Foothill Ranch-based Oakley Inc. reported a big gain in second-quarter sales and upped its sales outlook for the rest of the year, the sunglasses and clothing maker said Thursday.
Oakley’s revenue for the quarter rose 29% from a year earlier to $263 million, helped by strong sales of sports glasses, clothes and at its stores.
Analysts had expected $244 million in sales on average.
Oakley earned $21.5 million in profits, in line with expectations. The figure includes a $2 million charge related to the company’s planned acquisition by Italy’s Luxottica Group SPA, announced in June.
Net income was up 20% from a year earlier.
Sales of sunglasses, prescription frames and goggles led the gain, rising 31% to $207.5 million, or 78% of sales.
For the year, Oakley said it now expects sales of $930 million to $960 million, up 22% to 26% from 2006.
Earlier, Oakley forecast 18% to 22% growth.
The company didn’t change its profit outlook and expects about $68 million in net income for the year.
The results stand to be one of the last looks at Oakley as a standalone company.
Last month, Luxottica offered $2.1 billion to buy the company in a deal set to close this quarter or next.
Oakley’s shares were flat in afterhours trading after a big runup on word of the Luxottica offer.
