International revenues decline at K-Swiss
US designer and developer of athletic footwear K-Swiss Inc. has reported a decline in earnings for its third quarter ended September 30.
Earnings totalled $20.95 million compared with $21.06 million in the prior year period. Net earnings for the nine months increased 3.9% to $66.19 million compared with $63.69 million in 2005.
For the third quarter, revenues declined 2.6% to $133.14 million compared with $136.67 million in the prior year period. Domestic revenues decreased by 21% to $81.70 million, while international revenues increased 54.9% to $51.44 million. Revenues for the first nine months decreased by 2.2% to $407.32 million compared with $416.29 in the first nine months of 2005. Domestic revenues decreased by 15.8% to $266.20 million in the first nine months, while international revenues increased by 40.9% to $141.12 million.
The company expects revenues for the fourth quarter to be approximately $90 million to $95 million and full-year revenues to be approximately $497 million to $502 million.
