Oxford Industries Adj. Profit Rises; Again Lifts FY Guidance

(RTTNews) - Apparel company Oxford Industries Inc (OXM) on Wednesday reported second-quarter net loss of $2 million or $0.12 per share compared with a profit of $15.1 million or $0.92 per share last year.

Excluding loss from discontinued operations and other items, adjusted earnings for the quarter were $1.32 per share compared with $1.07 per share a year ago.

Revenues for the quarter were $250.7 million compared with $227.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.23 per share on revenues of $252.1 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin rose to 60.3% from 59.9% last year, and operating margin climbed to 13.9% from 13%..

For the third quarter, the company expects adjusted loss of $0.15 to $0.05 per share and revenues of $200 million to $210 million. Analysts expect a loss of $0.04 per share and revenues of $209.1 million.

For the full year 2015, the company now expects adjusted earnings of $3.55 to $3.70 per share and revenues of $975 million to $990 million. Earlier it expected earnings of $3.50 to $3.65 per share and revenues of $970 million to $985 million.

Analysts expect earnings of $3.64 per share and revenues of $982.9 million for 2015.

The company also announced a cash dividend of $0.25 per share.