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K-SWISS REPORTS RECORD ANNUAL RESULTS

 K-SWISS REPORTS RECORD ANNUAL RESULTS
 PACOIMA, Calif., Feb. 18 /PRNewswire/ -- Steven Nichols, chairman of


the board and president of K-Swiss Inc. (NASDAQ: KSWS), announced record net earnings for the year ended Dec. 31, 1991, of $8,786,000, an increase of 21.3 percent over 1990. Revenues for the year ended Dec. 31, 1991, of $119,015,000 increased 21.5 percent over 1990. Earnings per share for the year were $1.34.
 "Futures" orders were $47,861,000 at Dec. 31, 1991, an increase of 2.4 percent compared to "futures" orders at Dec. 31, 1990. The mix of "futures" and "at once" orders can vary significantly from quarter to quarter and year to year-end and therefore, "futures" orders are not necessarily indicative of revenues for subsequent periods.
 Total debt was approximately $14,122,000 and $22,706,000 as of Dec. 31, 1991 and 1990, respectively, a decrease of $8,584,000 or 37.8 percent over Dec. 31, 1990. Total debt includes borrowings under its bank line of credit, subordinated notes and debentures and capital leases. Inventories were approximately $35,152,000 and $36,668,000 as of Dec. 31, 1991 and 1990, respectively, a decrease of 4.1 percent over Dec. 31, 1990. Accounts receivable were approximately $16,680,000 and $19,667,000 as of Dec. 31, 1991 and 1990, respectively, a decrease of 15.2 percent over Dec. 31, 1990.
 K-Swiss Inc. designs, develops and markets athletic footwear for high-performance sports use and fitness activities. The company presently offers footwear for court and nautical sports, hiking and walking.
 K-SWISS
 Financial Summary
 Year ended Dec. 31,
 (In Thousands, Except Per Share Amounts)
 1991 1990
 Revenues $119,015 $97,969
 Cost of goods sold 75,503 61,055
 Gross profit 43,512 36,914
 Selling, general and administrative
 expenses 26,726 20,650
 Operating profit 16,786 16,264
 Interest expense 2,908 3,710
 Earnings before income taxes 13,878 12,554
 Income tax expense 5,092 5,310
 Net earnings $8,786 $7,244
 Earnings per share $1.34 $1.22
 Weighted average common and common
 equivalent shares outstanding 6,551 5,945
 -0- 2/18/92
 /CONTACT: George Powlick, CFO of K-Swiss, 818-897-3433/
 (KSWS) CO: K-Swiss Inc. ST: California IN: SU: ERN


KJ-CH -- LA022 -- 0098 02/18/92 16:09 EST
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Date:Feb 18, 1992
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