Oakley posts record Q1 sales; net income rises 74 percent

Part of the sale uplift is due to global sales of Thump, Oakley's MP3 playing shades. But, like Camelbak, Oakley is also a company that sells well to the military, especially to soldiers posted to the Middle East...
Author:
Publish date:

Oakley, Inc. today announced results of its first quarter ended March 31, 2005.

First quarter net sales increased 10.2 percent, to $141.8 million, a first quarter record, compared with $128.6 million in the first quarter of 2004. Net income for the first quarter totaled $7.4 million.

Oakley's chief operating officer Link Newcombsaid: "Our strong first quarter results were fueled by solid sales growth in our newer categories, including the successful international launch of Thump and the release of our new spring line of apparel and accessories. The quarter also benefited from additional sales of combat eyewear to the U.S. military and solid expense control.

"Based on our strong first quarter results and the expectations for our planned introductions, we now expect full year 2005 net sales growth near the upper end of our previously issued guidance of 10 to 15 percent and earnings growth in the high end of an increased range of 15 to 20 percent over 2004."

Total first quarter U.S. net sales increased 8.8 percent to $67.0 million from $61.6 million during the same period last year. U.S. net sales, excluding the company's retail store operations, totaled $49.0 million, compared with $47.8 million in last year's comparable quarter. First quarter net sales at Oakley's retail locations increased 30.5 percent to $18.0 million and included a double-digit increase in comparable-store sales. At the end of the first quarter, the company operated 37 O Store locations and 84 Iacon sunglass specialty stores.

First quarter international net sales increased 11.5 percent to $74.8 million, compared with $67.1 million in last year's comparable period. Net sales grew in every region, fueled by the international launch of Thump.

Featured Jobs

cls logo_jpg 600x348

Bike Mechanic

Club La Santa I Lanzarote, Canary Islands I Competitive Salary & Benefits I Date Published Monday 7th January 2019

LTR coral logo 620x349

Local Project Manager (x3 roles)

Love to Ride I North East Lincolnshire, Slough, Southampton I Salary: £32,500 equivalent (PT, temporary) I Date Published Monday 7th January 2019

Logo stacked

Head of Marketing

Brompton I West London I Salary Competitive I Date Published Wednesday 9th January 2019

BE2016_googlelogo

Senior Sales Executive

BikeExchange I UK Nationwide I Salary TBC Depending on level of experience I Date published Wednesday 16th January 2019