ORANGE COUNTY EARNINGS

Oakley Inc.: The Foothill Ranch sunglass and athletic equipment maker said second-quarter profits jumped 27%, to a record $11.2 million, or 16 cents a share, from $8.8 million, or 13 cents a share, for the comparable 1997 quarter. Sales grew 27% to $70 million from $55.2 million. Net income for the first half increased 33% to $12.5 million, or 18 cents a share, from $9.4 million, or 13 cents a share, for the first six months of 1997. Sales were up 24% to $111 million from $89.6 million.