WESTLAKE VILLAGE, Calif.–Tennis shoe manufacturer Kswiss Inc. today reported losses for the fourth quarter of 2012 and for the entire year, although they were not as severe as the year before.
The company said in an earnings statement issued from its Westlake Village headquarters that it recorded a net loss of $14.5 million, or 41 cents per diluted share, in the fourth quarter, compared with a loss of $25.1
million, or 71 cents per share, in the previous fourth quarter.
The net loss for the year ended Dec. 31, 2012, was $34.7 million, or 98 cents per diluted share, compared with a loss of $70.4 million, or $1.98 per share, for the year ended December 31, 2011, the statement said.
The company said its total worldwide revenues decreased 17 percent last year, but orders for goods to be shipped from January through next June were up 4.6 percent.
Kswiss is to be acquired E.Land World during this year’s second quarter.