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Earnings Roundup

K-Swiss gains on settlement

August 01, 2008|From Times Wire Services

Shoe retailer K-Swiss Inc. of Westlake Village posted a second-quarter profit of $26.4 million, or 75 cents a share, including a gain of 52 cents a share from a legal settlement. It earned $7.7 million, or 22 cents, a year earlier.

In June the company said it received $30 million from rival Payless Shoesource as part of a lawsuit settlement.

K-Swiss reported a 17% decline in revenue to $85.2 million.

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