CARLSBAD, Calif.—Orange 21 (NASDAQ:ORNG), owner of the Spy Optic brand of sunglasses and goggles, have announced their financial results for the second quarter and first half of 2008 ended June 30.

Consolidated net sales increased 17 percent to $14 million for the three months. A net loss of $300,000 was incurred for compared to a net loss of $1.6 million for the same three months last year.

The company's consolidated net sales for the first half of 2008 increased 20 percent to $25.5 million. Orange 21 posted a net loss of $1.1 million for the first six months of 2008, compared to a net loss of $3.3 million for the first half of 2007.

Mark Simo, co-chairman and CEO of Orange 21, commented, “This quarter’s and year to date results have been encouraging, but still short of my goal for Spy Optic. Going into the second half of this year, we continue to be concerned by the weakness of the U.S. dollar against the Euro and the high cost of oil. For the remainder of the year, we plan to continue to focus on making our sales and marketing efforts more efficient and effective while at the same time reducing our operating expenses. Although general economic conditions appear to have impacted our business, we believe that the strength of and demand for our brand will allow us to be successful. Our goal is to continue to show revenue growth over the prior year irrespective of the current economic environment.”