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Skechers USA   Q4 net earnings were $29.4 million

Skechers USA Q4 net sales $722.7 million

SkechersSkechers USA announced financial results for the fourth quarter and year ended December 31, 2015.

All share and per share information has been retroactively adjusted for the three-for-one stock split that was effective on October 15, 2015.

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READ MORE Skechers Q1 net sales $546.5 million

Net sales for the fourth quarter of 2015 were $722.7 million compared to $569.7 million in the fourth quarter of 2014. Gross profit for the fourth quarter of 2015 was $329.9 million or 45.6 percent of net sales compared to $257.6 million or 45.2 percent of net sales in the fourth quarter of 2014.

Net earnings were $29.4 million compared to net earnings of $21.9 million in the fourth quarter of 2014.

Net earnings per diluted share in the fourth quarter of 2015 were $0.19 based on 154.6 million weighted average shares outstanding compared to $0.14 based on 154.1 million weighted average shares outstanding in the fourth quarter of 2014.

Annual effective tax rate for 2015 increased slightly to 21.7 percent from 21.3 percent as of September 30, 2015, which increased our fourth quarter 2015 effective tax rate to 23.9 percent and reduced our earnings per share by $0.01.

In addition, the company’s gross margins were negatively impacted by approximately $8.1 million due to negative foreign currency translations and an additional $2.0 million in other expenses related to foreign currency transaction losses during the fourth quarter of 2015.

Fiscal year 2015 net sales were a record $3.147 billion compared to net sales of $2.378 billion in 2014.

Gross profit for 2015 was $1.424 billion or 45.2 percent of net sales compared to $1.072 billion or 45.1 percent of net sales in 2014. Earnings from operations for 2015 were $350.8 million compared to $209.1 million in 2014.

Net earnings for 2015 were $231.9 million compared to $138.8 million in 2014.

Net earnings per diluted share for fiscal year 2015 were $1.50 based on 154.2 million weighted average shares outstanding compared to $0.91 based on 153.1 million weighted average shares outstanding in the prior year.




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