Oxford Industries Q2 Profit Tops Estimates; Revenue Falls Short

(RTTNews) - Oxford Industries, Inc. (OXM) reported net income for the second quarter of $15.1 million or $0.92 per share, compared to $15.8 million or $0.96 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the second quarter were $0.94, compared to $1.01 in the second quarter of fiscal 2013.

Net sales for the second quarter increased 5% to $246.2 million compared to $235.0 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.88 per share on revenue of $251.60 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company anticipates net sales in a range of $220 to $230 million. On an adjusted per share basis, the company expects to be in a range between a loss of $0.05 and earnings of $0.05. On a reported per share basis, the company expects to be in a range between a loss of $0.08 and earnings of $0.02. Analysts currently expect the company to earn $0.09 per share on revenue of $213.87 million for the third quarter.

For fiscal 2014, the company affirmed its full year adjusted earnings per share guidance in a range of $3.00 to $3.15 on net sales of about $1 billion. On a reported basis, the company expects earnings per share in a range of $2.88 to $3.03 for the fiscal year. Analysts currently expect the company to earn $3.17 per share on revenue of $1.02 billion for the fiscal year 2014.