Capri Holdings Ltd Q1 Profit Decreases, but beats estimates

(RTTNews) - Capri Holdings Ltd (CPRI) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $48 million, or $0.41 per share. This compares with $201 million, or $1.40 per share, in last year's first quarter.

Excluding items, Capri Holdings Ltd reported adjusted earnings of $88 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.6% to $1.23 billion from $1.36 billion last year.

Capri Holdings Ltd earnings at a glance (GAAP) :

-Earnings (Q1): $48 Mln. vs. $201 Mln. last year. -EPS (Q1): $0.41 vs. $1.40 last year. -Analyst Estimates: $0.71 -Revenue (Q1): $1.23 Bln vs. $1.36 Bln last year.