K-Swiss Loss Widens as Backlog Slows
The Q4 net loss increased by 22% to $25,185,000 from a loss of $20,635,000 despite 18% growth in the top line to $50,163,000 from $42,574,000 for the period ended Dec. 31. Results in 2010 included $7.9 million in taxes paid as the result of a valuation allowance against its deferred tax assets. Results this year included a $2.9 million impairment charge on the decline in its stock price and a $311,000 loss from the discontinued FORM business. Gross margins slid 680 b.p. in Q4 to 25.6%. Domestic revenues were up 10% in Q4 to $20.4 million while international revenues rose ... Log in to view full article.