Oakley Profit Jumps on Store Sales
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.
