Tags: US | Earns | Guess

Guess Profit Surges 80 Percent as Sales Improve

Friday, 28 May 2010 02:34 PM

Guess Inc. said on Wednesday that its fiscal fourth-quarter profit rose more than 80 percent on sales increases throughout the apparel maker's business segments.

In the three months ending Jan. 30, the company earned $86.6 million, or 93 cents per share, compared with earnings of $47.9 million, or 51 cents per share, in the same period last year.

Excluding one-time items, the company earned $89.3 million, or 96 cents per share.

Sales rose 14 percent to $642 million from $561.1 million.

Analysts polled by Thomson Reuters had expected 81 cents per share in profit on sales of $601.7 million. Analysts typically exclude one-time charges from their estimates.

CEO Paul Marciano said the company's performance exceeded its expectations, with each business seeing improvements. He said the company also is controlling its costs and is doing well despite the economic climate.

"This was a year in which we expanded our international business, improved the profitability of our new businesses, fully restored our operating margin structure and generated strong cash flows," he said in a statement.

For the fiscal year, the company earned $242.8 million, or $2.61 per share, up from $213.6 million, or $2.25 per share in the prior year.

Sales rose slightly to $2.13 billion from $2.1 billion.

Guess said it expects its first-quarter revenue to range from $495 million to $510 million, and earnings per share to range from 46 cents to 48 cents. Analysts predict income of 47 cents per share on revenue of $485.1 million.

Shares rose $1.02, or 2 percent, to $47.70 in after-hours trading. The stock earlier added 7 cents to close at $46.68.

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Guess Inc. said on Wednesday that its fiscal fourth-quarter profit rose more than 80 percent on sales increases throughout the apparel maker's business segments.In the three months ending Jan. 30, the company earned $86.6 million, or 93 cents per share, compared with...
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2010-34-28
Friday, 28 May 2010 02:34 PM
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