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Skechers: 3Q Earnings Snapshot

MANHATTAN BEACH, Calif. (AP) _ Skechers USA Inc. (SKX) on Tuesday reported third-quarter net income of $103.1 million.

On a per-share basis, the Manhattan Beach, California-based company said it had net income of 67 cents.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The shoe company posted revenue of $1.35 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $1.34 billion.

For the current quarter ending in December, Skechers said it expects revenue in the range of $1.23 billion to $1.25 billion.

Skechers shares have risen 66% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.02, an increase of 35% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SKX at https://www.zacks.com/ap/SKX