MANHATTAN BEACH, Calif. (AP) — MANHATTAN BEACH, Calif. (AP) — Skechers USA Inc. (SKX) on Thursday reported fourth-quarter net income of $99.3 million.
The Manhattan Beach, California-based company said it had net income of 65 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The shoe company posted revenue of $2.21 billion in the period, which matched Street forecasts.
For the year, the company reported profit of $639.5 million, or $4.16 per share. Revenue was reported as $8.97 billion.
For the current quarter ending in March, Skechers expects its per-share earnings to range from $1.10 to $1.15.
The company said it expects revenue in the range of $2.4 billion to $2.43 billion for the fiscal first quarter.
Skechers expects full-year earnings in the range of $4.30 to $4.50 per share, with revenue ranging from $9.7 billion to $9.8 billion.
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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
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