<SUBMISSION>
<ACCESSION-NUMBER>0001157523-04-001020
<TYPE>8-K
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<PERIOD>20040205
<ITEMS>12
<ITEMS>7
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<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>K SWISS INC
<CIK>0000862480
<ASSIGNED-SIC>3140
<IRS-NUMBER>954265988
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
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<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-18490
<FILM-NUMBER>04568489
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>31248 OAK CREST DRIVE
<CITY>WESTLAKE VILLAGE
<STATE>CA
<ZIP>91361
<PHONE>8187065100
</BUSINESS-ADDRESS>
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<STREET1>31248 OAK CREST DR
<CITY>WESTLAKE VILLAGE
<STATE>CA
<ZIP>91361
</MAIL-ADDRESS>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>a4565850.txt
<DESCRIPTION>K-SWISS  8-K
<TEXT>


                                  UNITED STATES
                       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 5, 2004


                                  K-SWISS INC.
________________________________________________________________________________
             (Exact name of registrant as specified in its charter)

Delaware                               0-18490              95-4265988
________________________________________________________________________________
(State or other jurisdiction of      (Commission        (I.R.S. Employer
incorporation or organization)       File Number)       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.)

<PAGE>



Item 7.  Financial Statements and Exhibits.

(c)      Exhibits.

         Exhibit Number             Description of Exhibit
         ______________             ______________________

         99.1                       Press release issued February 5, 2004.


Item 12.  Results of Operations and Financial Condition.

     On February 5, 2004, K-Swiss Inc. (the "Company") issued a press release
announcing its results of operations and financial condition for the three and
twelve months ended December 31, 2003.

     A copy of the press release is attached hereto as Exhibit 99.1 and
incorporated herein by reference.

     The information in this Current Report, including Exhibit 99.1 hereto,
shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, and shall not be incorporated by reference
into any registration statement or other document pursuant to the Securities Act
of 1933, as amended.




<PAGE>




                                   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 4, 2005                  By: /s/ GEORGE POWLICK
                                            ____________________________________
                                            George Powlick,
                                            Vice President Finance and
                                            Chief Financial Officer and Director






<PAGE>


                                  EXHIBIT INDEX
                                  _____________


Exhibit                    Description
_______                    ___________

99.1                       Press Release dated February 5, 2004.




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a4565850_ex991.txt
<DESCRIPTION>K-SWISS   EXHIBIT 99.1
<TEXT>
                                                                  Exhibit 99.1

      K-Swiss Reports Record Fourth Quarter and Year-End Results

   WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Feb. 5, 2004--K-Swiss
Inc. (NASDAQ/NM:KSWS) today announced record results for the fourth
quarter and year ended December 31, 2003.

   Financial Highlights

   Net earnings and net earnings per diluted share for the fourth
quarter of 2003 increased 81.4% and 91.7%, respectively, to
$8,687,000, or $0.23 per diluted share, compared with $4,788,000, or
$0.12 per diluted share, in the prior-year period. Net earnings and
net earnings per diluted share for the year ended December 31, 2003,
increased 74.4% and 80.8%, respectively, to $50,056,000, or $1.32 per
diluted share, compared with $28,697,000, or $0.73 per diluted share,
at December 31, 2002.
   For the fourth quarter of 2003, total worldwide revenues increased
51.2% to $80,432,000 compared with $53,186,000 in the prior-year
period. Domestic revenues increased 53.2% to $68,416,000 in the fourth
quarter, and international revenues increased 40.7% to $12,016,000.
Total worldwide revenues for 2003 increased 48.2% to $429,162,000
compared with $289,593,000 in 2002. Domestic revenues increased 50.1%
to $372,443,000 in 2003, while international revenues increased 36.5%
to $56,719,000.

   Futures Orders

   Worldwide futures orders with start ship dates from January
through June 2004 increased 33.5% to $224,863,000 at December 31,
2003, compared with $168,449,000 at December 31, 2002. Domestic
futures orders increased 31.2% to $193,390,000 at December 31, 2003,
from $147,421,000 at December 31, 2002. International futures orders
increased 49.7% to $31,473,000 at December 31, 2003, from $21,028,000
the previous year.

   Stock Repurchase Program

   The Company purchased 40,000 shares of Class A Common Stock during
the fourth quarter of 2003 for a total expenditure of approximately
$760,000 as part of its stock repurchase program. There remains
authorization to repurchase $26,715,000 of stock under the Company's
existing stock repurchase programs. Since August 1996, K-Swiss has
purchased under all of its repurchase programs a total of 23.0 million
shares of Class A Common Stock for a total expenditure of $108.6
million.
   K-Swiss also issued guidance for 2004. The Company expects
revenues for the first quarter of 2004 to be approximately $142 to
$150 million and earnings per diluted share to be in the range of
$0.50 to $0.55. The Company expects full year revenues to be
approximately $490 to $510 million and expects to report full year
earnings per diluted share of approximately $1.50 to $1.65.
   The Company announced that its Board of Directors declared a 25%
increase in its quarterly cash dividend to $0.025 per diluted share.
The cash dividend, which equates to a new annualized rate of $0.10 per
diluted share compared with the previous annual rate of $0.08 per
diluted share, is payable on April 15, 2004, to shareholders of record
as of March 31, 2004.
   Commenting on the fourth quarter results and outlook for 2004,
Steven Nichols, Chairman of the Board and President, stated, "In a
year filled with as many impressive accomplishments and financial
results as 2003, none are more important to us than the measures that
gauge how well we performed for our stockholders. During 2003, we were
able to increase the cash dividend for the fourth time in five years,
repurchase over $19 million of stock and post a return on average
invested capital of approximately 31% despite nearly half of our
equity base invested in cash. The K-Swiss brand and our commitment to
its long-term health and vitality are the driving force behind every
decision we make. With the marketing campaign and product offerings we
have planned for 2004, a brighter outlook for continued improvement in
international operations due to previous investments made and
continued demand among retailers and customers for our shoes, we
believe a strong foundation has been set for another strong year for
K-Swiss and our stockholders."
   The per share results reported herein reflect the effect of the
two-for-one stock split which was distributed on December 26, 2003, to
stockholders of record on December 22, 2003. Discontinued operations
are comprised of the results of the National Geographic brand.

   Investor Conference Call and Web Simulcast

   K-Swiss will conduct a conference call on its fourth quarter 2003
earnings release on February 5, 2004, at 10:00 am EST. The number to
call for this interactive teleconference is (913) 981-5508. A replay
of this conference call will be available until February 12, 2004, by
dialing (719) 457-0820 and entering the passcode, 636996.
   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.fulldisclosure.com on February 5, 2004,
beginning at 10:00 a.m. EST. The online replay will follow shortly
after the call and continue through February 19, 2004.
   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 training shoe and new Limited Edition
lines, and Royal Elastics brand, market acceptance of the Company's
casual product in Europe, 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, 2003, 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 "future" 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)
                               2003      2002      2003      2002
                             --------  --------  --------  --------
Revenues                      $80,432   $53,186  $429,162  $289,593
Cost of goods sold             45,436    29,693   235,603   159,026
                             --------  --------  --------  --------
  Gross profit                 34,996    23,493   193,559   130,567
Selling, general and
 administrative expenses       23,542    15,199   106,267    79,258
                             --------  --------  --------  --------
  Operating profit             11,454     8,294    87,292    51,309
Interest income, net              248       347       699     1,058
                             --------  --------  --------  --------
  Earnings from continuing
   operations before
   income taxes                11,702     8,641    87,991    52,367
Income tax expense              4,140     3,270    34,199    20,554
                             --------  --------  --------  --------
  Earnings from continuing
   operations                   7,562     5,371    53,792    31,813
Income/(loss) from
 discontinued operations        1,125      (583)   (3,736)   (3,116)
                             --------  --------  --------  --------
  Net earnings                 $8,687    $4,788   $50,056   $28,697
                             ========  ========  ========  ========
Basic earnings per share        $0.25     $0.13     $1.41     $0.78
                             ========  ========  ========  ========
Diluted earnings per share      $0.23     $0.12     $1.32     $0.73
                             ========  ========  ========  ========
Weighted average number of
 shares outstanding
  Basic                        35,345    36,281    35,396    36,700
  Diluted                      37,925    38,719    37,913    39,415


                 K-Swiss Inc. Condensed Balance Sheets
                            (In thousands)

                                                    December 31,
                                                   2003      2002
                                                 --------  --------
                                ASSETS
CURRENT ASSETS
Cash and cash equivalents                         $81,455   $67,593
Accounts receivable, net                           51,006    37,048
Inventories                                        73,660    53,227
Prepaid expenses and other                          4,760     3,497
Deferred taxes                                      3,014     2,428
                                                 --------  --------
    Total current assets                          213,895   163,793
PROPERTY, PLANT AND EQUIPMENT, NET                  8,596     8,444
OTHER ASSETS
Intangible assets                                   7,301     8,107
Other                                               4,838     3,539
                                                 --------  --------
                                                   12,139    11,646
                                                 --------  --------
                                                 $234,630  $183,883
                                                 ========  ========

                 LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Bank lines of credit                                  $--       $--
Trade accounts payable                             19,447    13,936
Accrued liabilities                                17,062    16,939
                                                 --------  --------
    Total current liabilities                      36,509    30,875
OTHER LIABILITIES                                  15,234     7,408
DEFERRED TAXES                                      3,360     5,807
STOCKHOLDERS' EQUITY                              179,527   139,793
                                                 --------  --------
                                                 $234,630  $183,883
                                                 ========  ========


    CONTACT: K-Swiss Inc., Westlake Village
             George Powlick, 818-706-5100





</TEXT>
</DOCUMENT>
</SUBMISSION>
