Skechers USA Inc (NYSE:SKX) reported strong quarterly results Thursday afternoon, sending SKX shares higher late in the day.

The footwear manufacturer and distributor posted adjusted earnings of 21 cents per share, ahead of the Zacks Investment Research consensus estimate of 13 cents per share. On a GAAP basis, Skechers lost 43 cents per share due to a one-time tax expense of 64 cents per share due to changes in the U.S. tax law.

Earnings from operations came in at $55.7 million, an increase of 96.9%. The company posted record sales of $970.6 million, a gain of 27% and topping the guidance analysts called for of $879.07 million, according to Zacks.

Skechers-owned global retail sales surged 25.8% compared to the year-ago quarter, while comparable same-store sales surged 12% year-over-year on a global level. The company’s gross margin for its fourth quarter was 46.8%.

For the first quarter of the company’s fiscal 2018, it predicts sales in the range of $1.18 billion and $1.2 billion, while earnings are slated to be between 70 cents and 75 cents per share on an adjusted basis.

“2017 was a monumental year for Skechers as we achieved sales of more than $4 billion for the first time in our 25-year history,” said Robert Greenberg, Skechers CEO, in a statement. “This growth is due to our continued focus on efficiencies and infrastructure as well as innovation, comfort, and relevancy within our product design.”

SKX stock surged 4.8% after the bell Thursday.