Guess?, Inc. (GES: Quote) reported second-quarter net earnings attributable to the company of $42.9 million or $0.49 per share, compared to $60.7 million or $0.65 per share in the previous year quarter.
Adjusted net earnings attributable to the company for the quarter declined to $42.9 million or $0.49 per share from $78.3 million or $0.84 per share in the comparable quarter last year. On average, twelve analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share. Analysts' estimates typically exclude special items.
Total net revenue for the second quarter decreased 6.2% to $635.39 million from $677.16 million in the prior-year quarter, while eleven analysts expected revenues of $629.95 million for the quarter.
Looking ahead, to the third quarter of fiscal 2013, earnings per share are expected to be in the range of $0.42 to $0.46 and consolidated net revenues are expected to range from $620 million to $630 million. Analysts currently expect the company to report earnings of $0.64 per share on revenues of $670.67 million for the third-quarter.
For the fiscal year ending February 2, 2013, earnings per share are expected to be in the range of $2.15 to $2.30 and consolidated net revenues are expected to range from $2.62 billion to $2.65 billion. Previously, the company expected fiscal 2013 earnings to be in the range of $2.50 to $2.65 per share and consolidated net revenues in the range of $2.70 billion to $2.74 billion.
Analysts now expect the company to report earnings of $2.59 per share on revenues of $2.71 billion for fiscal 2013.
Further, the company also announced that its Board of Directors has approved a quarterly cash dividend of $0.20 per share on the company's common stock. The dividend will be payable on September 21, 2012 to shareholders of record at the close of business on September 5, 2012.
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by RTT Staff Writer
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