free_bee
11 years ago
Movado Q4 Adj. Profit Tops View, Ups Dividend; Sees FY15 Results Above Estimates
Luxury watchmaker Movado Group, Inc. (MOV: Quote) reported Wednesday a decline in fourth-quarter profit, hurt by higher charges. Adjusted earnings topped analysts' estimates, while top line missed their view. The company also announced higher dividend, and said it sees fiscal 2015 earnings and sales above analysts' current estimates.
In pre-market activity, Movado shares gained $2.41 or 5.73 percent, and traded at $44.44.
For the fourth quarter, net income attributable to the company declined to $7.19 million or $0.28 per share from last year's $7.92 million or $0.31 per share.
The latest quarter results included a pre-tax charge of $8.3 million or $0.20 per share, relating to the company's strategy of reducing the presence of ESQ Movado while expanding the Movado brand offering in certain retail doors. The results also included a $0.05 per share charge related to a charitable contribution.
http://www.rttnews.com/2292432/movado-q4-adj-profit-tops-view-ups-dividend-sees-fy15-results-above-estimates.aspx
Penny Roger$
13 years ago
Movado Group, Inc. (Movado Group) designs, sources, markets and distributes fine watches. The Company’s portfolio of brands consists of Movado, Ebel, Concord, ESQ, Coach Watches, HUGO BOSS Watches, Juicy Couture Watches, Tommy Hilfiger Watches and Lacoste Watches. The Company operates in two segments: Wholesale and Retail. The Company’s wholesale segment includes the design, development, sourcing, marketing and distribution of watches, in addition to after-sales service activities and shipping. The retail segment includes the Company’s outlet stores and the Movado brand flagship store located at Rockefeller Center in New York City. The Company’s international operations are principally conducted in Europe, Asia, Canada, the Middle East, South America and the Caribbean.
http://www.google.com/finance?q=MOV