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U.S. album sales are down 17% this year, a downward spiral caused in part by a surge in online music purchases and fewer big-name albums being released in the first quarter.
Sunglasses maker Oakley Inc. said first-quarter profit tripled to $5.7 million, or 8 cents a share, compared with $1.9 million, or 3 cents, a year earlier. Sales rose to $199.2 million from $151.7 million a year earlier, the Foothill Ranch company said.
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