Movado Group Q2 Income Drops, Misses Estimates

(RTTNews) - Movado Group (MOV) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $3.72 million, or $0.16 per share. This compares with $8.05 million, or $0.36 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.7% to $159.31 million from $160.39 million last year.

Movado Group earnings at a glance (GAAP) :

-Earnings (Q2): $3.72 Mln. vs. $8.05 Mln. last year. -EPS (Q2): $0.16 vs. $0.36 last year. -Revenue (Q2): $159.31 Mln vs. $160.39 Mln last year.

-Guidance: Full year EPS guidance: $1.20 to $1.30 Full year revenue guidance: $665 to $675 Mln