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Oakley Inc

BUSINESS
October 22, 1996
Oakley Inc.'s board authorized the repurchase of up to 3 million common shares in the open market as market conditions warrant. The stock, which has sagged recently, "represents an attractive investment opportunity," said Mike Parnell, chief executive officer of the manufacturer of designer sunglasses and goggles. "We are confident there has been no change in the fundamentals of our business," he added.
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BUSINESS
April 21, 2006 | From Reuters
Oakley Inc. posted an 80% drop in first-quarter profit Thursday as strong sales of sunglasses failed to offset higher operating expenses and lower margins as the Foothill Ranch-based company scales back on apparel and footwear to focus on eyewear. Net income fell to $1.9 million, or 3 cents a share, compared with $10 million, or 15 cents, in the year-earlier period. Analysts, on average, had been expecting earnings per share of 2 cents, according to Reuters Estimates.
BUSINESS
December 19, 1997 | Russ Stanton
For the fourth time this year, Oakley Inc. Chairman Jim Jannard plans to buy up to 1 million shares of stock in the sunglasses maker. Jannard said Thursday that despite a lackluster year for the sunglasses industry, he continues to believe that Oakley shares "represent an opportunistic investment at current market prices." Jannard said he would buy the shares from time to time in the open market. Oakley shares advanced 13 cents Thursday to $9.50.
BUSINESS
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.
BUSINESS
November 15, 1996
Oakley Inc. said the District Court of Paris ruled in its favor in design patent and trademark infringement cases against Bausch & Lomb Inc. Oakley said the court ruled the "Northside" model sold under Bausch & Lomb's Killer Loop brand infringes the registered design protecting Oakley's "Eye Jacket" model. Oakley said the court awarded damages to Oakley from both Killer Loop and Bausch & Lomb and ordered the cessation of sale of all Northside products.
BUSINESS
December 16, 1998 | Leslie Earnest
Oakley Inc. said Tuesday that a judge has ruled in its favor on eight pretrial motions related to the Foothill Ranch company's patent infringement lawsuit against Nike Inc. The federal court's rulings strengthen Oakley's legal positions and will limit Nike's defense at the trial, which is scheduled to begin in June, Oakley said.
BUSINESS
June 7, 1997 | GREG JOHNSON
Oakley Inc. has acquired One Xcel Inc., a Massachusetts company that markets optically correct protective face shields used on sports helmets, the companies said Friday. Terms of the acquisition were not released. In a news release, Oakley said it will consolidate One Xcel's business in its new plant in Foothill Ranch. Oakley will continue to market the polycarbonate shields under the One Xcel name.
BUSINESS
March 20, 1998 | RUSS STANTON
It didn't show up in the sports pages, but if Oakley Inc. were a country, the Foothill Ranch sunglasses maker would have been the runaway winner of the recent Winter Olympics. Athletes wearing the company's high-tech glasses and helmet shields won 32 medals in 16 events at the recently concluded games in Nagano, Japan. The speedskating events in particular looked like one long Oakley commercial.
BUSINESS
April 28, 1998 | Patrice Apodaca
Oakley Inc. Chairman and President Jim Jannard decided to forgo compensation in 1997, a year in which the sunglasses supplier saw its profit sag. Company spokeswoman Renee Law said that Jannard decided in mid-1996 to waive all future salary and link his compensation entirely to the Foothill Ranch-based company's returns. Jannard is Oakley's largest stockholder with 38 million shares, or 53.8% of the total. That stake was worth $461 million as of Monday's closing price of $12.
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