FOOTHILL RANCH, Calif., March 15, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) announced at its New York event this past weekend the further expansion of its successful line of ophthalmic-specific eyewear frames. Two of the new releases feature Oakley O Metal, a proprietary alloy used to create ultra-thin eyewear frames. The third new release is composed of O Matter(r) and C-5(tm) alloy, two lightweight frame materials with proven durability and comfort.
A photo accompanying this release is available at: http://www.primezone.com/newsroom/prs/?pkgid=1475
"There is a wide consumer base that values fashion above all else," commented Oakley President Colin Baden. "Our prescription eyewear business is a perfect opportunity to educate these consumers about the Oakley brand, and show that they don't have to sacrifice performance, durability and comfort for style. Our new ophthalmic frames combine the performance of proprietary materials with fashion appeal that is unique to the industry. Consumers who purchase Oakley art will learn the benefits of Oakley science," Baden concluded.
Oakley offers a wide array of ophthalmic-specific frames composed of C-5(tm) alloy, O Matter(r), X Metal(r) and other premium materials engineered for the comfort of low weight and the durability of high modulus properties. A recent addition, Oakley O Metal is a proprietary alloy that allows the company to create exceptionally thin eyewear frames. The innovative material produces frames that offer a secure fit with minimal cranial pressure. All-day comfort is further optimized by supple Unobtainium(r) on the frame temples, and each eyewear design is finished with true metal icons.
Oakley's new Jackknife(tm) ophthalmic-specific frame is a semi-rimless design that utilizes O Metal to offer the comfort of ultra-low weight. Thin yet durable, the sculpturally contoured frame is available with two optional lens shapes, both of which are rendered with subtly rectangular geometry.
Hollowpoint(tm) is another of Oakley's new ophthalmic-specific releases, and the frame offers the same O Metal benefits as the company's new Jackknife(tm). Thin and ultra light, Hollowpoint(tm) combines a semi-rimless design with a double bridge feature. The dimensionally rendered architecture of Hollowpoint(tm) is paired with two unique lens shape options.
Oakley's new Blender(tm) ophthalmic-specific frame combines sculptural temples of O Matter(r) with lens orbitals of C-5(tm) alloy, a proprietary blend of five metal compounds. O Matter(r) is a synthetic developed by Oakley to produce eyewear frames that combine durability with the comfort and fit of resilient flexibility. The Oakley Blender(tm) frame is available in two lens configurations.
The photo accompanying this release is also available at NewsCom, www.newscom.com
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 net sales through December 31, 2004 totaled $585.5 million and generated net income of $41.6 million. Oakley, Inc. press releases, SEC filings and the company's Annual Report are available at no charge through the company's website at www.oakley.com.
Safe Harbor Disclaimer
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: acceptance and performance of the company's 2005 women's range of apparel; risks related to the successful launch and sale of Oakley Thump; 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 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.
