Phoenix Footwear Group Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended January 2, 2016. Net Sales for the fourth quarter of fiscal 2015 decreased 9.7% to $5.10 million compared to $5.65 million for the fourth quarter of fiscal 2014. The decrease in fourth quarter net sales were a result of the company's realignment of its distribution of Trotters products in a large national account, combined with shipments of an additional week in fiscal 2014. The company generated an operating Loss for the fourth quarter of $135,000 compared to operating income of $216,000 for the fourth quarter of fiscal 2014. Loss from continuing operations was $296,000 against $17,000 a year ago. Net loss was $296,000 against $17,000 a year ago. Basic loss from continuing operations per share was $0.02. Basic net loss per share was $0.02.

Net Sales for fiscal 2015 decreased 1.5% to $21.7 million from $22.0 million in fiscal 2014. The decrease in full year net sales were a result of the Company's realignment of its distribution of Trotters products in a large national account, combined with shipments of an additional week in fiscal 2014. The operating loss for the twelve months of fiscal 2015 totaled $256,000 compared to operating income of $1.1 million for the twelve months of fiscal 2014. Earnings before interest, taxes, depreciation and amortization for fiscal year 2015 declined to $34,300 from $1.32 million for fiscal year 2014. Loss from continuing operations was $1,032,000 against profit of $341,000 a year ago. Net loss was $1,032,000 against profit of $327,000 a year ago. Basic and diluted loss from continuing operations per share was $0.11 against $0.02 a year ago. Basic and diluted net loss per share was $0.11 against $0.02 a year ago.