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Skechers Jumps on Earnings Beat

Shares rise.
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Skechers (SKX) - Get Skechers U.S.A., Inc. Class A Report rose 2% Wednesday after the shoe company beat fourth-quarter earnings estimates.

The Manhattan Beach, Calif., company made $14.6 million, or 33 cents a share, for the quarter ended Dec. 31, up from the year-ago $5.9 million, or 14 cents a share. Sales rose 36% from a year ago to $304.5 million.

Analysts were looking for a 31-cent profit on sales of $298 million.

The company also guided to first-quarter earnings of 50 cents to 55 cents a share on revenue of around $330 million. Analysts were looking for a 48-cent profit on sales of $328 million.

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Shares rose 87 cents late Wednesday to $37.30.