Fossil Inc.'s (FOSL) first-quarter net income attributable to the company increased to $58.14 million or $0.93 per share from $55.82 million or $0.86 per share last year. On average, 15 analysts polled by Thomson Reuters expected earnings per share of $0.92 for the quarter. Analysts' estimates typically exclude one-time items.
The company said the recent quarter's results included a $0.03 per share rise related to net foreign currency exchange gains in comparison to the prior fiscal year first quarter and a $0.03 per share increase related to a 3.7% lower outstanding share count as a result of the company's ongoing buyback program.
Net sales increased 9.8% to $589.5 million from $537.0 million in the earlier year quarter, and up 11.1% in constant dollars. Thirteen analysts estimated revenues of $617.64 million for the quarter.
For the second quarter of fiscal 2012, the company sees reported net sales to increase about 16% with constant dollar net sales increasing 19%. Including Skagen activities, second quarter 2012 earnings per share are expected to be in a range of $0.77 - $0.79. Analysts expect earnings of $0.94 per share for the second quarter.
For fiscal 2012, the company currently projects reported net sales to increase around 16% with constant dollar net sales increasing nearly 18%. Net sales of Skagen, included in this estimate, are expected to benefit overall sales growth by 5%. Full-year earnings per share are now estimated to be in a range of $5.30 - $5.40, while 15 analysts project 2012 earnings of $5.56 per share.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.