***TO EVERYONE SOME GOOD NEWS 1/24/97 ON RAYS*****
Friday January 24 8:48 AM EST
Oakley Inc sees Q4 EPS below estimates of $0.09
IRVINE, Calif., Jan 24 (Reuter) - Oakley Inc Friday said fourth-quarter net sales fell nine percent to $39.3 million from $43.0 million a year ago, which will likely
cause share earnings to fall below analysts' consensus of $0.09.
For the year ended December 31, 1996, net sales increased 27 percent to $218.6 million from $172.8 million in 1995.
The designer, manufacturer and distributor of high-performance eyewear expects to release the remainder of its results on February 6, 1997.
Domestic net sales fell 22 percent to $19.7 million in the 1996 fourth quarter, compared with net sales of $25.3 million a year ago. For the year, domestic net sales
were $139.5 million, up 21 percent.
International net sales rose 11 percent to $19.6 million for the fourth quarter and 37 percent for the year to $79.1 million.
"The domestic holiday business for our products was disappointing, and our results have been further affected by the previously announced cancellation of orders
from Sunglass Hut International Inc ), the company's largest customer," said Link Newcomb, chief operating officer of Oakley. "In addition, our December sales
were sluggish across continental Europe, a key factor affecting the performance of our overall international net sales."
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