Fossil Inc. (FOSL) reported that its third quarter net income declined 3.3% to $35.3 million from $36.5 million in the year ago quarter. Earnings per share for the quarter decreased 3.7% to $0.52 from $0.54 last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter fell 6.9% to $381.4 million from $409.8 million. Five analysts had consensus revenue estimate of $376.88 million for the quarter.
For the fourth quarter, the company currently expects reported net sales to increase in a range of 7% to 9% with constant dollar sales increasing in a range of 2% to 4%.
The company lifts fourth quarter diluted earnings per share outlook to be in a range of $0.82 to $0.86, from previous guidance of $0.74 to $0.80. At prevailing foreign currency rates, the company expects its fourth quarter earnings per share estimate will be favorably impacted by about $0.17 as a result of the weaker U.S. dollar in comparison to the prior year fourth quarter. Analysts expect the company to reports earnings of $0.78 per share for the fourth quarter.
Further, the company raised fiscal 2009 earnings per share outlook to the range of $1.85 to $1.89. Earlier, the company had projected full year earnings of $1.63 to $1.73 per share. Analysts currently expect full year earnings of $1.71 per share.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.