By
Reuters
Reuters
Published
Mar 30, 2011
Mar 30, 2011
Oxford Q4 tops; sees strong Q1 on Tommy Bahama gains
By
Reuters
Reuters
Published
Mar 30, 2011
Mar 30, 2011
Tommy Bahama brand |
The company, whose brands also include Lilly Pulitzer, Ben Sherman and Oxford Golf, increased its quarterly dividend 18 percent to 13 cents a share.
Oxford Industries projected a first-quarter profit of 95 cents to $1.05 a share on revenue of $200-$210 million.
Analysts, on average, expected the company to earn 81 cents a share on revenue of $198.3 million, according to Thomson Reuters I/B/E/S.
For the full-year, sales of its Tommy Bahama brand are expected to increase approximately 10 percent.
The brand's fourth-quarter sales rose 15 percent to $108.9 million, driven by more direct-to-consumer business as well as a "dramatically higher" e-commerce sales.
Net income rose to $53.4 million, or $3.22 a share, from $3.9 million, or 24 cents a share, a year ago.
Excluding items such as a gain on sale of Oxford Apparel, the company earned 35 cents a share, topping average Wall Street estimates of 31 cents a share.
Net sales rose 10 percent to $157.7 million, also surpassing expectations of $154.8 million.
Shares of the Atlanta-based company jumped 11 percent to $27.80 in extended trade. They closed at $25.01 on Tuesday on the New York Stock Exchange.
(Reporting by Viraj Nair in Bangalore; Editing by Joyjeet Das)
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