FOOTHILL RANCH, Calif., Nov. 15, 2004 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today released information on the media event which celebrated the launch of OAKLEY THUMP(tm), the world's first digital audio eyewear. The new invention was showcased for celebrities and select members of the press at the company's global headquarters in California. The red carpet fete was a precursor to the November 20th retail release of OAKLEY THUMP(tm), which will begin at 1:00 pm local time across the country.
"This is the most important product launch in Oakley's history," said Oakley CEO and founder Jim Jannard. "The science and art that reinvented performance eyewear is now entering the domain of personal electronics, and we believe the world-class design of OAKLEY THUMP(tm) will raise the bar with a revolution in portable music."
Attendees of the November 5th event were among the first on the planet to experience Oakley's new invention. "OAKLEY THUMP(tm) is the first practical design innovation in portable music since tethered players were introduced 25 years ago," said Jannard to a capacity crowd that included Hollywood celebrities and members of the recording industry, as well as sports personalities. Despite frequent interruption by applause from the enthusiastic crowd, Jannard was able to highlight the features that make OAKLEY THUMP(tm) so different from conventional music players. "By integrating state-of-the-art digital audio into the lightweight architecture of our premium performance eyewear, we've eliminated cords and wires, and freed people to enjoy their music in places where tethered players can be cumbersome or even dangerous," Jannard explained.
Following Jannard's presentation, attendees enjoyed a live performance by recording artists Lil Jon and the Eastside Boys, David Banner and Guerilla Black.
The November 20th product launch will be under an exclusive distribution arrangement with Circuit City Stores for the consumer electronics channel. OAKLEY THUMP(tm) will also be available at Oakley's own O Stores(r), Iacon sunglass specialty stores and through limited specialty retailers. More information about retail stores with scheduled launch events can be found at www.oakley.com/thump/launch.
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, 2004 totaled $548.9 million and generated net income of $34.8 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. Such forward-looking statements, including but not limited to growth and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond the control of the company. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "believe," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. 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 successful launch and sale of OAKLEY THUMP; the company's ability to manage rapid growth; risks related to the limited visibility of future sunglass orders associated with the company's "at once" production and fulfillment business model; 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 and licensing arrangements 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 impact 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, 2003 and other filings made periodically by the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update this forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.