K-Swiss Narrows Loss, but Income Falls 61% in ’96
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K-Swiss Inc., the Chatsworth sneaker company, narrowed its loss in the fourth quarter while its revenues fell 4%.
The company posted a net loss of $946,000 in the quarter that ended Dec. 31, compared to a $4.7-million loss in the same period a year earlier. Revenues in the latest quarter were $17.7 million, down from $18.4 million.
For the full year, K-Swiss saw its net income tumble 61% to $731,000, down from a $1.9 million profit in 1995. Revenues last year fell 11% to $106.8 million, compared to $120.3 million in 1995.
Much of the company’s slide can be attributed to a $13-million drop in its domestic sales last year, while its international sales fell 1% in 1996.
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