Shares in K-Swiss Inc. tumbled more than 5 percent Friday after the company reported double-digit drops in profits and sales.

K-Swiss reported first quarter net income of $18 million (51 cents per share), a 28 percent dip from the $25 million (70 cents) it reported for the same period a year earlier. Friday’s numbers beat analysts’ estimates of 50 cents, according to a poll performed by Thomson Financial.

Sales for the Westlake Village-based shoe and apparel maker also fell 18 percent to $123 million as domestic sales plunged nearly 40 percent, the company said. Analysts were expecting $129 million.

The company added that foreign sales increased 29 percent for the quarter thanks to increased investments in overseas operations.

Shares in K-Swiss were down $1.57, or 5.1 percent, to $29.35 in afternoon trading Friday on the Nasdaq.