Movado Group Bottom Line Declines 94% In Q1

(RTTNews) - Movado Group (MOV) revealed a profit for first quarter that retreated from last year.

The company said its earnings dropped to $0.26 million, or $0.01 per share. This was lower than $4.43 million, or $0.19 per share, in last year's first quarter.

Analysts had expected the company to earn $0.10 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 13.0% to $99.27 million. This was down from $114.06 million last year.

Movado Group earnings at a glance:

-Earnings (Q1): $0.26 Mln. vs. $4.43 Mln. last year. -Earnings Decline (Y-o-Y): -94.1% -EPS (Q1): $0.01 vs. $0.19 last year. -EPS Decline (Y-o-Y): -94.7% -Analysts Estimate: $0.10 -Revenue (Q1): $99.27 Mln vs. $114.06 Mln last year. -Revenue Change (Y-o-Y): -13.0%

-Guidance: Full year EPS guidance: $1.40 - $1.55 Full year revenue guidance: $515 - $530 Mln