logo
Share SHARE
FONT-SIZE Plus   Neg

Fossil Q4 Profit Rises; Guides Q1, 2012 - Quick Facts

Fossil, Inc. (FOSL) said its fourth-quarter net income attributable to Fossil was up to $117.91 million or $1.87 per share from $96.66 million or $1.46 per share a year ago.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.77 per share. Analysts' estimates typically exclude special items.

Net sales grew to $830.76 million from $701.08 million in the prior-year quarter. Analysts estimated revenues of $841.12 million.

Mike Kovar, Executive Vice President and Chief Financial Officer of Fossil, Inc., said, "..The Fourth Quarter double-digit sales increases were broad-based across major brands, product categories and geographies, driven by the ongoing success of our two core global growth strategies, our FOSSILĀ® accessories lifestyle business and our multi-brand watch business..."

Looking ahead, Fossil expects first-quarter earnings per share to be in a range of $0.90 to $0.92. Analysts expect the company to earn $0.98 per share.

For fiscal year 2012, the company forecasts earnings per share in a range of $5.40 to $5.50. Analysts expect the company to earn $5.44 per share.

The company expects first quarter and fiscal 2012 net sales growth in the 15% range.

Kovar stated further, "...We will continue our investment in support of our expansion in Asia and in our direct to consumer channel with expectations that this will lead to sustainable long-term growth...We remain confident in our strategies and expect fiscal 2012 to represent another year of strong growth and significant accomplishments toward our long-term goals and objectives."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016. German lender Commerzbank AG reported a profit in its fourth quarter, compared to last year's loss, particularly benefited by lower loan loss provisions. Chairman Martin Blessing noted that its for the first time in five years that the bank attained a net profit of more than 1 billion euros. Looking ahead, for fiscal 2016, the bank expects a slight increase in net profit from the prior year. Activision Blizzard Inc. (ATVI) on Thursday reported a drop in profit for the fourth quarter, as revenues declined reflecting weak demand for Skylanders SuperChargers and Guitar Hero Live. The video game publisher's profit and revenues fell short of Wall Street estimates. Moving ahead, the company detailed...
comments powered by Disqus
RELATED NEWS
Trade FOSL now with 
Follow RTT