecasting future performance.
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