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By
Reuters
Published
Feb 14, 2012
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Fossil 4th-qtr beats Wall Street, sees weak 1st-qtr

By
Reuters
Published
Feb 14, 2012

Fossil Inc's quarterly profit beat Wall Street estimates, but the watchmaker forecast weaker-than-expected earnings for the first quarter.


Fossil.com

The company, which also sells jewelry, leather goods, belts, sunglasses and apparel, expects earnings of 90 cents to 92 cents per share for the first quarter, which came in below analysts' estimate of 98 cents a share, according to Thomson Reuters I/B/E/S.

Fourth-quarter earnings rose to $117.9 million, or $1.87 a share, from $96.7 million, or $1.46 a share, in the year ago period.

The Richardson, Texas-based company, which sells its namesake brand as well as Michael Kors and Armani brands, said revenue for the quarter rose 18.5 percent to $830.8 million.

Analysts on average had expected the company to earn $1.77 a share, on revenue of $841.1 million.

Fossil shares fell more than 3 percent before the bell on Tuesday. They closed at $104.50 on Monday on the Nasdaq. (Reporting by Meenakshi Iyer and Arpita Mukherjee in Bangalore)

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