Skechers USA Inc. reported fourth-quarter net income of $2.2 million (5 cents per diluted share), compared with a loss of $12.3 million (33 cents) in the year-ago period. Sales rose to $206.5 million from $175.3 million in the year-ago period.
The Manhattan Beach-based footwear makers cited rising sales of inline products and fewer markdowns as reasons for the improved results.
For the first quarter, the company said it expects sales to range from $235 million to $245 million and diluted earnings per share to range from 21 cents to 26 cents.
Herbalife Ltd. reported a fourth-quarter loss of $37.4 million (68 cents per diluted share), compared with earnings of $1.1 million (2 cents) for the like period a year earlier. Sales rose to $341.6 million from $300.1 million in the year-ago period.
The company attributed the loss to a $56 million for expenses related to a recapitalization of its debt. Without the charge, the company would have reported pro forma earnings of $7.4 million, it said.
Los Angeles-based Herbalife, which returned to the markets as a public company in December, reported strong sales growth in Europe, North and South America and Asia/Pacific regions, with the exception of Japan, where sales declined 14.8 percent.
Cogent Systems reported fourth quarter net income of $9.9 million (11 cents per diluted share), versus net income of $9.6 million (14 cents) for the year-ago period. Revenues rose to $31.8 million from $20.5 million.
Cogent, a South Pasadena-based provider of fingerprint identification systems, said its most recent quarterly results included $1.7 million of non-cash stock-based compensation charges. Excluding the charges and imputing a standard 38 percent corporate tax rate, net income would have been $10 million, or 11 cents per share.
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