logo
Share SHARE
FONT-SIZE Plus   Neg

Fossil Q1 Profit Grows - Quick Facts

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Can a washing machine explode just like a bomb? A lawsuit filed in the federal court in New Jersey alleged that there was loud noise and damage to garage wall as the washing machine went off with a violent boom. Samsung is facing federal class action lawsuit from customers. There were similar reports... German lender Commerzbank AG said Thursday that it will cut almost 10,000 jobs, stop paying dividends for the time being and merge two big units as part of a restructuring to become profitable on a sustainable basis by 2020. The bank, Germany's second largest, said that to cover its restructuring costs in the region of 1.1 billion euros, it will cease dividend payments for the time being. Apple Inc. has repeatedly assured customers of its commitment to privacy and said that iMessage conversations are safe. However, Apple's iMessage logs the phone numbers typed by users for a text conversation and shares this information with law enforcement when compelled by court order, according to news site "The Intercept."
comments powered by Disqus
Follow RTT