K•Swiss Inc. (NASDAQ: KSWS) today announced results for the second quarter ended June 30, 2011.
Net loss for the second quarter of 2011 was $20,026,000, or $0.56 per diluted share, compared with a net loss of $14,545,000, or $0.41 per diluted share, for the prior-year period. Net loss for the six months ended June 30, 2011, was $29,868,000, or $0.84 per diluted share, compared with a net loss of $19,243,000, or $0.55 per diluted share, for the six months ended June 30, 2010.
For the second quarter of 2011, total worldwide revenues increased 40.0% to $65,542,000 from $46,831,000 in the prior-year period. Domestic revenues increased 43.5% to $32,576,000 in the second quarter, and international revenues increased 36.6% to $32,966,000 for the same period. Total worldwide revenues for the first six months of 2011 increased 22.6% to $138,162,000 from $112,701,000 for the first six months of 2010. Domestic revenues increased 37.3% to $64,035,000 in the first half of 2011, and international revenues increased 12.2% to $74,127,000.Futures Orders Worldwide futures orders with start ship dates from July through December 2011 increased 39.2% to $89,915,000 at June 30, 2011. Domestic futures orders increased 47.9% to $37,016,000 at June 30, 2011, from $25,034,000 the previous year. International futures orders increased 33.7% to $52,899,000 at June 30, 2011, from $39,567,000 the previous year. Steven Nichols, Chairman of the Board and President, stated, “We are encouraged by what we see with increases in revenues and backlog and growth of our Performance category. The crucial selling season for K•Swiss and Palladium brands is starting shortly. That will reveal how our marketing efforts and products perform.” 2011 Guidance For 2011, the Company expects full year consolidated revenues to be 25% to 30% above 2010. Consolidated gross margin is expected to be approximately 37.5%, compared to 39.2% in 2010. Selling, general and administrative expenses are expected to be $155 million to $160 million due to continued support of the Company’s marketing initiatives.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV