FOOTHILL RANCH, Calif., July 11, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced the release of MONTEFRIO(tm), the latest in the company's exclusive Stretch(r) line of sunglasses. The new eyewear was co-designed with Shaun White, a four-time, gold medal X Games snowboard champion and accomplished professional skateboarder.
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"We innovate by listening to the pros. Their input is essential to advancing performance technology," said Oakley President Colin Baden. "Those who challenge the limits of surf, skate, snow and MX are the ones who define the youth culture of action sports. That's why we chose to work with Shaun White, one of the most respected competitors in snowboarding and skateboarding, to develop MONTEFRIO(tm)."
"I came to the company with some ideas and while most companies would have pushed back saying, 'Yeah, thanks... we'll get back to you,' Oakley didn't," said Shaun White. "They wanted to get inside my head and know all my thoughts, not just the performance angle. I wanted these glasses to be as much style as tech and they nailed the design."
The new MONTEFRIO(tm) sunglasses are made of stress-resistant O Matter(r), a durable and lightweight synthetic material. The hybrid hinge design utilizes Oakley's C-5(tm) alloy to further minimize weight blending seamlessly with design cues and features patented XYZ Optics(r), a technology that maximizes visual clarity at all conceivable angles of vision. Oakley's 'three point fit' retains the lenses in precise optical alignment while optimizing comfort by ensuring the frame makes contact with the wearer only at the bridge of the nose and the temples. The Plutonite(r) lenses filter out 100% of all UV light and six-base curvature extends peripheral vision while improving side protection against sun and wind. Additionally, the lenses surpass all ANSI Z80.3 standards for optical performance and the lens/frame combination meets all ANSI Z87.1 standards for impact protection.
Shaun turned professional at age 13 after winning his first contest at one of snowboarding's most prestigious events, The Arctic Challenge. Now 18, Shaun's long list of accomplishments includes four gold medals at the Winter X Games, including winning both Men's Snowboard Slopestyle and SuperPipe competitions at the 2003 games, and the 2003 ESPY award for the Best Action Sports Athlete. His innovative riding combined with his smooth style has consistently allowed Shaun to raise the bar and set new standards for the sport. In addition to snowboarding, Shaun has begun proving himself in the world of skateboarding having recently won his first Skate Vert contest at the Panasonic Open Dew Action Sports Tour stop in Louisville, Ky.
MONTEFRIO(tm) is the fourth in Oakley's Stretch(r) line of sunglasses, joining WARDEN(tm), FATCAT(tm) and RAZOR BLADES(r). Available in limited release, this exclusive line was developed for consumers who want eyewear fashion as unique as their personality. Design features range from vintage nods to aggressive styling, and each frame includes the proven Oakley technologies for clarity, comfort and protection. Sunglasses in the Stretch(r) line are accented with metal logos that sign them as uniquely Oakley.
Oakley's MONTEFRIO(tm) is slated for release in five color combinations, and each one is accented with a unique color on the hinge band feature. A style with gradient lenses has been developed, as well as a Shaun White signature colorway with Black Iridium(r) lens coating to reduce glare and tune light transmission. Distribution for the new design will be through select surf/skate/snow accounts including 800 doors in the United States and 1,500 retail doors globally.
PART No. FRAME COLOR LENS COLOR --------- ----------------------------------- ---------------- 03-500 Polished White (White Band) Dark Grey 03-501 Dark Brown (Tan Band) Brown Gradient 03-502 Polished Black (Chrome Band) Black Iridium(r) 03-503 Olive Tortoise (Olive Chrome Band) Grey 03-504 Brown Tortoise (Polished Gold Band) Bronze
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 performance apparel and accessories, prescription eyewear, footwear, personal electronics and watches to consumers in more than 100 countries. Trailing-12-month net sales through March 31, 2005 totaled $598.6 million and generated net income of $44.7 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 concentrated in Southern California where a significant portion of the company's 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, 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.
