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Tumi Holdings, Inc. (NYSE:TUMI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 10.82%.
Tumi Holdings, Inc. Earnings Cheat Sheet
Revenue: Rose 18.53% to $126.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.25 per share. By that measure, the company missed the mean analyst estimate of $0.26. It missed the average revenue estimate of $129.37 million.
Quoting Management: Jerome Griffith, Chief Executive Officer, President and Director, commented, “We are very pleased with the strong finish to 2012, and the great momentum that we have built going into 2013. Importantly, we continue to leverage our market position as an iconic global premium lifestyle brand, broadening our product offering beyond travel-related merchandise and expanding into international markets where we are achieving exceptional growth despite difficult market conditions. During the quarter, we saw positive consumer reaction to our new product introductions, continued brand extensions and three new store openings in North America. We also saw improved retail performance and continued strength in our wholesale business in the EMEA zone, as well as continued growth in the Asia-Pacific region. Based on our recent successes, we continue to believe that significant long-term growth opportunities lie ahead for Tumi.”
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