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Skechers expects better results for fourth quarter & FY 2005

Feb '06
Lifestyle footwear maker Skechers USA Inc expects fourth quarter 2005 revenues to be in the range of $220-$223 million, above the high-end of company's previous guidance of $210-$220 million, and $1.003-$1.006 billion for the full year.

The company now anticipates diluted earnings per share to be $0.12-$0.14 for the fourth quarter, and $1.04-$1.06 for the full year, exceeding First Call Consensus of $0.06 and $0.98 for the fourth quarter and the full year, respectively. Its previous guidance for the fourth quarter was $0.02-$0.07.

Robert Greenberg, Chief Executive Officer of Skechers said, "We are excited about our better-than-anticipated results for the fourth quarter and our expected billion dollar-plus net sales for the full year, and that we have achieved these sales gains with increased profitability."

"We believe we will continue this momentum into 2006 based on our key indicators -- including the great customer reaction during our January pre-line reviews and positive comp sales in our own retail stores last month. We are looking forward to WSA's The Shoe Show in Las Vegas this weekend as well as the upcoming trade show season, and our continued success in 2006," Greenberg added.

The company's discussion of fourth quarter and fiscal year 2005 financial and operating results is based upon preliminary information and is subject to change based upon actual financial and operating results for the period.

Skechers USA Inc, based in Manhattan Beach, Calif., designs, develops and markets a diverse range of footwear for men, women and children under 14 unique brand names.

Skechers footwear is available in the US via department and specialty stores, company-owned Skechers retail stores and its e-commerce website, as well as in over 100 countries and territories through the company's global network of distributors and Canadian and European subsidiaries.

Skechers USA Inc

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