Key Developments For K Swiss Inc
K Swiss Inc (KSWS.O) (Nasdaq)
K-Swiss, Inc. Announces $70 Million Stock Repurchase Authorization
K-Swiss, Inc. announced that its Board of Directors authorized a new stock repurchase program for the Company to repurchase up to $70 million of the Company's Class A Common Stock. This program replaces the Company's existing 2004 stock repurchase authorization for up to 5,000,000 shares that expires on December 31, 2009. Under the new stock repurchase program, the Company may purchase through December 31, 2014, as market conditions warrant and from time to time on the open market or otherwise, up to $70 million of its Class A Common Stock.
K-Swiss, Inc. Reaffirms FY 2009 EPS Guidance; Raises FY 2009 Revenue Guidance
K-Swiss, Inc. revised its fiscal 2009 guidance and expects revenues to be approximately $230-$240 million and loss per diluted share of approximately $0.70-$0.90. According to Reuters Estimates, analysts were expecting the Company to report EPS of $(0.85) on revenue of $225 million for the same period.
K-Swiss, Inc. Raises Low End Of Prior FY 2009 Revenue Guidance; Lowers High End Of Prior FY 2009 EPS Guidance
K-Swiss, Inc. announced that for fiscal 2009, it expects revenues to be approximately $215-$230 million and loss per diluted share of approximately $0.70-$0.90. According to Reuters Estimates, analysts were expecting the Company to report revenues of $219 million and EPS of $(0.77) for the same period.
K-Swiss, Inc. To Acquire Remaining Interest In Palladium SAS
K-Swiss, Inc. announced that it has signed a definitive agreement to acquire the remaining 43% equity interest in Palladium SAS for EUR5.0 million in cash plus a potential earn out based on Palladium's EBITDA for 2012.
K-Swiss, Inc. Lowers FY 2009 Guidance
K-Swiss, Inc. announced that it has updated fiscal 2009 guidance and currently expects revenue to be in the range of $200 million to $230 million and loss per diluted share in the range of $0.60 to $0.90. According to Reuters Estimates, analysts are expecting the Company to report revenue of $230 million and EPS of $(0.55) for fiscal 2009.
