This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

K-Swiss Reports Third Quarter Results

K•Swiss Inc. (NASDAQ: KSWS) today announced results for the third quarter ended September 30, 2012. The operations of FORM Athletics are accounted for as a discontinued operation in the Company’s financial results and are excluded from futures orders data for the prior-year periods.

Financial Results

Net loss for the third quarter of 2012 was $1,926,000, or $0.05 per diluted share, compared with a net loss of $15,418,000, or $0.43 per diluted share, for the prior-year period. Net loss for the nine months ended September 30, 2012, was $20,263,000, or $0.57 per diluted share, compared with a net loss of $45,286,000, or $1.28 per diluted share, for the nine months ended September 30, 2011.

For the third quarter of 2012, total worldwide revenues decreased 16.0% to $67,551,000 compared with $80,456,000 in the prior-year period. Domestic revenues decreased 31.8% to $22,301,000 in the third quarter, and international revenues decreased 5.3% to $45,250,000 for the same period. Total worldwide revenues for the first nine months of 2012 decreased 16.8% to $181,621,000 from $218,194,000 for the first nine months of 2011. Domestic revenues decreased 35.8% to $61,861,000 in the first nine months of 2012, and international revenues decreased 1.7% to $119,760,000.

Futures Orders

Worldwide futures orders with start ship dates from October 2012 through March 2013 decreased 8.6% to $70,003,000 at September 30, 2012, from $76,598,000 the previous year. Domestic futures orders decreased 18.6% to $21,556,000 at September 30, 2012, from $26,494,000 the previous year. International futures orders decreased 3.3% to $48,447,000 at September 30, 2012, from $50,104,000 the previous year.

Steven Nichols, Chairman of the Board and President, stated, “The third quarter results benefitted from the positive contribution from our Palladium brand as well as disciplined expense and inventory controls. While we continue to gain momentum and demonstrate product innovation with the K•Swiss brand, we have yet to convert these efforts into a sustainable futures order trend.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,088.02 +50.05 0.28%
S&P 500 2,111.76 +2.84 0.13%
NASDAQ 5,056.3740 -3.8720 -0.08%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs