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 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."
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by RTT Staff Writer
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