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Sales rise at footwear marketer SKECHERS

Oct '05
Lifestyle footwear leader SKECHERS USA Inc reported the financial results for the third quarter ended September 30, 2005.

Net sales for the third quarter of 2005 rose 5.9 percent to $272.8 million compared to $257.7 million for the same period in 2004. Third quarter 2005 net earnings were $12.6 million versus net earnings of $6.0 million in the third quarter of the prior year.

For the third quarter 2005, the diluted earnings per share were $0.30 on 44,845,000 diluted shares outstanding compared to $0.15 per share on 43,695,000 diluted shares outstanding in the prior year.

David Weinberg, Chief Financial Officer of SKECHERS USA Inc stated that the 2005 third quarter marks the seventh consecutive quarter of year-over-year top-line increases, and the sixth consecutive quarter of year-over-year bottom-line increases, a testament to the continued strength of their brands. This strong quarter combined with record first and second quarter 2005 revenues resulted in the highest reported nine month revenues in the Company's history.

For the nine-month period ended September 30, 2005, net sales rose 9.7 percent to $783.0 million compared to net sales of $713.9 million in the first nine months of 2004. Net earnings for the first nine months of 2005 were $38.8 million versus $21.4 million in the first nine months of 2004.

Diluted earnings per share for the first nine months of 2005 were $0.92 per share on 44,459,000 diluted shares outstanding versus $0.53 per share on 43,119,000 diluted shares outstanding.

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