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Non-Tech : OAKLEY- NYSE:OO
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To: Trey Yon who wrote (968)8/18/1997 7:59:00 PM
From: David Naggar   of 1383
 
Trey,

The shoe project is already part of the 1997 R & D budget so it shouldn't have a Fy-97 impact. As to Fy-98, I don't know. I think OO is attempting to lead everyone into inferring that it will have a positive impact, though as always, they are not being exactly forthcoming, and this may be a ploy.

The big problem for share owners is that this uncertainly will lead analysts to shy away from changing the current hold recommendation.

For all,

Rays quarterly earnings and conference call will occur this Thursday. If they provide good news re the sell through of Oakley sunglasses, the market will react accordingly. In any event, the OO dice will probably get spun.

David
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