K-Swiss Inc. posted a wider first-quarter loss Thursday on an 11 percent decline in revenues.
The firm’s net loss totaled $4.7 million, or 13 cents a share — though a penny ahead of analyst estimates — compared with a loss of $1.1 million, or 3 cents, a year ago.
Net revenues slipped to $65.9 million from $74 million.
Future orders with ship dates through September fell nearly 2 percent, the company said.
The Westlake Village, Calif.-based company added that one of its factories in Thailand that makes canvas product has closed. The firm has two other factories, but said it will not be able to fulfill orders for about 700,000 pairs of shoes expected to be produced in the second and third quarters, which could reduce revenues by $5 million. K-Swiss is looking to get production capacity in other factories.
“While the unexpected short-term loss of capacity in Thailand is disappointing and has cost us some important business, we are continuing to make inroads in running and tennis with product innovations and marketing efforts,” Steven Nichols, chairman and president, said in a written statement. “This is a pivotal year for us as we continue to invest for success in 2011 and beyond, and I’m pleased with how we have begun the year in positioning K-Swiss as the California sports company.”
In all, K-Swiss said it expects full-year revenues to fall 5 percent to 10 percent.