Record Q3 results at Skechers
California-based footwear designer and developer Skechers USA, Inc. has posted record financial results for the third quarter ended September 30.
Net sales for the quarter rose 21.4% to $331.1 million compared with $272.8 million for the same period in 2005. Net earnings were $22.2 million versus net earnings of $12.6 million in the third quarter of the prior year, an increase of 75.7%.
“Our third quarter 2006 sales represent the highest in the company’s 14 year history, and led to two new firsts, surpassing $300 million in net sales for a single quarter and $900 million for the first nine months,” commented chief operating officer David Weinberg.
For the nine-month period ended September 30 net sales rose 15.1% to $900.9 million compared with net sales of $783 million in the first nine months of 2005. Net earnings were $56.4 million versus $38.8 million in the prior year period, an increase of 45.3%.
The company now expects fourth quarter sales to be in the range of $255 million to $265 million. For the full year, the company expects sales to be in the range of $1.156 billion and $1.166 billion.
