FOOTHILL RANCH, Calif., Jan. 12, 2004 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced that it has entered into a business arrangement with The Orvis Company for the production of eight custom polarized eyewear pieces. The polarized pieces will include the Half-Jacket(r) and Half-Jacket(r) three lens array, two models of Big Square Wire(r), two models of the Twenty and two models of the Straight Jacket(r). Each eyewear piece will have 'Orvis' laser etched on the sunglass lens.
"I don't think any company in the world understands better than Orvis the nuances of polarizing technology for technical fly fishing. On any given day in the summer, we have over 1,000 Orvis-endorsed guides, a roving pro staff, on the water helping clientele spot fish. Oakley has firmly established themselves as the technology leader in eyewear from all the important angles - visual acuity, ergonomics and style. Oakley has been awesome to work with in our quest for perfection in angling eyewear. We both insist on the best and with our knowledge of the angler's needs and their proficiency in technology, customers will get the best ... fish will never look so good," commented Perk Perkins, Chief Executive Officer of The Orvis Company.
"Oakley has been the top-rated polarized eyewear manufacturer for the past two years according to results published in Private Pilot magazine. This arrangement with Orvis will introduce our patented optics to fishing enthusiasts who will have the greatest appreciation for our patented eyewear technologies," commented Colin Baden, President of Oakley.
Initially these polarized eyewear pieces will be featured exclusively in over 1.5 million Orvis spring catalogs that drop nationally in January with similar drops in both February and March.
About The Orvis Company, Inc.
Founded by Charles F. Orvis in Manchester, Vermont in 1856, The Orvis Company specializes in fine quality fly-fishing tackle, wingshooting clothing and shotguns, traditional country clothing, artwork and unique gifts. As the country's oldest mail-order company, Orvis pre-dates Sears and is the oldest fishing rod manufacturer in the world. The company mailed over fifty million catalogs in 2002. Orvis originally made and sold fly-fishing rods, later branching into reels, flies and other tackle. Today, Orvis operates 29 stores in the Unites States and 12 in the United Kingdom and its worldwide presence includes a network of 650 dealers combined in the U.S. and 33 countries.
About Oakley, Inc.
Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading, premium sunglasses, the company also offers an expanding line of premium performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 100 countries. Trailing-12-month revenues through September 30, 2003 totaled $502.9 million and generated net income of $37.3 million. Oakley, Inc. press releases, SEC filings and the company's Annual Report are available at no charge through the company's Web site at, www.oakley.com .
Safe Harbor Disclaimer
This press release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: risks related to the company's ability to manage rapid growth; the ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the ability of those manufacturing partners and the company's internal production operations to increase production volumes on raw materials and finished goods in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its retail customers; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on eyewear sales to Sunglass Hut which is owned by a major competitor and, accordingly, could materially alter or terminate its relationship with the company; the company's ability to expand distribution channels and its own retail operations in a timely manner; unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction in the rate of reorders placed by retailers; continued weakness of economic conditions could continue to reduce or further reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; further terrorist acts, or the threat thereof, could continue to adversely affect consumer confidence and spending, could interrupt production and distribution of product and raw materials and could, as a result, adversely affect the company's operations and financial performance; the ability of the company to integrate acquisitions without adversely affecting operations; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of the company's new products and changes in consumer preferences; reductions in sales of products, either as the result of economic or other conditions or reduced consumer acceptance of a product, could result in a buildup of inventory; the ability to source raw materials and finished products at favorable prices to the company; the potential effect of periodic power crises on the company's operations including temporary blackouts at the company's facilities; foreign currency exchange rate fluctuations; earthquakes or other natural disasters concentrated in Southern California where substantially all of the companies operations are based; the company's ability to identify and execute successfully cost control initiatives; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K for the year ended December 31, 2002 and other filings made periodically by the company. The company undertakes no obligation to update this forward-looking information.