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RICHARDSON, TX, United States — Fossil Group Inc. on Tuesday reported fourth-quarter earnings of $49.7 million.
The Richardson, Texas-based company said it had net income of $1.03 per share. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.36 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The watch and accessories maker posted revenue of $959.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $971.7 million.
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For the year, the company reported profit of $78.9 million, or $1.63 per share. Revenue was reported as $3.04 billion.
For the current quarter ending in April, Fossil Group expects its results to range from a loss of 25 cents per share to a loss of 10 cents per share.
The company expects full-year earnings in the range of $1 to $1.70 per share.
Fossil Group shares have fallen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 4 percent. In the final minutes of trading on Tuesday, shares hit $22.87, a drop of 34 percent in the last 12 months.
