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Motorola and Oakley Join Forces on Product
Development for Communication
Devices
LIBERTYVILLE, IL and FOOTHILL
RANCH, CA – January 14, 2004 – Motorola, Inc. (NYSE:MOT) and Oakley,
Inc. (NYSE:OO) today announced a joint venture to introduce new and exciting
Bluetooth™-enabled wearable wireless communications
devices.
Motorola is collaborating with Oakley
– the leader in eyewear design, technology and innovation – to fuse
Motorola’s latest Bluetooth technology with Oakley’s advanced
eyewear concepts. Details and designs are set to be unveiled by mid-2005.
Company executives said their mutual objective is to deliver evolutionary and
innovative products for consumers who want hands-free, untethered operation of
their electronic devices.
“Motorola’s continuing leadership
in Bluetooth technology has opened up unique relationship opportunities with key
lifestyle brands such as Oakley,” said Bruce Hawver, Companion Products
Group vice president and general manager, Motorola. “That’s the
power of our joint venture – it allows us to reach out to new and
different types of users of the technology – enabling seamlessly mobile
wireless communications anywhere and everywhere consumers want to
be.”
“By teaming with Motorola,
we’re dramatically expanding the possibilities for our new electronics
category,” said Cos Lykos, Vice President of Business Development.
“Oakley’s engineering team now has an expanded technology arsenal to
develop new and innovative electronic products.”
About
Motorola
Motorola is a Fortune 100 global
communications leader that provides seamless mobility products and solutions
across broadband, embedded systems and wireless networks. In your home, auto,
workplace, and all spaces in between, seamless mobility means you can reach the
people, things and information you need, anywhere, anytime. Seamless mobility
harnesses the power of technology convergence and enables smarter, faster,
cost-effective and flexible communication. Motorola had sales of US$27.1
billion in 2003. For more information: www.motorola.com.
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.
Oakley
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 development, launch and sale of products
developed under joint ventures; 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.
# #
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Media
Contacts:
Shannon
Swallow
Motorola, Inc.
Director, Global Consumer
PR
(847) 668 7086
shannons@motorola.com
Gar
Jackson
Oakley,
Inc.
Director Investor
Relations
(949) 672-6985
gjackson@oakley.com
MOTOROLA
and the Stylized M Logo are registered in the US Patent & Trademark Office.
All other product or service names are the property of their respective owners.
© Motorola, Inc. 2005.
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