Skechers’ Net Income More Than Doubles
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Skechers USA Inc. said net earnings more than doubled on strong sales of its fashion and street-style lines of shoes and higher margins.
The Manhattan Beach-based shoe manufacturer said fourth-quarter net income rose to $5.9 million, or 14 cents a share, compared with $2.1 million, or 5 cents, in the year-earlier period.
The company said net sales grew about 8% to $223.5 million, compared with $206.5 million in the year-earlier quarter.
Skechers said it expected sales for the first quarter of 2006 in the range $270 million to $280 million, and earnings per share in the range of 29 cents to 34 cents.
Its shares rose 15 cents to $20.
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