Movado Group Reports 48% Decline In Q2 Bottom Line

(RTTNews) - Movado Group (MOV) reported earnings for second quarter that retreated from last year.

The company said its bottom line fell to $6.31 million, or $0.27 per share. This was down from $12.05 million, or $0.50 per share, in last year's second quarter.

Analysts had expected the company to earn $0.31 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 12.0% to $128.09 million. This was down from $145.57 million last year.

Movado Group earnings at a glance:

-Earnings (Q2): $6.31 Mln. vs. $12.05 Mln. last year. -Earnings Decline (Y-o-Y): -47.6% -EPS (Q2): $0.27 vs. $0.50 last year. -EPS Decline (Y-o-Y): -46.0% -Analysts Estimate: $0.31 -Revenue (Q2): $128.09 Mln vs. $145.57 Mln last year. -Revenue Change (Y-o-Y): -12.0%

-Guidance: Full year EPS guidance: $1.40 - $1.55 Full year revenue guidance: $550.0 - $560.0 Mln