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K-SWISS REPORTS RECORD THIRD QUARTER EARNINGS

 K-SWISS REPORTS RECORD THIRD QUARTER EARNINGS
 PACOIMA, Calif., Oct. 28 /PRNewswire/ -- Steven Nichols, chairman


of the board and president of K-Swiss Inc. (NASDAQ: KSWS), announced record third quarter net earnings for the quarter ended Sept. 30, 1992, of $3,635,000, an increase of 6.5 percent over the quarter ended Sept. 30, 1991. Net earnings for the nine months ended Sept. 30, 1992, of $8,507,000, represented an increase of 14.0 percent over the nine months ended Sept. 30, 1991. Revenues for the quarter ended Sept. 30, 1992, decreased 2.6 percent to $37,083,000 from the quarter ended Sept. 30, 1991.
 Revenues were as follows.
 K-SWISS INC.
 (In Thousands, Except Percents)
 (Unaudited)
 Three Months Ended Sept. 30
 Increase (Decrease)
 1992 1991 Amount Percent
 Domestic $29,278 $32,378 ($3,100) (9.6 pct.)
 International 7,805 5,684 2,121 37.3 pct.
 Total revenues $37,083 $38,062 ($979) (2.6 pct.)
 Nine Months Ended Sept. 30,
 Increase
 1992 1991 Amount Percent
 Domestic $83,972 $77,963 $6,009 7.7 pct.
 International 22,658 20,872 1,786 8.6 pct.
 Total revenues $106,630 $98,835 $7,795 7.9 pct.
 Nichols noted that this is the first quarter since the company was purchased in 1986 that quarterly revenues did not exceed comparable previous years'. The decrease was a result of production sourcing problems experienced during the quarter ended Sept. 30, 1992. The company has developed and is attempting to implement a strategy to solve the production sourcing problems. "Demand for our product is strong which is reflected in our 45 percent increase in combined domestic and international futures orders at Sept. 30, 1992, compared to futures orders at Sept. 30, 1991," Nichols said.
 Domestic footwear "futures" orders with start ship dates subsequent to Sept. 30, 1992, and 1991 were approximately $47,370,000 and $32,974,000, respectively. International footwear "futures" orders with start ship dates subsequent to Sept. 30, 1992, and 1991 were approximately $10,251,000 and $6,774,000, respectively. Combined domestic and international "futures" orders were $57,621,000 at Sept. 30, 1992, an increase of 45.0 percent compared to combined "futures" at Sept. 30, 1991. The mix of "futures" and "at once" orders can vary significantly from quarter to quartd? year to year, and therefore, "futures" orders are not necessarily indicative of revenues for subsequent periods.
 The company's accounts receivable and inventories were approximately $28,621,000 and $26,315,000, respectively, as of Sept. 30, 1992.
 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 INC.
 Financial Summary
 (In Thousands, Except Per Share Amounts)
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues $37,083 $38,062 $106,630 $98,835
 Cost of
 goods sold 23,173 24,131 67,389 62,797
 Gross profit 13,910 13,931 39,241 36,038
 Selling,
 general and
 administrative
 expenses 7,937 7,818 24,899 21,631
 Operating
 profit 5,973 6,113 14,342 14,407
 Interest
 expense 468 577 1,500 1,894
 Earnings
 before
 income
 taxes 5,505 5,536 12,842 12,513
 Income tax
 expense 1,870 2,122 4,335 5,049
 Net
 earnings $3,635 $3,414 $8,507 $7,464
 Earnings
 per share $.55 $.52 $1.29 $1.14
 Weighted
 average
 common and
 common
 equivalent
 shares
 outstanding 6,569 6,562 6,581 6,567
 -0- 10/28/92
 /CONTACT: George Powlick, CFO of K-Swiss, 818-897-3433/
 (KSWS) CO: K-Swiss ST: California IN: TEX SU: ERN


KJ-LS -- LA036 -- 6191 10/28/92 16:05 EST
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Date:Oct 28, 1992
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