Oxford Industries Inc. (OXM) posted second quarter net income of $0.53 million or $0.03 per share, compared to $1.47 million or $0.09 per share in the year-ago period. Adjusted net earnings for the quarter was $0.30 per share, compared to $0.37 per share in the same quarter last year.
On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share. Analysts' estimates typically exclude special items.
Consolidated net sales were $192.9 million in the second quarter, compared to $230.5 million in the year-ago period. Four Wall Street analysts expected revenues of $189.91 million.
Looking forward, for the fiscal year 2009, the company expects net sales in the range of $765 million to $780 million. Adjusted net earnings per share is expected to range between $0.90 and $1.05.
The company also said its Board of Directors approved a cash dividend of $0.09 per share payable on October 30, 2009 to shareholders of record as of the close of business on October 15, 2009.
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