Guess? Q3 Profit Declines; Cuts FY13 Revenue Outlook - Quick Facts

(RTTNews) - Guess?, Inc. (GES) reported third-quarter net earnings attributable to the company of $34.0 million or $0.40 per share, compared to $36.6 million or $0.43 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest third quarter was $35.4 million or $0.42 per share, down from $36.6 million or $0.43 per share in the comparable quarter last year.

Total net revenue for the quarter decreased 2% to $613.50 million from $628.83 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.38 per share on revenue of $613.56 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecast earnings of $0.74 to $0.84 per share and net revenues of $750 million to $770 million. Analysts currently expect the company to earn $0.83 per share on revenue of $778.20 million for the fourth quarter.

For the fiscal year ending February 1, 2014, the company now expects GAAP earnings in the range of $1.73 to $1.83 per share, adjusted earnings in the range of $1.82 to $1.92 per share and net revenues of $2.55 billion to $2.57 billion.

Earlier, the company expected 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.

Analysts currently expect the company to earn $1.87 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, payable on January 3, 2014 to shareholders of record at the close of business on December 18, 2013.