By
Reuters
Reuters
Published
Feb 23, 2011
Feb 23, 2011
Steven Madden posts bigger Q4 profit
By
Reuters
Reuters
Published
Feb 23, 2011
Feb 23, 2011
Feb 22 (Reuters) - Shoemaker Steven Madden posted a 30-percent rise in quarterly profit on strong demand during the crucial holiday season, and forecast 2011 profit above estimates.
Steve Madden shoes |
For 2011, the company, whose lines include flagship brand Steve Madden, Stevies and Candies, expects to earn $3.00-$3.10 per share.
Analysts on an average were expecting the company to earn $2.99 a share, according to Thomson Reuters I/B/E/S.
For the fourth quarter, the Long Island City, New York-based company earned $17.6 million, or 62 cents per share, compared to $13.6 million, or 49 cents per share last year.
Analysts were expecting the company to earn 55 cents a share, on revenue of $157.9 million.
Shares of the company were up 4 percent at $46.50 on Tuesday before the bell. They closed at $44.55 on Friday on Nasdaq. (Reporting by Nivedita Bhattacharjee; Editing by Roshni Menon)
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