Footwear designer K-Swiss Q4 earnings decline

09 Feb '06

3 min read

Steven Nichols, Chairman of the Board and President, stated, "We are pleased with the better-than-expected revenues and earnings in the fourth quarter. Despite the large one-time gain from the Jobs Creation Act tax repatriation in 2004, we were able to deliver respectable year-over-year growth on continued improvement in margins and strong international sales.

"In 2006, we do not expect as rosy an outlook as we have enjoyed of late. Based on early indications of third quarter order patterns, we expect year-over-year declines in domestic sales during the second half of the year. We are taking steps to reignite the growth in our domestic business. However, given the timing of the development cycle, the impact from these changes would not be felt until later."

K-Swiss Inc designs, develops and markets an array of athletic footwear for high performance sports use, fitness activities and casual wear under the K-Swiss brand. It also designs and manufactures footwear under the Royal Elastics brand. Royal Elastics, a wholly owned subsidiary, is the leading innovator of slip-on, laceless footwear.

K-Swiss Inc

More K-Swiss, Inc. News... More Fashion News - United States Of America...