Movado Reports Q4 EPS Of $0.40; Introduces FY16 Guidance - Quick Facts

(RTTNews) - Movado Group, Inc. (MOV) reported fourth-quarter net income to company of $10.1 million, or $0.40 per share compared to $7.2 million, or $0.28 per share, prior year. For the prior year quarter, adjusted net income was $12.0 million, or $0.46 per share.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items. Net sales were $133.9 million compared to $132.3 million in the fourth quarter of fiscal 2014. Net sales on a constant dollar basis increased 4.3% compared to the fiscal 2014 fourth quarter. On an adjusted basis, net sales were $133.9 million compared to adjusted net sales of $140.1 million in the prior year period. Analysts expected revenue of $134.31 million for the quarter.

In fiscal 2016, the company anticipates that net sales will increase to a range of $590 million to $600 million. The company anticipates net income in fiscal 2016 to be approximately $48.5 million to $51.0 million, or $2.00 to $2.10 per share, reflecting a 30% anticipated effective tax rate and reduced share count. Analysts expect the company to report fiscal 2016 earnings per share of $1.89 on revenue of $602.63 million.

The company also announced that the Board has approved a 10% increase in the quarterly cash dividend to $0.11 for each share of the outstanding common stock and class A common stock. The dividend will be paid on April 24, 2015 to all shareholders of record as of the close of business on April 10, 2015.