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Non-Tech : OAKLEY- NYSE:OO
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To: Brian C. Lund who wrote (421)5/9/1997 7:40:00 PM
From: David Naggar   of 1383
 
Welcome back Brian! You are right, OO is risky now -- But, at this point I assume you would agree that the downside (at least until next quarter's earnings) is smaller than the upside. To your questions.

1. I guess the CFO was offered a lot of control, but then Jennard couldn't let go. It was clear that OO was taking on water before the CFO got there.

2. Irrelevant

3. This point is more technical than fundamental. Everyone expects increased shipments in summer. I'm guessing, based on ramp-up, 2nd quarter is shaky and 3rd will be stronger than the currently expected .16 cents.

4. There are 10,000 X-metals being manufactured this month. Probably less than OO would like, but enough to show that the bulk of the manufacturing problem is behind them. Near term sales will be sustained (if they are sustained) by the new line of Fives, and by polarized lenses.
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