Mall fixture American Eagle Outfitters, Inc. (AEO) posted higher fourth-quarter income per share from continuing operations of $94.78 million, or $0.47 per share, versus the prior year's $60.37 million, or $0.31 per share.
On a non-GAAP basis, earnings per share for the recent quarter amounted to $0.55. On average, 23 analysts polled by Thomson Reuters expected earnings per share of $0.56 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked total net revenue of $1.12 billion, up from $1.03 billion last year. Analysts estimated revenues of $1.12 billion for the quarter. Consolidated comparable sales for the 14 weeks rose 4% over the prior-year period.
Looking ahead to the first quarter, the company sees earnings in the range of $0.16 - $0.19 per share, based on comparable store sales in the negative mid-single digit range. Analysts project first-quarter earnings of $0.25 per share. In addition, the management remains committed to its strategic plan annual targets of 7% to 9% top line CAGR, 12% to 15% EBIT CAGR, and a ROIC of 14% to 17%.
Further, the board authorized 20 million shares under a new share repurchase program and increased the quarterly cash dividend to $0.125 per share, up 14%. Due to the early payment of the first quarter dividend of $0.11, paid on December 28, 2012, the increased dividend distribution would begin in the second quarter, the company said.
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