K-Swiss’ 4th-Quarter Profit Tumbles 70%

K-Swiss Inc., citing a onetime charge related to its early retirement of debt, said its fourth-quarter profit tumbled 70% from a year earlier, to $395,000 from $1.32 million.

The Chatsworth-based maker of athletic shoes said the after-tax charge in the quarter that ended Dec. 31 totaled $896,000, which reflected a penalty on its early repayment of $10 million of debt. K-Swiss’ revenue in the period rose 5%, to $21.2 million from $20.2 million.

K-Swiss’ profit for all of last year edged up 1%, to $8.90 million from $8.79 million, and its annual revenue rose 7%, to $127.8 million from $119.0 million.