On Feb. 22, footwear designer and marketer K-Swiss
- Total sales grew only 1.7%, thanks to a "decline in the domestic business" to the tune of 18.4%. Management sees domestic sales falling 30% for 2007. International sales improved nearly 50%, but account for less than half of total sales.
- Net income fell 9% as operating margins plummeted on the weak domestic sales trends.
- Worldwide futures orders decreased 22.5% year over year -- not good at all.
- Management is projecting first-quarter 2007 diluted EPS of $0.41-$0.51 and full-year earnings of $1.20-$1.50, for a potential year-over-year decline of 45%.
(Figures in thousands, except per-share data)
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Fool contributor Ryan Fuhrmann is long shares of Nike but has no financial interest in any other company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.