By
Reuters
Reuters
Published
Mar 18, 2011
Mar 18, 2011
Perry Ellis Q4 profit beats Street on strong demand
By
Reuters
Reuters
Published
Mar 18, 2011
Mar 18, 2011
For 2012, the company expects to earn $2.30-$2.40 a share.
Analysts, on average, were expecting profits of $2.47 a share, according to Thomson Reuters I/B/E/S.
For the fourth quarter, ended January 29, the company whose brands include Laundry by Shelli Segal, Cubavera and Jantzen, earned $7.7 million, or 54 cents a share, compared with $8.5 million, or 64 cents a share, a year ago.
Excluding items, the company that also distributes accessories and fragrances earned 69 cents a share.
Revenue rose 5 percent to $206.9 million.
Analysts' average expectation was a profit of 67 cents a share on revenue of $207.8 million.
In January, Perry Ellis bought Rafaella Apparel Group from Cerberus Capital Management for about $70 million to diversify and strengthen its presence in the women's apparel market.
Shares of the Miami-based Perry Ellis, which have lost about 10 percent since raising FY outlook in February, closed at $26.30 on Thursday on Nasdaq.
(Reporting by NR Sethuraman; Editing by Joyjeet Das)
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