CALIFORNIA EARNINGS
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Oakley Earnings Up: Sunglasses designer Oakley Inc. said strong global sales pushed first-quarter earnings up 67% to a record, exceeding analysts’ projections for the fifth consecutive quarter. The Foothill Ranch-based company’s strong performance came despite the rocky retail environment and consumer caution.
Net income for the three months rose to $9.1 million, or 13 cents a share, from $5.5 million, or 8 cents a share, a year earlier. Sales rose 49% to $93.8 million. Analysts were projecting earnings of 11 cents a share. Oakley’s stock, which has risen more than 96% in the last year, closed at $18.85, up 25 cents a share, on the NYSE.
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