Oakley, Inc. has reiterated its 2004 sales and earnings guidance provided earlier this year. The company expects full year sales growth of approximately 10%, to approximately $574.0 million, with earnings expected to grow approximately 15% to 64 cents per diluted share including, a one cent gain from a slightly lower, 34%, tax rate. In 2003, the company reported then-record net sales of $521.5 million and earnings of 56 cents per diluted share.
“We feel comfortable reiterating our full-year sales and earnings guidance based on several factors, including positive first quarter sales trends, continued momentum from our retail operations and an overall stronger retail environment for our products,” stated Oakley Chief Operating Officer Link Newcomb. “In addition, we remain enthusiastic about our 2004 sunglass introductions which are beginning to ship to retailers now,” Newcomb concluded.