Movado Group Reveals 28% Decline In Q1 Profit

(RTTNews) - Movado Group (MOV) reported a profit for first quarter that dropped from last year.

The company said its earnings dropped to $4.43 million, or $0.19 per share. This was lower than $6.16 million, or $0.25 per share, in last year's first quarter.

Analysts had expected the company to earn $0.16 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.3% to $114.06 million. This was down from $120.46 million last year.

Movado Group earnings at a glance:

-Earnings (Q1): $4.43 Mln. vs. $6.16 Mln. last year. -Earnings Decline (Y-o-Y): -28.1% -EPS (Q1): $0.19 vs. $0.25 last year. -EPS Decline (Y-o-Y): -24.0% -Analysts Estimate: $0.16 -Revenue (Q1): $114.06 Mln vs. $120.46 Mln last year. -Revenue Change (Y-o-Y): -5.3%