Branded consumer and sports products and footwear company K2 Inc. has reported net sales of $372.7 million for its first quarter ended March 31 compared with $348.1 million in the prior year, an increase of 7.1%. Adjusted net income for the first quarter of 2007 was $7.1 million compared with $5 million in 2006.

According to president and chief executive officer, Wayne Merck, the increase was mainly attributable to growth in sales within the Marine and Outdoor and Apparel and Footwear segments.

Apparel and Footwear net sales reached $39.8 million in the first quarter, an increase of 9.6%, as a result of increased sales of Marmot winter outerwear and Ex Officio spring apparel products, offset by declines in sales of skateboard shoes and apparel.

For the full year, the company forecasts net sales in the range of $1.46 billion to $1.51 billion with a significant increase in apparel and footwear sales expected.