Shoe producer Steven Madden Ltd on Tuesday reported a 16.8 per cent year-on-year jump in third quarter net income on the back of surging sales and lifted its outlook for the fiscal year.

The New York-based company posted net income of $6.3 million, or 46 cents a share, compared with $5.4m, or 41 cents a share, in the year-ago period.

Net sales rocketed 32.4 per cent to $93m from $70.2m last year amid strong sales of its men's lines. It added it now sees full-year earnings per share in the range of $1.38 to $1.42, compared to its original outlook of $1.33 to $1.38.

Third quarter revenues from its wholesale business, comprised of its five brands, Steve Madden Womens, Steve Madden Mens, Stevies, lei, and David Aaron, surged 40.8 per cent to $70.7m from $50.3m in 2001.

Madden attributed that jump to "significant revenue growth" across the five brands with "the most notable strength exhibited by a 360.1 per cent improvement in Steve Madden Men's and a 19.2 per cent increase in Steve Madden Women's, the company's core flagship brand".

Retail revenues for the quarter increased 11.5 per cent to $22.3m from $20m last year despite "a challenging back-to-school period and a late-breaking Fall season". Same-store sales rose 1.3 per cent versus a 6.4 per cent slide in the prior year period.

CFO Arvind Dharia said: "Our record third quarter earnings were driven by strong top line growth coupled with sustained cost control and efficiency initiatives.

"In addition to successfully leveraging our infrastructure and generating a 230 basis point reduction in our operating expense margin, we also increased both our cash and working capital positions, thereby strengthening our debt-free balance sheet and providing the company with a great deal of financial flexibility as we continue to grow the business."