UPDATE 2-K-Swiss cuts 2008 outlook, shares fall

(Recasts, adds details, analyst comments, share movement)

By Swagata Gupta

BANGALORE, April 29 (Reuters) - Athletic-shoes maker K-Swiss Inc (KSWS.O: Quote, Profile, Research) cut its 2008 earnings outlook to reflect a significant decline in revenue from the United States and slowdown of international operations, sending its shares down as much as 6 percent.

"Unfortunately, based on initial indications in our futures orders, the long-term momentum we have enjoyed internationally appears to be coming to an end," Chairman Steven Nichols said in a statement.

Worldwide futures orders with start ship dates from April through September were $128.3 million at March 31, down from $172.2 million a year ago, said the company, which sells its products under the K-Swiss and Royal Elastics brands in the United States and Europe.

Domestic futures orders decreased 47 percent to $47.2 million, while international futures orders fell 3 percent to $81.1 million.

"The company doesn't have any new product for the retailers to step up and buy," Sterne, Agee & Leach analyst Sam Poser, who has a "sell" rating on the stock, said.

The company, which sells athletic, training, and children's shoes; apparel and accessories, expects fiscal 2008 earnings of about 5 cents to 25 cents a share on revenue of about $305 million to $330 million.

It had earlier forecast earnings of about 10 cents to 35 cents a share on revenue of about $310 million to $340 million.