K-Swiss (KSWS) slouched on disappointing financials. The Westlake Village, Calif., maker of apparel and footwear said it earned $10.7 million in the fourth quarter, or 30 cents a share, down from $11.6 million, or 33 cents a share, a year ago. Sales inched up 1.7% to $93.8 million year over year, just past the $92.3 million consensus. Income, however, missed targets by a penny.
Looking ahead, the company is pegging full-year 2007 earnings between $1.20 and $1.50 a share, a far cry from the $2.17 per-share income sought by analysts. Full-year revenue will probably range between $420 million and $460 million, nearly $40 million below the Street projection. Shares were declining $4.05, or 12.1%, to $29.44.
Emergent BioSolutions' (EBS) stock got a black eye on word the biotech company had lost a funding opportunity when the National Institute of Allergy and Infectious Diseases canceled its solicitation for bids to develop a "third-generation anthrax vaccine," to which Emergent had responded after the NIAID issued it last June. Shares were off $1.33, or 8.9%, to $13.70.
G-III Apparel (GIII) cut its revenue forecast to a range of $425 million to $428 million for the year ended Jan. 31, from the prior $430 million, just missing the only analyst's estimate of $429.8 million. The New York-based outerwear maker also reaffirmed its full-year earnings outlook of between 90 cents and 95 cents a share, which resides largely below two analysts' expectations, each of whom is looking for 94 cents a share. These numbers all represent substantial growth from 2005, but shares were losing $3.43, or 13%, to $22.94.