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Guess Tops Fourth Quarter Profit Forecasts

Guess Inc. on Wednesday reported fiscal fourth-quarter earnings of $53.9 million.
Guess accessories Fall/Winter 2014 | Source: Guess
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  • Associated Press

LOS ANGELES, United States — Guess Inc. on Wednesday reported fiscal fourth-quarter earnings of $53.9 million.

On a per-share basis, the Los Angeles-based company said it had net income of 63 cents.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The clothing company posted revenue of $696.7 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $702.3 million.

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For the year, the company reported profit of $94.6 million, or $1.11 per share. Revenue was reported as $2.42 billion.

Guess expects full-year earnings to be 75 cents to 95 cents per share.

Guess shares have fallen 21 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.74, a drop of 43 percent in the last 12 months.

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