UPDATE 1-K-Swiss posts narrower-than-expected Q4 loss
* Q4 loss $0.23 a shr vs est -$0.31 a shr
* Q4 revenue $42 mln vs est $36.3 mln * Sees a decline in Q1 rev
Feb 18 (Reuters) - Athletic-shoes maker K-Swiss Inc KSWS.O reported a narrower-than-expected quarterly loss, helped by cost cuts, and said it sees a fall in first-quarter revenue.
For the latest fourth quarter, K-Swiss posted a loss of $12.5 million, or 36 cents a share, compared with a loss of $13.7 million, or 39 cents a share, a year ago.
Excluding a one-time non-cash impairment charge, the company posted a loss of 23 cents a share.
Revenue at the company, which sells its products under the K-Swiss and Royal Elastics brands in the United States and Europe, fell 21 percent to $42.0 million.
Analysts were expecting a loss of 31 cents a share, on revenue of $36.3 million, according to Thomson Reuters I/B/E/S.
Selling, general and administrative expenses expenses fell 6 percent to $27.7 million.
K-Swiss, which sells athletic, training, and children's shoes, apparel and accessories, said it expects to report a decline in the first quarter revenue, a flat comparison in the second quarter and increases in the third and fourth quarters.
Shares of the Westlake Village, California-based company closed at $9.75 Wednesday on Nasdaq.
For the alerts, double-click [ID:nWNAB8742] (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy)
- Lost airliner was diverted deliberately: Malaysian PM |
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Malaysia PM says lost plane's movements indicate a deliberate act
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data