Carter's Q4 Profit Increases, Projects Q1 EPS In Line With Last Year

(RTTNews) - Carter's Inc. (CRI) Thursday announced fourth quarter net income of $72.599

million, up from $68.59 million in the prior year. On a per share basis, earnings

increased to $1.39 from $1.29 a year ago.

On average, 10 analysts polled by Thomson Reuters expected the company to earn

$1.29 per share. Analysts estimates usually exclude special items.

Net sales for the 13-week quarter were $866.544 million, slidght down from

$869.22 million for the 14-week period last year. Wall Street expected $854.69

million.

The company said its Board has authorized new $500 million share repurchase

program and 50 percent increase to quarterly dividend.

Looking ahead to fiscal 2016, the company projects 8 to 10 percent increase in

adjusted earnings per share. The company expects around 6 to 7 percent increase in

net sales. Street projects $5.11 per share on revenue of $3.18 billion.

For the first quarter, the company expects net sales to increase around 4 percent

from the prior year and sees adjusted earnings per share to be comparable to $0.97

reported in the previous year.