K-Swiss reports record Q2 results

29/07/2005

US-based Athletic footwear brand, K-Swiss Inc., has reported record results for the second quarter ended June 30, 2005. Net earnings increased 27.1% to $16,765,000, compared with $13,188,000 in the prior-year period. Net earnings for the six months ended June 30, 2005, increased 22.0% to $42,629,000.

For the second quarter of 2005, total worldwide revenues increased 17.2% to $126,474,000 compared with $107,904,000 in the prior-year period. Domestic revenues increased 7.5% to $95,099,000 and international revenues increased 61.7% to $31,375,000. Total worldwide revenues for the first six months increased 7.6%

Steven Nichols, chairman of the board and president, stated, "The highlights for this quarter were continued strong international operations, particularly in Europe, and better-than-expected domestic at-once sales. We are also on schedule for the launch of L.A.M.B. footwear this month in high-end boutiques and better department stores and have sustained momentum in our classics with important domestic and international customers.”

K-Swiss Inc. designs, develops and markets a range of athletic footwear for high performance sports use, fitness activities and casual wear under the K-Swiss brand. It also designs and manufactures footwear under the Royal Elastics brand.