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Perry Ellis Tops 3Q Profit Forecasts

Perry Ellis International Inc. on Thursday reported fiscal third-quarter net income of $2.3 million, after reporting a loss in the same period a year earlier.
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  • Associated Press

MIAMI, United States — Perry Ellis International Inc. on Thursday reported fiscal third-quarter net income of $2.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Miami-based company said it had profit of 15 cents. Earnings, adjusted for non-recurring costs, were 16 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The clothing maker posted revenue of $205.4 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $210.6 million.

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Perry Ellis expects full-year earnings in the range of $1.81 to $1.88 per share, with revenue in the range of $910 million to $920 million.

Perry Ellis shares have dropped 31 percent since the beginning of the year. The stock has decreased 24 percent in the last 12 months.

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