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Fossil Group, Inc. Message Board

  • bluecheese4u bluecheese4u Nov 6, 2012 2:19 PM Flag

    FOSSIL, INC. REPORTS THIRD QUARTER RESULTS

    FOSSIL, INC. REPORTS THIRD QUARTER RESULTS

    Third Quarter Net Sales and Diluted Earnings Per Share Continue at Record Levels
    Constant Dollar Net Sales Rise 9.9%
    Diluted GAAP Earnings Per Share Increase 15.6% to $1.26
    Diluted Earnings Per Share, As Adjusted, Increase 17.4% to $1.28

    Richardson, TX. November 6, 2012 -- Fossil, Inc. (NASDAQ: FOSL) (the “Company”) today reported third quarter net
    sales and earnings for the thirteen-week (“Third Quarter”) and thirty-nine week (“Nine Month Period”) periods ended
    September 29, 2012.
    Third Quarter Results (2012 vs 2011):
    • Net sales increased 6.4% to $684.2 million compared to $642.9 million;
    • Gross profit rose 6.1% to $381.5 million, or 55.8% of net sales, compared to $359.5 million, or 55.9% of net
    sales;
    • Operating income decreased 4.8% to $113.1 million, or 16.5% of net sales, compared to $118.8 million, or 18.5%
    of net sales;
    • Income before income taxes increased 1.8% to $113.9 million, or 16.6% of net sales, compared to $111.8 million,
    or 17.4% of net sales;
    • Net income attributable to Fossil, Inc. increased 10.3% to $76.8 million compared to $69.6 million; and
    • Diluted earnings per share increased 15.6% to $1.26 and diluted earnings per share, as adjusted, increased 17.4%
    to $1.28, both based on 61.0 million shares compared to $1.09 on 63.8 million shares.
    Nine Month Period Results (2012 vs 2011):
    • Net sales increased 10.0% to $1.91 billion compared to $1.74 billion;
    • Gross profit increased 9.6% to $1.07 billion, or 55.9% of net sales, compared to $973.3 million, or 56.0% of net
    sales;
    • Operating income decreased 4.6% to $284.0 million, or 14.9% of net sales, compared to $297.6 million, or 17.1%
    of net sales;
    • Income before income taxes increased 1.3% to $286.6 million, or 15.0% of net sales, compared to $282.8 million,
    or 16.3% of net sales;
    • Net income attributable to Fossil, Inc. increased 8.8% to $192.3 million compared to $176.8 million; and
    • Diluted earnings per share increased 13.1% to $3.11 and diluted earnings per share, as adjusted, increased 14.5%
    to $3.15, both based on 61.8 million shares compared to $2.75 on 64.2 million shares.

    “Double-digit growth in our direct to consumer business and Asia Pacific region, coupled with expense management and
    improved gross margin resulted in Third Quarter earnings surpassing our initial guidance,” stated Mike Kovar EVP and
    CFO. “Incremental sales from our recently acquired SKAGEN® brand additionally helped fuel top line sales growth
    despite an overall challenging sales environment in Europe. In addition, we continued to experience double-digit
    increases in the sales of watches against a backdrop of sizeable growth over the last two years. During the quarter we
    made excellent progress toward our long-term expansion goals in support of a much larger business in Asia and
    capitalizing on the power of our multi-brand watch portfolio.”
    Operating Results

    fossil

 
FOSL
81.525-0.925(-1.12%)Apr 20 4:00 PMEDT