August 1, 2008 |
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.
June 28, 2008 |
Payless ShoeSource, which last year changed its name to Collective Brands Inc., agreed to pay $30 million to rival K-Swiss Inc. to settle allegations that it violated the Westlake Village company's trademark by selling shoes with five-stripe designs. Under the deal, Payless agreed not to sell "confusingly similar" footwear, K-Swiss said in a regulatory filing. Payless, based in Topeka, Kan., will be allowed to sell its inventory of disputed shoes through the end of the year. A trial was scheduled to begin July 8 in federal court in Los Angeles.
April 30, 2008 |
Shoe retailer K-Swiss Inc. posted a sharply lower first-quarter profit as a slight rise in international sales couldn't offset a drop in domestic sales and rising costs. Net income declined 60% to $7.1 million, or 20 cents a share, from $18 million, or 51 cents, a year earlier. Sales fell 16% to $102.9 million. Analysts polled by Thomson Financial forecast a profit of 20 cents a share and sales of $101 million. Domestic revenue declined 33.6% to $41.4 million while international sales rose 2.1% to $61.5 million.
February 27, 2008 |
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. Analysts on average were expecting earnings of 4 cents a share, before special items, on revenue of $77.1 million, according to Reuters Estimates.
November 7, 2007 |
Westlake Village-based shoemaker K-Swiss Inc. said third-quarter earnings fell 39% and the company lowered its 2007 guidance. Net income fell to $12.8 million, or 36 cents a share, from $21 million, or 59 cents, a year earlier. Results included a 12-cent benefit related to overseas payroll withholding. Revenue fell 19% to $107.2 million. Excluding one-time items, analysts polled by Thomson Financial predicted a profit of 34 cents on revenue of $117.6 million.
July 28, 2006 |
K-Swiss Inc., an athletic and fashion footwear maker, said second-quarter profit rose 21% as the company tightened expenses to offset soft domestic sales. Earnings rose to $20.3 million, or 58 cents a share, from $16.8 million, or 47 cents, a year earlier. But revenue fell almost 2% to $124.2 million. The per-share profit beat Wall Street's estimate of 46 cents, but the company missed revenue expectation of $130.5 million, according to a Thomson Financial poll of analysts.