Steve Madden Ltd. (SHOO) said its third-quarter net income rose to $17.83 million or $0.97 per share from $11.09 million or $0.62 per share last year. On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.97 for the quarter. Analysts' estimate typically excludes one-time items.
Net sales for the third quarter grew to $140.14 million from $128.09 million in the comparable period. Two analysts estimated revenues of $139.93 million for the quarter.
For fiscal 2009, the company expects net sales to increase in the range of 7%-8% compared with the year-ago period. Earnings per share for 2009 is expected to be in the range of $2.55 - $2.65. Five analysts estimate fiscal 2009 earnings per share of $2.64 for the year.
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