Skechers results miss estimates
From Times Wire Reports
Shoemaker Skechers USA Inc. posted second-quarter net income of $14.6 million, or 31 cents a share, compared to $14.9 million, or 32 cents, a year earlier. Revenue edged up to $354.6 million from $352.2 million.
Analysts on average expected earnings of 34 cents a share, before items, on revenue of $360.3 million, according to Reuters Estimates.
For the third quarter, the Manhattan Beach-based company said it expected earnings of 57 cents to 65 cents a share on revenue of $425 million to $440 million.
Analysts expect earnings of 66 cents a share, before items, on revenue of $447.24 million.
Shares of Skechers gained 43 cents to $23.74 before the earnings news.
