American footwear designer and developer Sketchers USA has posted record financial results for the first quarter ended March 31.

Net sales for the first quarter rose 12% to $277.6 million compared with $246.2 million for the first quarter of 2005. Net earnings reached $16.6 million versus $10.3 million for the same period in the previous year.

Gross profit for the first quarter of 2006 was $118.4 million compared with $100.4 million for the first quarter of last year.

The company now expects second quarter 2006 net sales to be in the range of $295 million to $305 million.