Specialty retailer Destination XL Group, Inc. (DXLG), Friday reported lower profit for the fourth quarter as the comparable prior-year period witnessed a tax benefit versus a provision for tax this year. The company further provided outlook for fiscal 2013.
For the period, the firm posted net income of $4.21 million compared with $33.49 million a year back. On a per share basis, earnings for the period totaled $0.09 versus $0.70 last year.
Sales for the period witnessed a slight improvement at $114.85 million from $111.07 million a year back.
The firm made provision for tax of $2.62 million versus a benefit of $51.11 million for the corresponding quarter a year earlier.
Looking forward, for the full-year, the firm said sees comparable sales increase of 8.5 to 10.0 percent and total sales of $415 million to $420 million while earnings per share is projected to be approximately breakeven.
Analysts are looking for earnings per share of $0.12 on revenue of $435.00 million for fiscal 2013.
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