Swiss Army Brands
reported fourth-quarter earnings Friday below its year-ago results and said the decrease was due to a substantial rise in marketing and advertising costs coupled with disappointing retail watch sales.
For its fourth quarter ending Dec. 31, Swiss Army earned $793,000, or 10 cents a share, down from $1.8 million, or 23 cents a share, in the same period a year ago.
The pocketknife and watch maker, which is based in Shelton, Conn., posted fourth-quarter revenue of $44.4 million, up from $42.6 million, in the year-ago period. Swiss Army cited a sales increase of its Victorinox products, an increase in royalty revenues and strong sales to corporate markets as factors in the gain.
Shares of Swiss Army fell 28 cents, or 4.4%, to $6.19 in recent