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.
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