Oxford Profit Tops Estimates; Stock Up 8% On Strong Earnings Guidance

(RTTNews) - Apparel company Oxford Industries Inc (OXM) on Thursday reported fourth-quarter net earnings of $15.8 million or $0.96 per share compared with $15 million or $0.91 per share last year.

Excluding items, adjusted earnings for the quarter were $1.08 per share compared with $0.89 per share a year ago.

Revenues for the quarter were up 10% at $274.5 million compared with $250.4 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.03 per share on revenues of $274.8 million for the quarter. Analysts' estimates typically exclude special items.

"Fiscal 2014 was another good year for Oxford capped by a strong fourth quarter performance driven by solid comparable store sales increases and improved gross margin," said CEO Thomas Chubb III.

Also Oxford said it would pursue a sale of the Ben Sherman business, and has engaged Financo Ltd as financial advisor to assist in the process.

The company expects to complete the sale of Ben Sherman during 2015 and its results for the year would not include this business.

For the first quarter of 2015, the company expects adjusted earnings of $1.15 and $1.25 per share on revenues of $250 million to $260 million. Analysts expect earnings of $0.95 per share on revenues of $273.5 million.

For the full year 2015, Oxford projects adjusted earnings of $3.45 and $3.60 per share on revenues of $965 million to $980 million. Analysts expect earnings of $3.29 per share on revenues of $1.07 billion.

Oxford announced a quarterly dividend of $0.25 per share, an increase of 19% from the prior quarter.