Oxford Industries Q4 Profit Tops Estimate

(RTTNews) - Oxford Industries, Inc. (OXM) reported net income for the fourth quarter of $15.0 million or $0.91 per share, compared to $5.3 million or $0.32 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $14.6 million or $0.89 per share, compared to $10.9 million or $0.65 per share in the prior year quarter.

Net sales for the fourth quarter rose 6% to $250.36 million from $236.25 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.86 per share on revenue of $250.13 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts net sales of $250 to $260 million, earnings of $0.77 and $0.87 per share and adjusted earnings of $0.80 to $0.90 per share. Analysts currently expect the company to earn $0.87 per share on revenue of $253.82 million for the first quarter.

For the fiscal year 2014, the company forecasts net sales of $980 million to $1.0 billion, earnings of $2.88 to $3.03 per share and adjusted earnings of $3.00 to $3.15 per share. Analysts currently expect the company to earn $3.15 per share on revenue of $993.40 million for the fiscal year 2014.