Sunglasses maker Oakley Inc. raised 2005 expectations after reporting sales and profit gains in the first quarter Wednesday afternoon.
Sales of the Foothill Ranch-based company’s digital music-playing Thump sunglasses, glasses for the military and new clothing and accessories keyed the quarterly gains.
Oakley said its first-quarter sales grew 10% to $142 million, versus a year earlier. Operating profit rose 64% to $11 million.
The results beat Wall Street expectations. Shares of the company were up 7% to $13.4 in after-hours trading.
The company now expects to post sales for the year in the top end of its 10% to 15% forecast. Earnings are seen rising at the high end of its 15% to 20% projection.
Oakley said its music players and other electronics unit should help sales this year. Revenue from sales to the military also is expected to rise.
The company has been pushing newer products,shoes, clothes, prescription glasses and watches,with some hits and some misses. Sales of the newer products were up 16% in the quarter and accounted for 47% of Oakley’s total sales.
Meanwhile, Oakley said its Iacon Inc. unit bought five Optica stores, one each in Boston, Puerto Rico and at South Coast Plaza in Costa Mesa, and two in Las Vegas.
Oakley said it operated 37 stores under the O Store name and 84 Iacon stores at the end of the quarter.
