K-Swiss Reports Lower Earnings After Record Year

K-Swiss, a Westlake Village-based athletic footwear company, reported lower first-quarter earnings of $7.3 million, equal to 67 cents per diluted share, compared with $13.2 million or $1.15 per diluted share a year earlier.

Worldwide revenues dropped 19.3% to $71.4 million in the quarter ended March 31, compared with $88.5 million in last year’s first quarter. U.S. sales slowed 21.4% to $63.6 million, while international revenue increased 3.1% to $7.8 million.

By the end of the quarter, orders with beginning shipping dates between April and September totaled $89.7 million, compared with $142 million at the same point in 1999. Domestic orders decreased 39.2% to $82.1 million from $135 million, as international orders increased 8.1% to $7.5 million from $7 million.