Oxford Industries Q1 Adj. Profit Tops View; Backs FY14 Outlook - Quick Facts

(RTTNews) - Oxford Industries, Inc. (OXM) reported net income for the first quarter of $15.0 million or $0.91 per share, compared to $13.6 million or $0.82 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $15.5 million or $0.94 per share, compared to $13.7 million or $0.82 per share in the prior year quarter.

Net sales for the latest first quarter rose 10% to $257.65 million from $234.20 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.87 per share on revenue of $254.57 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts earnings in the range of $0.82 and $0.92 per share, adjusted earnings of $0.85 to $0.95 per share and net sales in the range of $245 to $255 million,. Analysts currently expect the company to earn $1.13 per share on revenue of $254.00 million for the second quarter.

For the fiscal year 2014, the company continues to expect earnings in the range of $2.88 to $3.03 per share, adjusted earnings of $3.00 to $3.15 per share and net sales in the range of $980 million to $1 billion. Analysts currently expect the company to earn $3.11 per share on revenue of $991.84 million for the fiscal year 2014.