Tiffany Beats 4Q Profit Forecasts

NEW YORK, United States – Tiffany & Co. on Friday reported fiscal fourth-quarter net income of $196.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had net income of $1.51.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The luxury jeweler posted revenue of $1.29 billion in the period, which fell short of Street forecasts. Eleven analysts surveyed by Zacks expected $1.3 billion.

For the year, the company reported profit of $484.2 million, or $3.73 per share. Revenue was reported as $4.25 billion.

Tiffany shares have decreased 19 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1.5 percent. The stock has declined roughly 7 percent in the last 12 months.