Fossil Inc. (FOSL) reported first quarter net income of $0.93 per share Tuesday morning, up from $0.86 per share in the prior year period. The consensus estimate was for EPS of $0.92. The company expects to report second quarter EPS of $0.77 to $0.79 and between $5.30 and $5.40 for the full year 2012. The consensus estimates are for EPS of $0.94 and $5.56.
Fossil gapped open dramatically lower Tuesday and declined during the first hour of trade. The stock ended the session lower by 47.25 at $78.52 on the highest volume of the year. Fossil plunged to nearly a 4-month low and fell below its 200-day moving average.
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