FOOTHILL RANCH, Calif., March 31, 2006 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced that it plans to partner with Transitions Optical, Inc. to create a line of non-prescription (plano) sunglass lenses that automatically adjust the level of tint with varying ultraviolet (UV) light conditions. The Transitions(R) Photochromic Technology has been combined with the unsurpassed clarity of Oakley's High Definition Optics(R) (HDO(R)), the impact resistance and optical purity of Plutonite(R) lens material, and the enhanced visual contrast of Oakley lens colors.
"The patented technologies of Transitions Optical combined with Oakley's High Definition Optics marks an evolutionary step in sunglass technology, offering levels of performance, convenience and optical clarity the world has never seen," said Colin Baden, president of Oakley, Inc. "Whether you're golfing, cycling or pounding pavement on a dawn training run, you can't maintain peak performance unless your eyes keep up with your environment."
"Transitions and Oakley are committed to advancing eyewear technology, and protecting and promoting healthy sight. Given Oakley's 30-year sports heritage, this is a great opportunity to bring our photochromic technology to outdoor sport performance applications," said Dave Cole, general manager of the Americas, Transitions Optical. "Now, whether you're an athlete or just involved in outdoor activities these new sunglass lenses provide convenient protection from UV and glare while maximizing visual performance in all lighting conditions."
"If you're a professional athlete, this combination of technologies gives you performance, impact resistance and clarity that you can't get with any other product," continued Baden. "Even non-athletes -- people who just want better comfort and the peace of mind that comes with knowing their view of the world is as sharp and clear as technology allows while being protected from the sun -- will have the opportunity to utilize this combination of the world's best optical sciences."
Offering an entirely new level of performance for sports and recreation, these variable tint, plano sunglass lens products join the line of Oakley prescription lenses currently available with photochromic technology -- Oakley(R) Transitions(R) Lenses and Oakley(R) Iridium(R) Lenses Activated by Transitions(TM).
Oakley(R) Activated by Transitions(TM) Plano Sunglass Lenses
The Oakley(R) Activated by Transitions(TM) plano sunglass lenses will initially be available in two performance colors including Oakley's VR50(TM) and Black Persimmon. As UV light exposure increases, the base lens darkens automatically to maintain a precisely tuned level of light transmission -- from overcast/flat light to bright sun -- ensuring visual acuity is optimized. Additionally, the balanced light transmission helps to boost visual contrast, enhancing depth perception, a key performance benefit that improves visual quality and comfort.
For the initial launch, Oakley expects that six frame designs will be available with the option of Transitions(R) Photochromic Technology. They will be sold under their frame name with "Activated by Transitions(TM)" added.
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Bottlecap(TM) Polished Black VR50(TM) $170
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Half Jacket(R) Jet Black VR50(TM) $170
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Half Jacket(R) XLJ Jet Black VR50(TM) $170
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Half Jacket(R) XLJ Jet Black Black Persimmon $180
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Half Jacket(R) Jet Black Black Persimmon $180
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Crosshair(TM) Black Chrome VR50(TM) $210
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Whisker(TM) Platinum VR50(TM) $210
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Racing Jacket(R) Pearl VR50(TM) $210
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Bottlecap(TM) Black Chrome Black Persimmon $215
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Racing Jacket(R) Jet Black Black Persimmon $220
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These products are expected to have limited availability at Oakley O Store(R) and Iacon(R) store locations, and online at www.oakley.com beginning in April. Wider distribution will include additional sport and sunglass specialty stores, and international locations later in the second quarter. For more information, please visit www.oakley.com/technology/photochromic.
Oakley High Definition Optics(R) (HDO(R))
Oakley HDO(R) is a collective platform of patented technologies that offers unsurpassed visual clarity. Optical tests from the American National Standards Institute (ANSI) show that Oakley HDO(R) makes vision clearer and sharper, virtually eliminating the problems of ordinary lenses such as refractive and prismatic distortion. Pure Plutonite(R) lens material filters out damaging UV rays including 100 percent of all UVA, UVB, UVC and harmful blue light up to 400nm.
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 most recommended photochromic lens in the world. 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, Inc. designs, manufactures and distributes high-performance sunglasses, prescription lenses and frames, goggles and technology-enabled eyewear that utilize the company's High Definition Optics(R) (HDO(R)), a collective platform of patented technologies that offer unbeatable optical performance. The company also produces technical and active apparel, footwear and accessories. Trailing-12-month net sales through December 31, 2005 totaled US$648.1 million. Oakley, Inc. press releases, SEC filings and the company's annual report are available at investor.oakley.com.
The Oakley Inc. logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1533
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," "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.
Transitions is a registered trademark and Activated by Transitions is a trademark of Transitions Optical, Inc.