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Sola releases year-end results

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SUNNYVALE, Calif. — Sola International Inc. (NYSE: SOL) today announced that fiscal year 2001 fourth quarter sales were $141.3 million compared with $138.1 million in the same quarter the previous year, an increase of 2.4%. On a constant currency basis, consolidated net sales increased 7.1%, with sales in North America, Europe and the rest of the world increasing 2%, 14.5% and 4.6%, respectively.

Net income in the quarter, excluding special charges, inventory writedowns and transition costs, was $7.2 million, or $0.30 per diluted share, compared with net income, excluding special charges, of $4.3 million, or $0.17 per diluted share, in the same quarter the previous year. The net loss in the quarter, including special charges and transition costs, was $2.4 million, or $0.10 per diluted share, compared with a net loss, including special charges, of $15.1 million, or $0.61 per diluted share in the fourth quarter of fiscal 2000.

Net sales for fiscal year 2001 were $545.4 million, compared with $543.4 million in fiscal 2000, an increase of 0.4%. On a constant currency basis, consolidated net sales in fiscal 2001 increased 5.5%.

For additional information, visit Sola's Web site at www.sola.com.