FOOTHILL RANCH, Calif., Oct. 12, 2004 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced three new collections that will expand its successful line of ophthalmic eyewear frames. Two of the new designs are made of O Metal(tm), an alloy developed by Oakley for ultra-thin ophthalmic frames. Another unique feature of this product introduction is a proprietary new quick-release lens system. This new system will enable eye care professionals to assemble instant samples for customers, combining four different frame designs in the complete ophthalmic frame collection with 17 different lens configurations.
"These latest innovations allow us to compete much more aggressively in the prescription eyewear channel," commented Oakley's Chief Operating Officer Link Newcomb. "Our new O Metal(tm) material gives our designers the ability to develop thin frame products and our interchangeable lens program enables eye care professionals to interchange Oakley lenses and frames, showing consumers first hand the many combinations that Oakley Rx now has to offer."
The properties of the new O Metal(tm) alloy allow Oakley to make frames 80% thinner than those produced with the company's popular C-5(tm) alloy. For an adaptable fit, the new alloy offers substantially more flexibility than conventional metal frames while maintaining the durability synonymous with Oakley eyewear.
Available in three distinct lens geometries, Oakley's new ophthalmic Thread(tm) frame has a rimmed lens configuration and is made of the company's proprietary O Metal(tm). The new alloy gives Thread(tm) remarkably thin architecture and offers the comfort of ultra-low weight.
Another new addition, Oakley's Split Thread(tm) frame is a rimless design composed of O Metal(tm), making it one of the lightest eyewear inventions ever developed by the company. To attach the frame components to the lenses, Oakley developed a unique rimless mounting technology that ensures a secure mount.
Oakley's new WHY(tm) 4 frame was inspired by the success of the company's current WHY(r) 3 design. The rimless architecture of WHY(tm) 4 utilizes X Metal(r) Titanium, a proprietary alloy that offers a phenomenal strength-to-weight ratio for maximized durability and comfort.
To complement its expanding line of ophthalmic frames, Oakley manufactures corrective lenses that are custom ground to each customer's prescription. Although the company's ophthalmic frames can be fitted with lenses from other manufacturers, customers can opt for Oakley's lightweight Plutonite(r) lenses. The durable lens material inherently blocks 100% of all UVA, UVB, UVC and harmful blue light. Available options include polarization, clear lenses with anti-reflective coating, and a full range of hues including Iridium(r) lens coatings that reduce glare and tune contrast for any light condition.
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 also offers an expanding line of premium performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 100 countries. Trailing-12-month revenues through June 30, 2004 totaled $545.7 million and generated net income of $36.9 million. Oakley, Inc. press releases, SEC filings and the company's Annual Report are available at no charge through the company's web site 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," "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: risks related to 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 successfully introduce new prescription eyewear lines; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on eyewear sales to Sunglass Hut, which is owned by a major competitor and, accordingly, could materially alter or terminate its relationship with the company; the company's ability to expand distribution channels and its own retail operations in a timely manner; 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; continued weakness of economic conditions could continue to reduce or further reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; further terrorist acts, or the threat thereof, could continue to 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 acquisitions and licensing arrangements without adversely affecting operations; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of the company's new products and changes in consumer preferences; 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 concentrated in Southern California where substantially all of the companies operations are based; 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, 2003 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.