Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade FOSL now with 
2/14/2012 7:14 AM ET

Fossil, Inc. (FOSL: Quote) 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."

Register
To receive FREE breaking news email alerts for Fossil Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks have moved mostly higher in early trading on Wednesday, adding to the gains posted in the two previous sessions. The major averages have all moved to the upside, although buying interest has waned since the open. Industrial production in the U.S. rose by more than expected in the month of March, the Federal Reserve revealed in a report on Wednesday, with the report also showing a notable upward revision to the pace of production growth in the previous month. The report said industrial production increased by 0.7 percent in March after surging up by an upwardly revised 1.2 percent in February. Housing starts in the U.S. showed a notable increase in the month of March, according to a report released by the Commerce Department on Wednesday, although starts still came in well below economist estimates. The report showed that housing starts climbed 2.8 percent to an annual rate of 946,000 in March from the revised February estimate of 920,000.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.