Oakley raises sales outlook

Oakley has reported higher quarterly net profit, matching Wall Street estimates and boosted its sales outlook for the year, following a strong performance from its optical division.

The company, which is being acquired by Luxottica in an all-cash deal worth some $2.1bn, saw second quarter profit rise to $21.5m from $17.9m last year. Total sales rose to $263.2m from $203.6m, driven by double-digit increases in sales of sunglasses, prescription eyewear and goggles.

Oakley raised its 2007 sales outlook to a range of $930m to $960m, representing growth of 22-26 per cent from an earlier estimate of 18-22 per cent.