Perry Ellis Posts Lower Q1 Profit; Lifts FY15 Adj. EPS View - Quick Facts

(RTTNews) - Perry Ellis International, Inc. (PERY), a distributor of apparel, accessories and fragrances, Thursday reported a drop in its first-quarter GAAP profit to $7.8 million, or $0.52 per share, from $11.3 million, or $0.74 per share, last year which included $3.4 million or $0.22 per share for the gain on the sale of the John Henry trademark in certain international territories in Asia. On an adjusted basis, earnings per share were $0.55 in the fiscal 2015 first quarter.

On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.27 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenue for the quarter was $257 million, a 2% decline from $262 million reported in the year-ago quarter, while 4 analysts estimated revenue of $233.65 million. As expected, revenues were impacted by planned exits of certain private and retailer exclusive branded programs. These exits were almost entirely offset by increases in golf lifestyle apparel, Nike swim and Original Penguin as well as stronger direct-to-consumer revenue results, the company said.

For fiscal 2015, the company still expects total revenues in a range of $910 million - $920 million, while it now sees adjusted earnings per share of $0.80 - $0.95, compared with its prior range of $0.75 - $0.90. Analysts project annual earnings of $0.84 per share on revenues of $918.14 million.