BOSTON (Thomson Financial) - K-Swiss Inc. Tuesday said first-quarter net
income fell to $7.1 million, or 20 cents a share, meeting the mean estimate of
analysts polled by Thomson Reuters.
In the same period a year ago, the company posted net income of $18 million,
or 51 cents a share.
Revenue for the Westlake Village, Calif.-based footwear company fell 16% to
$102.9 million from $122.6 million a year earlier. Analysts, on average, had
estimated revenue of $101 million.
For the second quarter, K-Swiss forecast earnings in the range of a loss of
5 cents to earnings of 5 cents a share on revenue of about $70 million to $80
million.
The company sees fiscal 2008 earnings of 5 cents to 25 cents a share on
revenue of about $305 million to $330 million.
Analysts, on average, estimate second-quarter earnings of 4 cents a share on
revenue of $79.9 million, and fiscal 2008 earnings of 26 cents a share on
revenue of $328.6 million.
Shares closed Monday at $15.59.
Casey Logan
cl/pc
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