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Oakley Profit Jumps on Store Sales

October 23, 2003|From Dow Jones/Associated Press

Oakley Inc.'s third-quarter net income rose about 10% on strong showings from company-owned retail stores.

The eyewear maker, based in Foothill Ranch in Orange County, reported Wednesday that net income for the latest quarter was $13.5 million, or 20 cents a share, compared with $12.3 million, or 18 cents, a year earlier.

Despite its increased net income, Oakley failed to meet a Thomson First Call earnings estimate of 21 cents a share.

Net sales rose just shy of 10% to about $145 million.

Sales from Oakley-owned retail stores rose 76% from the year-earlier quarter to $15 million, the company said.

Oakley shares fell 31 cents to $10.35 on the New York Stock Exchange.

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