Perry Ellis International, Inc. (PERY) Tuesday lowered its full-year outlook, reflecting the exit of underperforming brands and businesses and consolidation of operations.
For the fiscal year 2013, the company lowered its adjusted earnings outlook to a range of $1.43 to $1.45 per share. This compares to the previous guidance range of $1.75 to $1.80 per share.
Revenues are currently projected at approximately $970 million, up from previous guidance range of $990 million to $1 billion.
Analysts currently expect the company to report full-year 2013 earnings of $1.79 per share, on revenues of $994.14 million.
Looking ahead to the fourth quarter, the company has forecast adjusted earnings in a range of $0.48 to $0.50 per share. Revenues are projected at approximately $258 million.
Analysts currently expect the company to earn $0.77 per share for the fourth quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal year 2014, the company has forecast initial adjusted earnings in a range of $1.50 to $1.60 per share. Analysts expect full-year 2014 earnings of $2.16 per share.
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