MANHATTAN BEACH, Calif. (AP) _ Skechers USA Inc. (SKX) on Thursday reported fourth-quarter net income of $53.3 million.
The Manhattan Beach, California-based company said it had net income of 34 cents per share. Earnings, adjusted for pretax gains, came to 24 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The shoe company posted revenue of $1.32 billion in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $1.31 billion.
For the year, the company reported profit of $98.6 million, or 64 cents per share. Revenue was reported as $4.6 billion.
Skechers shares have risen 3.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.18, a decrease of nearly 3% in the last 12 months.