US-based designer and developer of athletic footwear K-Swiss Inc has reported lower earnings of $10.67 million for the fourth quarter ended December 31. This compares with $11.557 million reported in the comparable prior-year period. For the full year, net earnings increased 2.1% to reach $76.864 million, compared with $75.248 million.

Although worldwide revenues for the fourth quarter increased 1.7% to $93.833 million, domestic revenues decreased 18.4% to $52.492 million. For 2006, total worldwide revenues decreased 1.5% to $501.148 billion compared with $508.574 billion in 2005. Domestic revenues decreased 16.2% to $318.687 billion.

Commenting on the results, Steven Nichols, chairman and president, stated, "The fourth quarter results were in line with our previously announced expectations for a continued decline in the domestic business offset by robust growth in international sales.“

K-Swiss designs, develops and markets athletic footwear for high performance sports use, fitness activities and casual wear under the K-Swiss and Royal Elastics brands.