FOOTHILL RANCH, Calif., Sept. 15, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced the availability of Oakley(r) Transitions(r) and Oakley(r) Iridium(r) with Transitions(r) prescription lenses. The new lens offerings combine the technologies of Transitions V with ESP(r) photochromic technology, Oakley Iridium lens coating and Oakley Plutonite(r) lens material. The partnership with Transitions marks the first time that photochromics have been integrated with Oakley prescription optics. Transitions' photochromic technology makes lenses darken automatically in response to sunlight.
"This partnership offers a valuable opportunity we expect will further extend Oakley's growing business in prescription eyewear," said Oakley President Colin Baden. "By combining the proven technologies of both companies, we are able to offer a world first: prescription lenses that blend Oakley's world-class lens material and lens coatings with the breakthroughs of Transitions photochromic technology."
"The Oakley brand is well-known, and is associated with innovation and quality, so we see this as an excellent opportunity to complement Transitions' industry leadership and continue our commitment to growing the photochromics category," said Dave Cole, general manager of the Americas, Transitions Optical. "Oakley and Transitions are both dedicated to achieving eyewear innovations that protect, enhance and promote healthy sight, so this is a natural partnership that enables us to build on our widespread ability to provide even more choices in prescription lenses."
The new Oakley(r) Transitions(r) lenses, which are virtually clear indoors, darken when exposed to direct sunlight and achieve an 84% light absorption. Oakley(r) Iridium(r) with Transitions(r) lenses offer a slightly tinted appearance in the inactivated state and achieve a minimum of 89% light absorption when exposed to sunlight. Available for frames with higher wrap architecture, Oakley(r) Iridium(r) with Transitions(r) feature superheated metal oxides that are fused to the lens surface at the molecular level. This Oakley innovation achieves an optically uniform layer of filtering that reduces glare and tunes light transmission to optimize performance in specific environments. The new lens includes an antireflective (AR) coating to eliminate the annoying reflections common to the back surfaces of all lenses.
The new lenses are made of optically pure Plutonite, a proprietary Oakley material that inherently blocks 100% of all UVA, UVB, and UVC light. The lens material offers unsurpassed impact protection, making it a popular choice among consumers with active lifestyles. Oakley(r) Transitions(r) lenses will be available in gray and brown. Oakley(r) Iridium(r) with Transitions(r) will be available in black, emerald and gold.
Oakley offers a comprehensive line of ophthalmic-specific frames and prescription lenses that are recognized among the best in the world. The Oakley Rx system maps light rays in a three-dimensional grid to achieve precise coordination between lens geometry and the human eye, offering uniform optical clarity across the entire lens surface.
About Transitions Optical
Headquartered in Pinellas Park, Fla., Transitions Optical was the first to successfully commercialize a plastic photochromic lens in 1990. As the leading supplier of photochromics to optical manufacturers, Transitions Optical offers the most advanced photochromic technology and the widest selection of lens designs, materials and brand names. Transitions Lenses are the #1 recommended photochromic lens worldwide. For more information about the company and Transitions Lenses, the first to earn the American Optometric Association's Seal of Acceptance for Ultraviolet Absorbers/Blockers, visit Transitions.com or contact Transitions Optical Customer Service at (800) 848-1506 (United States) or (877) 254-2590 (Canada).
About Oakley, Inc.
Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading premium sunglasses, the company offers a full array of products including prescription eyewear, performance apparel and accessories, footwear, watches and electronics to consumers in more than 100 countries. Trailing-12-month net sales through June 30, 2005 totaled $615.3 million and generated net income of $49.0 million. Oakley, Inc. press releases, SEC filings and the company's annual report are available at www.oakley.com.
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This press release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to growth and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond the control of the company. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "believe," "plan," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including but not limited to: the acceptance in the marketplace of the company's new product introductions; the company's ability to maintain approved vendor status and continue to receive product orders from the U.S. military; the company's ability to integrate and operate acquisitions, the company's ability to manage rapid growth; risks related to the limited visibility of future sunglass orders associated with the company's "at once" production and fulfillment business model; the ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the ability of those manufacturing partners and the company's internal production operations to increase production volumes on raw materials and finished goods in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its retail customers; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on eyewear sales to Luxottica Group S.p.A, which, as a major competitor, could materially alter or terminate its relationship with the company; the company's ability to expand and grow its distribution channels and its own retail operations; unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction in the rate of reorders placed by retailers; a weakening of economic conditions could continue to reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; terrorist acts, or the threat thereof, could adversely affect consumer confidence and spending, could interrupt production and distribution of product and raw materials and could, as a result, adversely affect the company's operations and financial performance; the ability of the company to integrate licensing arrangements without adversely affecting operations and the success of such initiatives; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; reductions in sales of products, either as the result of economic or other conditions or reduced consumer acceptance of a product, could result in a buildup of inventory; the ability to source raw materials and finished products at favorable prices to the company; the potential impact of periodic power crises on the company's operations including temporary blackouts at the company's facilities; foreign currency exchange rate fluctuations; earthquakes or other natural disasters; the company's ability to identify and execute successfully cost control initiatives; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and other filings made periodically by the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update this forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.
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