Tumi Holdings Q1 Profit Declines; Cuts FY14 Outlook - Quick Facts

(RTTNews) - Tumi Holdings, Inc. (TUMI) posted first-quarter net income of $8.2 million or $0.12 per share, compared to $10.5 million or $0.16 per share in the same period last year.

On average, nine analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales improved 5.5% to $108.60 million from $102.93 million last year, while seven analysts expected revenues of $115.80 million.

Looking ahead, to fiscal 2014, the company now expects earnings to be in the range of $0.88 per share to $0.92 per share, down from its prior range of $0.92 to $0.96 per share and net sales to increase between 12% and 15%. Analysts currently expect full-year earnings of $0.95 per share and revenue of 16.00%.