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Feb 15, 2011
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Perry Ellis raises FY outlook on strong demand

By
Reuters
Published
Feb 15, 2011

Feb 14 - Apparel maker Perry Ellis International Inc raised its adjusted full-year earnings outlook and forecast a fourth-quarter profit largely above analysts' estimates, as its products continued to resonate well with customers.

Perry Ellis
Perry Ellis

For full-year 2011, the company raised its adjusted full-year profit to $1.82-$1.85 per share from its prior forecast of $1.72-$1.80 a share.

Analysts on an average were expecting earnings of $1.83 per share, according to Thomson Reuters I/B/E/S.

For the fourth quarter ending January 29, the company forecast adjusted earnings of 66-69 cents per share, compared with analysts' expectations of a profit of 66 cents per share.

For fiscal year 2012, the company, whose brands include Laundry by Shelli Segal, Cubavera and Jantzen, forecast earnings of $2.50-$2.65 per share and said it expects revenue to reach $1 billion.

Shares of the Miami-based company, closed at $29.28 on Monday on Nasdaq. They were up 4 percent in extended trade.

(Reporting by NR Sethuraman in Bangalore; Editing by Roshni Menon)

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