Dress shirt maker Phillips Van-Heusen Corp (PVH) on Wednesday completed its $430 million acquisition of Calvin Klein Inc and said it expects it to eat into 2003 earnings, before boosting 2004 results. The New York-based company said in news release it expects 2003 earnings from operations of $1 a share, due to normal transition costs, and expects earnings per share to grow 15 to 20 per cent annually in 2004 and beyond.