Oakley: net income up 27 percent in the second quarter

Oakley has announced that net sales increased 10.8 percent and net income grew 27.3 percent in its second quarter ended June 30, 2005.

Net sales grew to a quarterly record $170.5 million, compared with $153.8 million in the second quarter of 2004. Net income for the second quarter totaled $20.3 million, or $0.30 per diluted share, compared with net income of $16.0 million, or $0.23 per diluted share, earned in the second quarter of 2004.

Sales of new 2005 sunglass styles (Crosshair, Whisker, Bottlecap, Gascan And Riddle), perform 65.6 percent better than last year's introductions in the comparable quarter.

Net sales through Oakley-owned retail stores grow 38.6 percent to $26.0 million. Gross sales of newer product categories increase 24.7 percent. Full year earnings per share guidance adjusted upward to the higher end of an increased range of 25 to 30 percent growth over 2004.