Fossil Group Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Fossil Group, Inc. (FOSL) reported third-quarter net income to company of $103.7 million or $1.96 per share, compared to $89.7 million or $1.58 per share, prior year. The company said the increase in earnings per share resulted from operating income growth driven by increased sales and the benefit of a lower share base.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.82 for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $894.5 million from $810.4 million last year. Analysts expected revenue of $879.05 million for the quarter.

For 2014, the company now expects: net sales to increase approximately 8.5% to 9.5%; and earnings per share in a range of $7.00 to $7.30. Analysts expect the company to report full year earnings per share of $7.16.

For the fourth quarter, the company expects: net sales to increase approximately 3% to 6%; and earnings per share in a range of $2.91 to $3.21. Analysts expect the company to report fourth-quarter earnings per share of $3.16.

On November 10, 2014, the board of Fossil Group authorized a new $1 billion share repurchase program, which will expire in December 2018.