Jones Group Q3 Profit Climbs, Adj. EPS Down, Yet Tops Estimates - Quick Facts

(RTTNews) - Jones Group Inc.(JNY), a wholesaler of apparel and accessories, reported Wednesday that its third-quarter net income attributable to the company was $29.3 million, higher than last year's $17.4 million. Earnings per share grew to $0.38 from $0.22 a year ago.

Adjusted earnings per share, which excluded charges, were $0.48, as compared to last year's $0.57.

On average, five analysts polled by Thomson Reuters expected earnings of $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the third quarter were $1.02 billion, lower than last year's $1.04 billion. Analysts expected $1.04 billion revenues.

The company said the quarterly revenues were in line with expectations, with the Jeanswear segment again registering the largest improvement in operating results. The Domestic Retail, International Wholesale and International Retail segments also showed improved operating results.

Chief Executive Officer Wesley Card said, "We believe that we are well-positioned for the fourth quarter and early 2014 as we continue to execute on our strategic plan.... We are confident that continued product improvement will translate into improved retail performance and, ultimately, increased profitability."

Further, the company said its Board of Directors has declared a regular quarterly cash dividend of $0.05 per share to stockholders of record as of November 15 for payment on November 29.