FOOTHILL RANCH, Calif., Sept. 17, 2003 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced the latest additions to the company's prescription eyewear line.
"Oakley's prescription business continues to thrive and expand its ophthalmic frame offerings. This fall's introductions are no exception. Consumers can now choose from a larger selection of unique, sculptured ophthalmic frames including two new debuts -- a semi-rimless design and a new concept featuring an exposed spring piston," commented Colin Baden, President of Oakley, Inc.
Among four new ophthalmic frames being released by Oakley, Chain will be available in three unique lens shapes. For the comfort of an ultra-lightweight design, Oakley has combined open-edge lens architecture with durable X Metal(r) Titanium. Sculptural temples lock into place with piston spring hinges, and soft Unobtainium(r) earsocks maintain a secure, comfortable fit. Ophthalmic-specific geometry maximizes the range of visual correction. The new Chain family of ophthalmic eyewear frames includes the elliptical lenses of the 2.0 version, the oval lenses of the 4.0 version, and the linear contouring lens of the 6.0 version.
For the new Box Spring ophthalmic frame, Oakley utilized a proprietary alloy called C-5. This frame material offers an exceptional strength-to-weight ratio, so comfort and durability are optimized. Sculptural enhancements include a dimensional bridge and temples, accented by the open mechanics of piston spring hinges. The ophthalmic-specific design maintains a secure fit with the soft grip of Unobtainium(r) earsocks. The new Box Spring family features two lens shapes: the tapered lens geometry of the 2.0 version and the extended lens coverage of the 4.0 version.
Further expanding its range of products for the women's market, Oakley rendered its new Halo frame with soft curves for a uniquely feminine design. The swept-back contours of durable, lightweight O Matter(r) frame material allows for a six-base lens curvature that extends peripheral vision and protection. Heat adjustable for a customized fit, the temples blend into sculpturally integrated hinges with script logo accents engraved in metal.
The fourth new addition to Oakley's expanding line of corrective eyewear, O3, features open-edge lenses and sculptural components of durable X Metal(r) Titanium. The remarkably low weight offers all-day comfort that is enhanced by soft Unobtainium(r) earsocks. An adaptable fit is achieved with specially engineered spring hinge mechanisms. Optimized for a full range of visual correction, the O3 line has been expanded to include two new models. Consumers can choose among the enhanced coverage of the Lens 1 option, the angled oval contouring of the Lens 2 option, or the softened curvature of the Lens 3 option.
The new introductions are expected to ship in late September to both domestic and international optical accounts, with the exception of Halo, which is expected to ship in mid-October.
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 70 countries. Trailing-12-month revenues through June 30, 2003 totaled $489.9 million and generated net income of $34.2 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.
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. 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; 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 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 effect 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; the company's ability to maintain its annual dividend, which is subject to its ability to continue to generate or have access to sufficient capital in excess of its needs for operations and its growth strategies 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, 2002 and other filings made periodically by the company. The company undertakes no obligation to update this forward-looking information.