G-III Apparel: Fiscal 2Q Earnings Snapshot

NEW YORK (AP) _ G-III Apparel Group Ltd. (GIII) on Thursday reported fiscal second-quarter net income of $10.1 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had net income of 20 cents per share. Earnings, adjusted for non-recurring costs, were 22 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The clothing and accessories maker posted revenue of $624.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $590.7 million.

For the current quarter ending in November, G-III Apparel expects its per-share earnings to range from $1.72 to $1.82.

The company said it expects revenue in the range of $1.08 billion for the fiscal third quarter.

G-III Apparel expects full-year earnings in the range of $2.52 to $2.62 per share, with revenue expected to be $3.06 billion.

G-III Apparel shares have risen 19 percent since the beginning of the year. The stock has risen 60 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIII at https://www.zacks.com/ap/GIII