Oakley Reports Earnings Surge

Oakley Inc. on Wednesday said its earnings more than tripled, boosted by solid sales of newer products including Oakley Thump audio eyewear and sales of combat eyewear to the Army.

Fourth-quarter net income climbed to $10 million, or 15 cents a share, from $3.2 million, or 5 cents, a year earlier.

Wall Street analysts on average had forecast earnings for the quarter of 13 cents a share.

U.S. net sales, excluding the company’s retail store operations, increased 58% in the fourth quarter to $62.1 million, the company said. International net sales rose 2.9% to $69.8 million. Sales through Oakley’s U.S. retail store operations reached $21.1 million, up 34% from a year earlier.

Looking ahead, the company said it saw net sales growth of 10% to 15% in 2005, assuming a mid-single-digit increase in sunglass sales, combined with a 15% to 20% increase in the company’s newer-category sales.