Fossil Earnings: Here’s Why Investors are Happy Now
Fossil, Inc. (NASDAQ:FOSL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.28%.
Fossil, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30.11% to $1.21 in the quarter versus EPS of $0.93 in the year-earlier quarter.
Revenue: Rose 15.5% to $680.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fossil, Inc. reported adjusted EPS income of $1.21 per share. By that measure, the company beat the mean analyst estimate of $0.97. It beat the average revenue estimate of $650.99 million.
Quoting Management: Kosta Kartsotis, Chief Executive Officer, stated, “We are off to an excellent start in fiscal 2013, with record first quarter results that exceeded both our top and bottom line expectations. We increased FOSSIL brand sales, driven by double-digit watch growth and the resurgence of our retail jewelry business. Our multi-brand watch portfolio sustained its positive momentum with strong performances across several brands and we continued to develop SKAGEN with the introduction of a new jewelry line in the quarter. International expansion continued to fuel our growth, with strong performances in both Asia and Europe. In the Americas, we posted solid gains and also completed the acquisition of one of our Latin America distributors, providing an important foothold in that very promising region.”
Key Stats (on next page)…