FOOTHILL RANCH, Calif., August 19, 2003 (PRIMEZONE) -- Oakley, Inc.'s (NYSE:OO) sunglasses have once again earned Private Pilot magazine's highest ranking in the publication's annual optical performance test of leading non-prescription sunglass brands. According to the September 2003 issue of the world's leading general aviation magazine, independent lab analysis conducted at ICS Laboratories of Ohio awarded eyewear products from Oakley the highest ranking in every sunglass performance category measured, marking the second consecutive year that Oakley has dominated the competition.
A photo accompanying this release is available at: http://media.primezone.com/prs/?pkgid=644
Several Oakley styles took top honors. In the polarized lens category, Oakley Square Wire(r) 2.0 was the top performer; Oakley Splice(tm) beat the field in the men's sport category; and Oakley's Fate(tm) earned top ranking in the women's sport category.
Robert Cochran, author of the article, noted the importance of optical performance in sunglasses: "Do optics really make a difference? For the average person, they certainly do; for pilots, they're an imperative. Anyone who drives a car or flies a plane should be aware of how ordinary sunglasses can corrupt their view of the world. What you see isn't necessarily what you get, and at 200 knots, that's not a good thing."
To conduct the tests, ICS Laboratories purchased sixty-five pairs of non-prescription sunglasses representing numerous brands, including Oakley, Maui Jim, RayBan, Vaurnet and Smith. ICS Laboratories then analyzed the randomly selected eyewear samples using a standardized testing series developed by the American National Standards Institute (ANSI). Collectively called ANSI Z87.1, the tests measure lens definition, prismatic power, refractive power, prismatic imbalance, and astigmatism caused by imperfections in lens geometries and materials. Additional analysis was performed by an independent optometrist.
The analysis clearly illustrated the wide range of optical performance characteristics consumers are confronted with among non-prescription sunglasses. When lens definition was tested, a vast disparity was immediately evident. "In simple terms, this test measures how much an inferior lens can blur an image of thin lines drawn close together and viewed at a distance," Cochran continued, "It proves that even ordinary non-prescription sunglasses can change your view, and not in a good way." Private Pilot included photos from testing that gave readers an indication of how vision - even the vision of perfect eyes - can be corrupted by inferior sunglass products.
Oakley has been awarded more than 600 patents worldwide, and many of them protect innovations in eyewear technology. The company's XYZ Optics(r) maintains clarity at all angles of view, even through the sides of Oakley's highly curved lenses, thereby maximizing peripheral vision and protection. In addition to blocking 100% of all UV radiation, Oakley Plutonite(r) is the most optically pure material used for consumer eyewear lenses. The company's polarized lenses utilize a technology that eliminates the haze and distortion of conventional polarized lenses by taking advantage of a proprietary liquid-infusion process that encapsulates and protects the polarizing filter.
ICS Laboratories, Inc. is certified through the American Association for Laboratory Accreditation. Additional computerized analysis of lens definition was conducted by Dr. Nelson Jun, O.D., a prominent California optometrist with diagnostic certification. Complete results of the tests can be found in the September 2003 issue of Private Pilot, available now on newsstands.
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 70 countries. Trailing-12-month revenues through June 30, 2003 totaled $489.9 million and generated net income of $34.2 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; the company's ability to maintain its annual dividend, which is subject to its ability to continue to generate or have access to sufficient capital in excess of its needs for operations and its growth strategies 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.