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Oakley Reiterates Earnings Forecasts

California | IN BRIEF / Southland

July 11, 2001|Reuters

Sunglasses maker Oakley Inc. said it remains comfortable with its previous forecasts of strong earnings gains for the second quarter and full year as demand for sunglasses remains high and new product launches are on schedule.

The Foothill Ranch company reiterated its earnings estimate of 33 cents a share for the second quarter, up 22% from the same period last year.

Estimates for full-year earnings per share remain at 98 cents a share, an increase of 34% from 2000.

Oakley's stock rose $1.55 to close at $21.45 on the NYSE.

The company said it intends to report its results for the second quarter July 18 before the stock market opens.

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