Footwear company Skechers USA has recorded a 9.4% net sales increase to reach US$1.006bn for the 2005 financial year.

Skechers posted net earnings of $44.7m for the period - a rise of around 90% compared to last year.

Net sales for the fourth quarter of the year increased 8.2% to reach $223.5m, compared to $206.5m for the same period in 2004.

Skechers CFO Fred Schneider said: "We are very pleased with our record fourth quarter and full-year sales. Our record fourth quarter, combined with our record first and second quarters and strong third quarter, resulted in the highest annual revenues in the company's history."

Gross yearly profit for 2005 was $420.5m, compared to $370.9m in 2004, and $93.0m for the fourth quarter, compared to $82.0m during fourth quarter 2004.

Skechers chief operating officer David Weinberg added: "Our record sales and improved margins are the result of our dedicated efforts to consistently deliver trend-right styles, which has led to an increased demand for our in-season product and continued growth in our fashion and street lines.

"Our very strong finish to the year coupled with our key performance indicators, including the recent shoe show, gives us confidence that our momentum will continue in 2006. We believe that our consistent performance over the past two years and our new position as a leading billion dollar brand marks a new era for Skechers - one of increased profitability and renewed growth."

The company now expects first quarter 2006 net sales to be in the range of $270m-$280m.