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Perry Ellis Beats 1Q profit Forecasts

Perry Ellis International Inc. on Thursday reported fiscal first-quarter earnings of $9.4 million. The results exceeded Wall Street expectations.
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  • Associated Press

MIAMI, United States — Perry Ellis International Inc. on Thursday reported fiscal first-quarter earnings of $9.4 million.

The Miami-based company said it had net income of 62 cents per share. Earnings, adjusted for one-time gains and costs, were 99 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The clothing maker posted revenue of $266.4 million in the period.

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Perry Ellis expects full-year earnings in the range of $1.68 to $1.75 per share, with revenue in the range of $925 million to $935 million.

Perry Ellis shares have dropped slightly more than 7 percent since the beginning of the year. The stock has increased 62 percent in the last 12 months.

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