Oakley

Oakley Inc., ratcheting up its feud with rival Luxottica, which makes Ray-Bans and other trendy sunglasses, has filed a lawsuit accusing the company of selling knockoffs of Oakley designs. The lawsuit, filed this month in federal court in Santa Ana, is the latest salvo in a conflict that escalated after Luxottica acquired Oakley's biggest customer, the Sunglass Hut chain, and began slashing orders of Oakley shades.

The New York Knicks added forward Charles Oakley to their eligible list for the playoffs and deactivated backup center Greg Butler on Monday. Oakley, the Knicks' top rebounder, has been out since mid-March with a broken bone in his left hand. The Knicks said X-rays of the hand show the break has healed. Oakley practiced on his own last week and was to work out with the team today and Wednesday.

Moving with unusual speed, President Reagan announced Thursday he will nominate veteran diplomat Robert B. Oakley to replace Arnold L. Raphel, the ambassador to Pakistan who was killed in the airplane crash that also claimed the life of Pakistan's President Zia ul-Haq. Oakley, 57, is currently the senior director of Middle East, South Asia and North Africa affairs for the National Security Council. He will be a member of the U.S. delegation headed by Secretary of State George P.

Oakley Inc.'s shares tumbled 37% on Thursday after the maker of trendy sunglasses said second-half earnings will fall because its single largest customer has unexpectedly reduced its orders. The stock fell to a 52-week low of $11 before closing at $11.03, off $6.46 on the New York Stock Exchange.

Oakley Inc. said it settled patent infringement lawsuits against Nike Inc. over sunglasses. Financial terms weren't disclosed. Sunglass maker Oakley sued Nike in 1997 and 2001, accusing the world's largest maker of athletic shoes of infringing patents for XYZ Optics and lens coatings. Oakley uses the patented technology in its X Metal line of glasses. Nike filed a countersuit, claiming unfair competition. Both denied wrongdoing.

Sunglasses manufacturer Oakley Inc. said Thursday that it has added a patent-infringement claim over lens coatings to a lawsuit it filed against Nike Inc. last year. In an amended complaint in federal court in Santa Ana, Oakley contends sneaker and apparel giant Nike copied its patented Iridium lens-coating technology in Nike's sunglasses line. The coating helps cut glare and allows wearers to tailor the glasses' tint for specific purposes, according to Oakley, which is based in Foothill Ranch.

Sunglasses maker Oakley Inc. reported higher quarterly profit, in line with analysts' estimates. Oakley said third-quarter net income rose 37% to $23.7 million, or 34 cents a share, from $17.3 million, or 25 cents, a year earlier. Sales increased 25.5% to $263.8 million. The Foothill Ranch-based company is being acquired by Italian eyewear company Luxottica Group.

Oakley Inc. Chairman and President Jim Jannard plans to purchase up to an additional 3 million of the company's common stock from time to time in the open market, the Foothill Ranch designer of sunglasses and goggles said Monday. Jannard has purchased about 4 million shares since January 1997, bringing his ownership of Oakley stock to nearly 38.6 million shares, or 54.6% of those outstanding. Oakley's stock was off 25 cents Monday to $12.81 a share in New York Stock Exchange trading.

Oakley Inc. cut its forecast for fourth-quarter sales and profit as customers bought fewer sunglasses. The company will take an expense for restructuring its European operations. Oakley expects fourth-quarter sales of about $100 million and break-even to 1-cent-per-share earnings after the expense, the company said. The Foothill Ranch-based company had forecast sales of $108 million to $110 million and earnings of about 10 cents. Oakley shares fell 20 cents to $12.