U.S. Markets open in 5 hrs 43 mins

Skechers: 4Q Earnings Snapshot

MANHATTAN BEACH, Calif. (AP) _ Skechers USA Inc. (SKX) on Thursday reported fourth-quarter net income of $47.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Manhattan Beach, California-based company said it had profit of 31 cents.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The shoe company posted revenue of $1.08 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.1 billion.

For the year, the company reported profit of $301 million, or $1.92 per share. Revenue was reported as $4.64 billion.

For the current quarter ending in April, Skechers said it expects revenue in the range of $1.27 billion to $1.3 billion.

Skechers shares have climbed 21 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.70, a drop of 32 percent 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