Fossil Group Profit Tops Estimates - Quick Facts

(RTTNews) - Fossil Group Inc. (FOSL), a designer of fashion accessories, Tuesday reported third-quarter net income of $90 million or $1.58 per share compared with $77 million or $1.26 per share last year.

Results for the third-quarter of fiscal 2013 include about $20 million in sales related to shipments which the company had expected to deliver in the fourth quarter.

Revenues for the quarter were up 18% at $810 million compared with $684 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.36 per share on revenues of $771.93 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects earnings of $2.26 to $2.46 per share on revenue growth of 6% to 8%. Analysts expect earnings of $2.60 per share on revenue growth of 10.10%.

The company said sales growth rate will be unfavorably impacted by about 400 basis points due to the $20 million shift of shipments into the fiscal 2013 third quarter from the fourth quarter and the $17 million shift of North American holiday shipments from the third quarter of fiscal 2012 into the fourth quarter.

For fiscal year 2013, the company now expects earnings of $6.15 to $6.35 per share on sales growth of 12% to 12.75%. It earlier estimated sales growth of 11% to 12%.

Analysts expect earnings of $6.30 per share on sales growth of 12% for the year.