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Tuesday, Apr 23, 2024
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K-Swiss reports improved international operations, weak domestic sales

K-Swiss Inc., the Westlake Village-based designer and developer of sports apparel and footwear, reported improved results for the third quarter, but still ended the period with a loss due to weak domestic sales. The company had a net loss $15.4 million, or 43 cents per diluted share, a 46 percent decrease from the $28.3 million loss for the year-ago period. Worldwide revenues grew 31 percent to $80.5 million from $61.5 million in the year-ago quarter. International grew by 39 percent to $47.8 million. Orders for deliveries through March also increased, growing 11 percent to $50.1 million. Although domestic revenues rose in the third quarter, increasing 31 percent to $32.7 million, future orders for domestic delivery slid 24 percent to $26.5 percent. Steven Nichols, president and CEO said domestic sales will have to grow for the company to return to profitability.

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