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Guess Beats 3Q Profit Forecasts

Guess Inc. on Wednesday reported fiscal third-quarter net income of $20.8 million. The results topped Wall Street expectations.
Guess accessories Fall/Winter 2014 | Source: Guess
By
  • Associated Press

LOS ANGELES, United States — Guess Inc. on Wednesday reported fiscal third-quarter net income of $20.8 million.

The Los Angeles-based company said it had profit of 24 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The clothing company posted revenue of $589.8 million in the period.

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For the current quarter ending in January, Guess expects its per-share earnings to range from 53 cents to 63 cents.

The company expects full-year earnings in the range of $1 to $1.10 per share.

Guess shares have fallen 29 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.16, a drop of 35 percent in the last 12 months.

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