Footwear maker K-Swiss Inc has announced results for the first quarter ended March 31st 2006.
The net earnings and net earnings per diluted share for the first quarter of 2006 decreased 3.7 percent and 2.8 percent, respectively, to $24,910,000, or $0.70 per diluted share, compared with $25,864,000, or $0.72 per diluted share, in the prior-year period.
For the first quarter of 2006, total worldwide revenues decreased 2.1 percent to $149,984,000 compared with $153,143,000 in the prior-year period. Domestic revenues decreased 12.1 percent to $103,384,000 in the first quarter, and international revenues increased 31.1 percent to $46,600,000.
Worldwide futures orders with start ship dates from April through September decreased 1.2 percent to $214,723,000 at March 31st 2006, compared with $217,396,000 at March 31, 2005.
Domestic futures orders decreased 15.9 percent to $142,770,000 at March 31st 2006, from $169,749,000 at March 31st 2005. International futures orders increased 51.0 percent to $71,953,000 at March 31st 2006, from $47,647,000 the previous year.
The company purchased 10,000 shares of Class A Common Stock during the first quarter of 2006 for a total expenditure of approximately $289,000 as part of its stock repurchase program.
K-Swiss also issued guidance for the second quarter of 2006 and for 2006. It expects revenues for the second quarter of 2006 to be approx. $125 to $135 million and earnings per diluted share to be in the range of $0.43 to $0.51. It expects full year revenues to be approx. $460 to $480 million and expects to report full year earnings per diluted share of approx. $1.55 to $1.70.
marketing@alchempro.com
