G-III Apparel Q4 Profit Rises; Guides Q1, FY Outlook - Quick Facts

(RTTNews) - Apparel maker G-III Apparel Group Ltd. (GIII) said that its net income attributable to the company for the fourth quarter ended January 31, 2014 increased to $13.1 million or $0.62 per share, from $8.1 million, or $0.40 per share in the fourth quarter of the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales rose 26% to $472.8 million from $375.3 million in the fourth quarter last year, also driven by broad strength across categories and tiers of distribution, as well as by the recently acquired G.H. Bass & Co. business. Eight analysts estimated revenues of $489.93 million for the quarter.

For the first fiscal quarter ending April 30, 2014, the company forecasts net sales of approximately $346 million and a net loss between $2.0 million and $4.0 million, or between $0.10 and $0.20 per share. First quarter results will be negatively impacted by the G. H. Bass & Co. acquisition. Analysts expect the company to report earnings of $0.04 per share and revenues of $345.63 million for the first-quarter.

The company issued guidance for the fiscal year ending January 31, 2015. For fiscal 2015, it expects net sales of approximately $2.05 billion and net income between $85.2 million and $88.5 million, or between $3.95 and $4.10 per share. Street currently is looking for fiscal year 2015 earnings of $4.30 per share on annual revenues of $2.10 billion.