K Swiss Inc

K-Swiss Inc., a Chatsworth athletic shoe company, said that 1.3 million shares of its Class A common stock are being offered for sale at $24.50 a share. Of the total, 100,000 shares are being sold by the company, and 1.2 million are being sold by a group of stockholders. The underwriters of the offering, Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Inc., have a 30-day option to buy up to an additional 15,000 shares from K-Swiss and 140,000 shares from the stockholder group.

K-Swiss Inc., the Chatsworth sneaker company, narrowed its loss in the fourth quarter while its revenues fell 4%. The company posted a net loss of $946,000 in the quarter that ended Dec. 31, compared to a $4.7-million loss in the same period a year earlier. Revenues in the latest quarter were $17.7 million, down from $18.4 million. For the full year, K-Swiss saw its net income tumble 61% to $731,000, down from a $1.9 million profit in 1995. Revenues last year fell 11% to $106.

K-Swiss Inc., a Chatsworth-based producer of athletic shoes, reported a modest rise in earnings for the fourth quarter and year that ended Dec. 31. Earnings in the fourth quarter climbed to $1.49 million, up slightly from $1.48 million in the same three-month period a year earlier. Revenue in the quarter totaled $24.4 million, up 3% from $23.8 million in the same quarter of 1993. For the year, K-Swiss posted a $14.9-million profit on revenue of $155 million, compared with earnings of $12.

K-Swiss Inc. saw its net income more than double in its first quarter on a 36% increase in sales. In the quarter that ended March 31, the Chatsworth-based sneaker company posted net income of $3.6 million, compared to a profit of $1.5 million in the same period a year earlier. Sales in the latest quarter rose to $42.3 million, up from $31.2 million.

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.

K-Swiss Inc. posted a second-quarter loss and a 75% decline in its six-months profits. The Chatsworth-based sneaker company posted a loss of $731,000 in the second quarter that ended June 30, compared to a $1.5-million profit a year earlier. Revenues in the latest quarter fell 12% to $26.1 million, down from $29.7 million last year. For the six-month period, K-Swiss saw its profits slide to $1.4 million, down from a $5.5 million profit a year ago. Six-month revenues dropped 17% to $60.

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.

Athletic footwear maker K-Swiss Inc. said it would split its shares 2 for 1 and double its dividend after the company's stock price and profit surged this year. The Westlake Village-based company will split its Class A and Class B shares for investors of record Dec. 22. The annual dividend will rise to 8 cents a share, beginning with the fourth-quarter payment on Jan. 15 to shareholders of record Dec. 31.

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.

K-Swiss Inc., the sneaker maker long based in Pacoima, has moved its headquarters to bigger facilities in Chatsworth. The company also said last week that it restructured its long-term debt by paying off a $10-million note, tapping into a credit line with a much lower interest rate. Prepayment of the note to John Hancock, which was due in 1995 and had an annual interest rate of 13.7%, will enable K-Swiss to save more than $1.6 million in interest expenses, K-Swiss said.