Carter's Q3 Profit Down - Quick Facts

(RTTNews) - Carter's, Inc.(CRI), Thursday posted a decrease in its third-quarter profit, reflecting higher expenses that offset the 14 percent increase in sales. However, on adjusted basis, earnings per share exceeded the consensus estimates.

For the three-month period, the company reported net income of $56.6 million or $0.97 per share, compared with $59.4 million or $0.99 per share last year.

Excluding certain expenses, earnings were $65 million or $1.12 per share. On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $1.08 for the quarter. Analysts' estimates typically exclude one-time items.

Consolidated net sales increased to $760.2 million, from $668.6 million a year ago. Analysts expected the company to generate revenues of $748.04 million for the quarter.

For the fourth quarter, the company expects net sales to grow about 9 percent to 10 percent, from last year. The company expects adjusted earnings per share to increase about 10 percent to 15 percent from the year ago. For the full-year, the company expect net sales growth of 10 percent, and adjusted earnings per share growth of 15 percent to 17 percent.