Oxford Industries Q2 Profit Up, Cuts FY13 Outlook - Quick Facts

(RTTNews) - Oxford Industries Inc. (OXM) Tuesday reported second-quarter profit of $15.81 million or $0.96 per share, up from $5.03 million or $0.30 per share in the same period last year.

Adjusted earnings for the quarter was $1.01 per share. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.98 per share for the quarter. Analysts' estimates typically exclude special items. Sales increased 14 percent to $235.0 million from $206.9 million last year. Analysts expected revenues of $243.48 million. Looking ahead to the third quarter, the company has forecast earnings in the range of $0.04 to $0.09 per share, with adjusted earnings in the order of $0.08 to $0.13 per share.

Sales are projected in a range of $195 million to $205 million. Analysts currently expect the company to earn $0.21 per share on third-quarter revenues of $199.88 million.

For fiscal 2013, the company has lowered its earnings guidance to a range of $2.80 to $2.95 per share from its previous guidance range of $3.00 to $3.15 per share. On an adjusted basis, earnings are expected to range between $2.90 and $3.05 per share.

Sales are currently projected in a range of $920 million to $930 million, down from its previous guidance range of $930 million to $940 million. Analysts currently expect the company to report full-year earnings of $3.12 per share on revenues of $942.30 million.