Fossil Group Q2 Profit Rises - Quick Facts

(RTTNews) - Fossil Group, Inc. (FOSL) reported that its second-quarter record net earnings increased to $67.7 million from $57.3 million last year. Earnings per share grew to a record $1.15, compared to $0.92 prior year. The company noted that its second quarter results benefitted from a shift of about $7 million or $0.08 per share of marketing and systems related expenditures into the third quarter. Second quarter results were negatively impacted by $0.03 per share as the company now expects a higher full year effective income tax rate, given an earnings mix shift among its operating entities.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.93 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $706.2 million, from $636.1 million, last year. Analysts expected revenue of $691.20 million for the quarter.

For the third quarter of 2013, the company expects: net sales to increase approximately 12.5% to 13.5%, and earnings per share in a range of $1.30 to $1.37. Analysts expect the company to report third-quarter profit per share of $1.46 on revenue of $761.01 million.

For full year 2013, the company expects net sales to increase approximately 11.0% to 12.0%, and earnings per share in a range of $6.15 to $6.35. Analysts expect the company to report full year 2013 profit per share of $6.17 on revenue of $3.17 billion.