8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2008

K-SWISS INC.
(Exact name of registrant as specified in its charter)
Delaware	0-18490	95-4265988
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

31248 Oak Crest Drive, Westlake Village, CA	91361
(Address of Principal Executive Offices)	(Zip Code)
818-706-5100
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02     Results of Operations and Financial Condition.

On February 26, 2008, K-Swiss Inc. (the "Company") issued a press release announcing its results of operations and financial condition for the three months and year ended December 31, 2007. A copy of the Company’s press release is attached as Exhibit 99.1 to this report and is incorporated herein by this reference.

The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished under Item 2.02 "Results of Operations and Financial Condition." Such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference in any filing, registration statement or other document filed under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.

(d)	Exhibits.
	Exhibit Number	Description of Exhibit
	99.1	Press release issued February 26, 2008.

SIGNATURES

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 thereunto duly authorized.

		K-Swiss Inc.
Date:	February 26, 2008	By:	/s/ GEORGE POWLICK
			George Powlick,
			Vice President Finance, Chief Operating Officer, Chief Financial Officer and Director

EXHIBIT INDEX

Exhibit	Description
99.1	Press Release issued February 26, 2008.

EX-99.1

Exhibit 99.1

K•SwissReports Fourth Quarter Results

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--K•Swiss Inc. (NASDAQ: KSWS) today announced results for the fourth quarter and year ended December 31, 2007.

Financial Highlights

Net earnings and net earnings per diluted share for the fourth quarter of 2007 were $596,000, or $0.02 per diluted share, compared with $10,670,000, or $0.30 per diluted share, in the prior-year period. Net earnings and net earnings per diluted share for the year ended December 31, 2007, were $39,073,000, or $1.10 per diluted share, compared with $76,864,000, or $2.17 per diluted share, for the prior-year period. Net earnings and net earnings per diluted share for the year ended December 31, 2007, includes a third quarter 2007 one-time other income item of $5,232,000, or $0.12 per diluted share, which consists of a reversal of an estimate of the underpayment of payroll withholding liabilities in a foreign jurisdiction from January 1, 1993 through December 31, 2005.

For the fourth quarter of 2007, total worldwide revenues were $78,167,000 compared with $93,833,000 in the prior-year period. Domestic revenues decreased 34.6% to $34,311,000, and international revenues increased 6.1% to $43,856,000. Total worldwide revenues for 2007 were $410,432,000 compared with $501,148,000 in 2006. Domestic revenues decreased 36.5% to $202,375,000, while international revenues increased 14.0% to $208,057,000.

Futures Orders

Worldwide futures orders with start ship dates from January through June 2008 were $147,805,000 at December 31, 2007, compared with $168,872,000 at December 31, 2006. Domestic futures orders decreased 39.5% to $50,758,000 from $83,954,000 the previous year. International futures orders increased 14.3% to $97,047,000 from $84,918,000 the previous year.

Stock Repurchase Program

At December 31, 2007, there remains authorization to repurchase approximately 4,061,000 shares under the Company's existing stock repurchase program. Since August 1996, K•Swiss has purchased a total of 25.3 million shares of Class A Common Stock for a total expenditure of $164.6 million.

Earnings Guidance

K•Swiss also issued guidance for the first quarter of 2008 and full-year 2008. The Company expects revenues for the first quarter of 2008 to be approximately $95 to $105 million and earnings per diluted share to be in the range of $0.18 to $0.28. The Company expects full-year revenues to be approximately $310 to $340 million and expects to report full-year earnings per diluted share of approximately $0.10 to $0.35.

The Company's estimates for the first quarter of 2008 and full-year 2008 reflect a significant decline in domestic revenues; substantial investments in product development and marketing for the K•Swiss brand; continued expansion of international operations; and continued investment in the Royal Elastics brand. The estimates are based upon the following assumptions: gross margins will be approximately 47%; SG&A will not rise above $43 million for the first quarter of 2008 and $152 million for the full-year 2008; customer order cancellations will be moderate; and the Company's growth initiatives with respect to Royal Elastics will not exceed a net loss of $0.06 per share for the full year.

Steven Nichols, Chairman of the Board and President, stated, "The fourth quarter was fairly indicative of the environment in which we are operating and the long-term plan we are executing to re-establish positive trends in our domestic business and maintain momentum internationally. As expected, we invested heavily in our premium sports branding efforts, while conservatively managing our balance sheet. We have a long road ahead of us to prove to retailers and customers that K•Swiss is a fresh and exciting premium sports brand once again, but we remain committed to get there."

Investor Conference Call and Web Simulcast

K•Swiss will conduct a conference call on its fourth quarter 2007 earnings release at 11:00 a.m. ET on February 26, 2008. The number to call for this interactive teleconference is (800) 240-4186. A replay of this conference call will be available until March 4, 2008, by dialing (303) 590-3000 and entering the passcode, 11106042#.

The Company will also provide an online Web simulcast and rebroadcast of this conference call. The live broadcast of K•Swiss' quarterly conference call will be available online at www.streetevents.com and www.earnings.com today, beginning at 11:00 a.m. ET. The online replay will follow shortly after the call and continue through March 4, 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.

Certain matters discussed in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to: non-achievement of the assumptions discussed herein, general and regional economic conditions, industry trends, merchandise trends, including market acceptance of the Company's product offerings, customer demand, competition, the impact of terrorism and/or a potential global conflict on the worldwide economy, dependence on large customers and credit concentrations and order cancellations and reduced sales resulting from a slower worldwide economy. A complete description of these factors, as well as others which could affect the Company's business, is set forth in the Company's periodic filings, including its Form 10-K for the year ended December 31, 2007, which is currently on file with the SEC. "Backlog" as of any date, represents orders scheduled to be shipped within the next six months. Backlog does not include orders scheduled to be shipped on or prior to the date of determination of backlog. The mix of "futures" and "at-once" orders can vary significantly from quarter to quarter and year to year and, therefore, "futures" are not necessarily indicative of revenues for subsequent periods.

K•Swiss Inc. Consolidated Statements of Earnings (In thousands, except earnings per share data)
	Three Months Ended					Year Ended
	December 31,					December 31,
	(Unaudited)
	2007			2006		2007		2006
Revenues	$	78,167		$	93,833	$	410,432	$	501,148
Cost of goods sold		40,972			51,246		220,573		263,935
Gross profit		37,195			42,587		189,859		237,213
Selling, general and administrative expenses		40,895			32,102		157,498		137,527
Operating profit (loss)		(3,700	)		10,485		32,361		99,686
Other income		--			--		5,232		--
Interest income, net		2,418			2,073		9,594		7,005
Earnings before income taxes		(1,282	)		12,558		47,187		106,691
Income tax expense (benefit)		(1,878	)		1,888		8,114		29,827
Net earnings	$	596		$	10,670	$	39,073	$	76,864
Basic earnings per share	$	0.02		$	0.31	$	1.13	$	2.23
Diluted earnings per share	$	0.02		$	0.30	$	1.10	$	2.17
Weighted average number of shares outstanding
Basic		34,755			34,552		34,705		34,401
Diluted		35,412			35,476		35,472		35,378
K•Swiss Inc. Condensed Balance Sheets (In thousands)
						December 31,
						2007		2006
ASSETS
CURRENT ASSETS
Cash and cash equivalents						$	291,235	$	260,229
Accounts receivable, net							34,808		40,988
Inventories							63,227		59,178
Prepaid expenses and other							11,231		8,005
Deferred taxes							5,226		5,040
Total current assets							405,727		373,440
PROPERTY, PLANT AND EQUIPMENT, NET							24,100		15,831
OTHER ASSETS
Intangible assets							4,700		4,700
Deferred taxes							3,248		2,970
Other							8,578		7,619
							16,526		15,289
						$	446,353	$	404,560
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Bank lines of credit						$	--	$	--
Trade accounts payable							22,017		12,262
Accrued liabilities							28,384		36,800
Total current liabilities							50,401		49,062
OTHER LIABILITIES							11,719		9,595
STOCKHOLDERS' EQUITY							384,233		345,903
						$	446,353	$	404,560

CONTACT:
K•Swiss Inc.
George Powlick, Chief Financial Officer, 818-706-5100