Athletic-shoe maker K-Swiss Inc. posted a 94% drop in quarterly profit and forecast that U.S. revenue would significantly decline in the first quarter and 2008.
For the fourth quarter, the Westlake Village-based company said it earned $596,000, or 2 cents a share, compared with $10.7 million, or 30 cents, a year earlier. Revenue decreased 17% to $78.2 million, mainly because of a 35% drop in U.S. revenue. International revenue rose more than 6% to $43.9 million.
