Revenue for the Westlake Village, Calif.-based footwear company fell 16% to $102.9 million from $122.6 million a year earlier. Analysts, on average, had estimated revenue of $101 million.

For the second quarter, K-Swiss forecast earnings in the range of a loss of 5 cents to earnings of 5 cents a share on revenue of about $70 million to $80 million.

The company sees fiscal 2008 earnings of 5 cents to 25 cents a share on revenue of about $305 million to $330 million.

Analysts, on average, estimate second-quarter earnings of 4 cents a share on revenue of $79.9 million, and fiscal 2008 earnings of 26 cents a share on revenue of $328.6 million.

Shares closed Monday at $15.59. Casey Logan cl/pc

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Steven Nichols, chairman and president, said: "We have worked hard to re-establish positive trends in our domestic business through premium sports branding initiatives and the support of such innovative sports as free running. The feedback we are receiving has been favorable, but we have much work to be done to prove ourselves to customers again."

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The completely revamped Kournikova.com features Anna's personal blog, videos and photo galleries containing exclusive photos from Anna's personal collection, including behind-the-scenes photos from Anna's photo shoots and appearances.

The site also features an About Me section that provides her fans with an intimate look into both her professional history as well as current favorites, upcoming events, product recommendations, where she is and status updates sent from her mobile phone.

In addition, the more than 340,000 registered members of Kournikova.com now have their own social networking community on SportsMates.

"I am so excited to relaunch my new website," Anna Kournikova said. "I love communicating with my fans and I am looking forward to having a lot more personal interaction with them in the new Ask Anna community section of my site. It's a great way for me to keep the relationship strong and I hope they enjoy the new site as much as I do!"

"Anna has some of the most passionate fans in the world," stated Blair Cummins, CEO of SportsMates, Inc. "We're pleased to offer them a highly interactive website and social network to connect with Anna and each other."

To celebrate the relaunch of Kournikova.com, lead sponsor K-Swiss is giving fans the chance to win autographed memorabilia and a telephone call from Anna as part of the K-Swiss "Win a Call from AnnaK" Sweepstakes and Contest which begins on May 19, 2008. For more information, visit http://www.kournikova.com/win-a-call-from-annak/.

"We are excited to partner with Kournikova.com as Anna is a fantastic brand ambassador for K-Swiss with her tennis background as well as her unique perspective on women's athletic footwear and apparel," stated Jennifer Weiderman, Vice President of Marketing for K-Swiss.

K-Swiss will be hosting live online chats with Anna for the members of the social networking community on SportsMates located at http://clubs.sportsmates.com/kournikova/. The first will take place on May 31, 2008 at 3 p.m. Eastern.

About Anna Kournikova

Anna Kournikova is one of today's most recognized female professional athletes, known the world over for her illustrious tennis career. Over the course of her profession, Anna gained much success in both singles and doubles, reaching the height of her career in 1999 and 2000, where she reached #1 in the world in doubles and #8 in the world in singles in 2000. With her doubles partner, Martina Hingis, she won 2 Grand Slam titles at The Australian Open in 1999 and 2002. Anna's celebrated tennis career has transcended the sports industry and launched her into the mainstream worlds of fashion, beauty, health and fitness. Anna is currently the spokeswoman for K-Swiss and collaborates with the California-based company on tennis and lifestyle sportswear. Anna is also looked up to as a role-model, with her appeal and reputation extending far beyond the confines of the court. She is an active supporter of the Boys and Girls Club of America.

About SportsMates, Inc.

SportsMates, Inc. (http://www.sportsmatesinc.com/) operates SportsMates (http://www.sportsmates.com/), a global online social network dedicated to providing passionate sports fans a free, one-stop communications platform. The company's innovative business solutions connect fans, leagues, teams, athletes and sponsors.

SportsMates, Inc. also operates PorDeporte (http://www.pordeporte.com), a Spanish-language sports social network with over 30,000 registered members.

About K-Swiss

Located in Westlake Village, CA, K-Swiss (NASDAQ: KSWS) is a publicly traded company founded forty years ago by two Swiss brothers. The brothers, avid tennis players, introduced the first all-leather tennis sneaker, the K-Swiss "Classic" in 1966, filling a void in the market. The firm currently makes tennis, running, training, lifestyle footwear and apparel.

Contacts:

Blair Cummins
SportsMates, Inc.
Email Contact
415-898-1869

Ivy Mollenkamp
Rogers & Cowan
Email Contact
310-854-8131

SOURCE: SportsMates, Inc.

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The live broadcast of K-Swiss' quarterly conference call will be available online at www.streetevents.com and www.earnings.com on July 31, 2008, beginning at 11:00 a.m. ET. The online replay will follow shortly after the call and continue through August 8, 2008.

K-Swiss Inc. designs, develops and markets an array of athletic footwear for high performance sports use, fitness activities and casual wear under the K-Swiss brand. The Company also designs and manufactures footwear under the Royal Elastics brand. Royal Elastics, a wholly owned subsidiary, is the leading innovator of slip-on, laceless footwear.

SOURCE: K-Swiss Inc.

K-Swiss Inc.
Investor Contact
George Powlick, Chief Financial Officer, 818-706-5100
or
Corporate Communications, Inc.
Tripp Sullivan, 615-254-3376