Kate Spade Q2 Adj. EPS Tops Estimates - Quick Facts

(RTTNews) - Kate Spade & Co. (KATE) Tuesday reported a sharp reduction in its second-quarter net loss to $4 million or $0.03 per share from $43 million or $0.36 per share last year. Loss from continuing operations narrowed to $14 million or $0.11 per share from $24 million or $0.20 per share a year ago. On an adjusted basis, the company posted earnings per share from continuing operations of $0.05 per share. On average, 10 analysts polled by Thomson Reuters expected the company to report breakeven per share for the quarter. Analysts' estimates typically exclude special items. Quarterly sales climbed 48.7 percent to $266 million from $178.9 million in the prior-year quarter, reflecting increases in the Kate Spade North America and Kate Spade International segments. Analysts estimated revenue of $237.83 million.