Guess Profit Falls, Yet Tops Estimate; Cuts FY Guidance

(RTTNews) - Guess? Inc (GES) Wednesday reported third-quarter net earnings of $20.8 million or $0.24 per share compared with $34 million or $0.40 per share last year.

Revenues for the quarter were $589.8 million compared with $613.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.18 per share on revenues of $595 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, Guess projects earnings of $0.53 to $0.63 per share on revenues of $695 million to $710 million. Analysts expect earnings of $0.69 per share on revenues of $747 million.

For the full year, the company now expects earnings of $1.00 to $1.10 per share on revenues of $2.42 billion to $2.43 billion. It earlier expected earnings of $1.05 to $1.20 per share on revenues of $2.44 billion to $2.48 billion.

Analysts expect earnings of $1.10 per share on revenues of $2.47 billion for the year.

The company has declared a quarterly cash dividend of $0.225 per share.