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Jones Group Turns To Loss In Q1

Jones Group Inc. (JNY: Quote) reported first quarter loss available to common stockholders of $1.0 million or $0.01 per share, as against a profit of $24.9 million or $0.30 per share a year ago.

Adjusted earnings per share were $0.31, lower than last year's $0.38. The adjusted results exclude charges related to the impact of severance, asset impairments in retail locations to be closed and other costs related to restructuring activities, certain acquisition-related costs and other costs not considered relevant for period-over-period comparisons. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.14 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the latest quarter were $936 million, as compared with $961 million for the first quarter of 2011. Analysts estimated revenues of $937.27 million for the quarter.

Further, the board has declared a regular quarterly cash dividend of $0.05 per share to all common stockholders of record as of May 11, 2012, for payment on May 25, 2012.

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by RTT Staff Writer

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