Guess? Q2 Profit Declines; Cuts FY13 Revenue Outlook - Quick Facts

(RTTNews) - Guess?, Inc. (GES) reported second-quarter net income attributable to the company of $39.9 million or $0.47 per share, compared to $42.9 million or $0.49 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest second quarter was $44.3 million or $0.52 per share.

Total net revenue for the quarter rose 0.6% to $639.01 million from $635.39 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.36 per share on revenue of $622.87 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecast earnings of $0.34 to $0.38 per share and net revenues of $610 million to $620 million. Analysts currently expect the company to earn $0.40 per share on revenue of $614.98 million for the third quarter.

For the fiscal year ending February 1, 2014, the company now expects GAAP earnings in the range of $1.70 to $1.84 per share, adjusted earnings in the range of $1.78 to $1.92 per share and net revenues of $2.56 billion to $2.59 billion.

Earlier, the company expected earnings in the range of $1.70 to $1.90 per share and net revenues of $2.57 billion to $2.61 billion.

Analysts currently expect the company to earn $1.79 per share on sales of $2.58 billion for the year.

The company also announced today that its Board of Directors has approved a quarterly cash dividend of $0.20 per share on the Company's common stock. The dividend will be payable on September 27, 2013 to shareholders of record at the close of business on September 11, 2013.