Oakley is predicting a double-digit growth in 2007, after net yearly profit fell in 2006 as costs from acquisition activity and restructuring parts of the business took their toll.
The company's preliminary unaudited results for the year ending December 31 showed that Oakley had generated net sales of $761.9m, an increase of 17.5 per cent from $648.1 million in the prior year.
However, yearly profit dropped around 25 per cent to $44.8m, or 65 cents per share, from $59.7m, or 88 cents per share, on 2005. '2006 was a year of strategic re-alignment for Oakley,' said CEO Scott Olivet. 'We concentrated our efforts on five key strategies announced at the beginning of the year - focus on optics, enhance brand development, restructure footwear, re-align apparel and expand our retail platforms.'
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