Oakley Sees New Products Boosting Sales and Profits

Oakley Inc. said it expects to post strong gains in first-quarter earnings and sales, partly because of new eyewear products.

The Foothill Ranch company said earnings for the three months should total at least $3.5 million, or 5 cents a share, up from $1.4 million, or 2 cents a share, a year ago. Analysts had predicted the company would post earnings of 3 cents a share.

Oakley estimated that sales will total $55 million to $60 million, up from $48.7 million in the first quarter of 1999.

Oakley said products introduced over the past month, including its prescription frame and lens program, have been popular with consumers.

The company also said its footwear line will lose about $250,000 in the quarter but will become profitable in the second half of the year. The footwear line lost $1 million in the first quarter last year.

The estimates were disclosed after U.S. markets closed. Oakley’s stock moved up 50 cents to $9 a share on the New York Stock Exchange.