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Skechers: 4Q Earnings Snapshot

February 6, 2020 GMT

MANHATTAN BEACH, Calif. (AP) _ Skechers USA Inc. (SKX) on Thursday reported fourth-quarter profit of $59.5 million.

The Manhattan Beach, California-based company said it had net income of 39 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 39 cents per share.

The shoe company posted revenue of $1.33 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $1.25 billion.

For the year, the company reported profit of $346.6 million, or $2.25 per share. Revenue was reported as $5.22 billion.

For the current quarter ending in April, Skechers expects its per-share earnings to range from 70 cents to 75 cents.

The company said it expects revenue in the range of $1.4 billion to $1.43 billion for the fiscal first quarter.

Skechers shares have declined 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.97, a rise of 37% in the last 12 months.

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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