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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) February 8, 1999
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K-Swiss Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-18490 95-4265988
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
31248 Oak Crest Drive, Westlake Village, California 91361
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (818) 706-5100
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Item 5. Other Events.
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On February 8, 1999, the Company's Board of Directors approved a two-for-
one stock split for both Class A and Class B common stock. This stock
split will be in the form of a 100 percent stock dividend to be
distributed on March 26, 1999 to stockholders of record at the close of
business on March 15, 1999. The Board of Directors also approved an
increase in the cash dividend per share to an annual rate, on a post-split
basis, of 6 cents per common share from an annual rate of 4 cents per
common share. A copy of the February 8, 1999 press release is attached as
Exhibit 99.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits:
99 Press release dated February 8, 1999.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
K-Swiss Inc.
Date: February 8, 1999 By: /s/ George Powlick
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George Powlick,
Vice President Finance and
Chief Financial Officer
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EXHIBIT INDEX
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Page
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Exhibit
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99 Press release dated February 8, 1999. 5
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EXHIBIT 99
Contact: George Powlick
Chief Financial Officer
(818)706-5100
K-SWISS ANNOUNCES TWO-FOR-ONE STOCK SPLIT
AND 50% INCREASE IN QUARTERLY CASH DIVIDEND
WESTLAKE VILLAGE, California (February 8, 1999) - K-Swiss Inc. (Nasdaq/NM:KSWS)
today announced that its Board of Directors has declared a two-for-one split of
the Company's Class A and Class B common stock.
On March 26, 1999, stockholders will receive one additional share of common
stock for each share of the Company's common stock they own on the record date
of March 15, 1999. The Company expects that its outstanding Class A common
stock will begin to trade on a post-split basis on March 29, 1999. Following
the effective date of the split, the Company will have approximately 10,740,000
shares of Class A and Class B outstanding.
The Board of Directors also approved an increase in the Company's cash
dividend effective with the first quarter dividend. On a post-split basis, the
cash dividend will be increased from the annual rate of $0.04 per share to $0.06
per share. The increased cash quarterly dividend of $0.015 per share will be
payable on April 15, 1999 to stockholders of record on March 31, 1999.
K-Swiss Inc. designs, develops and markets athletic footwear for high
performance sports use and fitness activities. The Company presently offers
footwear for court, casual and children's categories.
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