K-Swiss reported that earnings rose about 21 percent to $20.3 million or $0.58 per share in the second quarter, beating Wall Street’s estimate of $0.46. But the company’s revenues fell short of The Street’s projections. Westlake Village-based K-Swiss reported revenues fell slightly to $124.2 million in the quarter, versus $126.5 million a year ago. K-Swiss attributed its earnings performance to belt-tightening and said that sales are expected to continue to be soft domestically. “The domestic business continues to be soft, and based on recent booking trends, indicate a more realistic timeframe for stemming the domestic downturn is now at least the second half of 2007,” said Steven Nichols, K-Swiss chairman and president in announcing the results. K-Swiss said it expects earnings in the range of $0.40 to $0.50 and revenues in the range of $119 million to $129 million for the third quarter of the year.