Net income came in at $17,342,000 against $16,072,000for the period ended Sept. 30 as total sales expanded 21% to $210,219,000versus $173,447,000. Oakley’s Q3 gross margins dipped 70 basis points to 53.8%,impacted by higher accrued sales markdowns and inventory reserves coupled withthe disposal of end-of-line products.

By category, sales of optics rose 25% to $148.8million, fueled by incremental sales from Oliver peoples and The Optical Shop ofAspen (OSA) and higher sales of sunglasses, goggles and Rx eyewear partiallyoffset by a large decline in electronics sales. Meanwhile,apparel/footwear/accessories sales grew 2.4% to $46.3 million in the period andsales of Other (non-Oakley products sold through ... Log in to view full article.