G-III Q4 Profit Rises; Initiates FY16 Guidance - Quick Facts

(RTTNews) - G-III Apparel Group, Ltd. (GIII) reported fourth-quarter net income to company of $22.22 million or $0.96 per share, compared to $13.06 million or $0.62 per share, prior year. Non-GAAP net income per share was $0.98, for the quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.83 for the quarter. Analysts' estimates typically exclude special items. Net sales increased by 9% to $514.3 million from $472.8 million last year, driven by broad strength in the wholesale and retail businesses. Analysts expected revenue of $528.33 million for the quarter.

G-III Apparel Group issued guidance for the fiscal year ending January 31, 2016. For fiscal 2016, the company forecasts net sales of approximately $2.37 billion and net income between $116 million and $122 million, or between $5.05 and $5.25 per share. Analysts expect the company to report fiscal 2016 earnings per share of $5.16 on revenue of $2.34 billion.

For the first fiscal quarter ending April 30, 2015, the company forecasts net sales of approximately $406 million and net income between $1.1 million and $3.5 million, or between $0.05 and $0.15 per share. Analysts expect the company to report first-quarter earnings per share of $0.14 on revenue of $404.77 million.