Oxford Industries 1Q earns top Street estimates; 2Q, 2008 view below consensus
SAN FRANCISCO, Jun 11, 2008 (Thomson Financial via COMTEX) -- By Staff Reporter
Company: Oxford Industries, Inc. (OXM)
Oxford Industries Inc. late Tuesday reported first-quarter net earnings of $9.52 million, or 59 cents a share, above the mean 56-cent estimate of analysts polled by Thomson Reuters.
Net income in the prior-year period was $17.1 million, or 95 cents a share.
Revenue for the quarter ended May 3 fell to $272.9 million from $292.4 million a year earlier, above the mean Street view of $270 million.
The Atlanta-based apparel company sees second-quarter earnings of 31 cents to 35 cents a share on revenue of $225 million to $235 million. The consensus view was for a per-share profit of 48 cents on revenue of $239 million.
Oxford Industries lowered its 2008 forecast to a profit of $1.90 to $2.05 a share on revenue of around $1 billion. It had previously expected earnings of $2.35 a share on revenue of $1.01 billion to $1.06 billion. Analysts were expecting earnings of $2.35 a share on revenue of $1.06 billion.
The stock closed the regular session down 11 cents at $23.20. Brigid Gaffikin bg/gm
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Company: Oxford Industries, Inc. (OXM)
Related terms: apparel, earnings, profit, revenue
