logo
Plus   Neg
Share
Email

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 FOSSIL® 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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT