Oxford Industries Q3 Profit Declines; Lifts FY13 Outlook - Quick Facts

(RTTNews) - Oxford Industries Inc. (OXM) Wednesday reported third-quarter net earnings of $889 thousand, or $0.05 per share, compared to $3.0 million, or $0.18 per share in the same period last year.

Adjusted net earnings for the latest third quarter were $1.6 million, or $0.10 per share, down from $3.1 million, or $0.19 per share in the comparable quarter last year. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 9 percent to $197.51 million from $181.41 million last year, while four analysts expected revenues of $199.55 million.

Looking ahead to the fourth quarter, the company has forecast earnings in the range of $0.98 to $1.13 per share, adjusted earnings in the order of $1.01 to $1.16 per share and sales in a range of $255 million to $265 million. Analysts currently expect the company to earn $1.04 per share on fourth-quarter revenues of $258.49 million.

For fiscal 2013, the company expects earnings to be in the range of $2.85 to $3.00 per share, adjusted earnings in the range of $2.90 and $3.05 per share and sales are currently projected in a range of $922 million to $932 million. Analysts currently expect the company to report full-year earnings of $2.99 per share on revenues of $926.64 million.

Earlier, the company expected earnings to be in the range of $2.80 to $2.95 per share, adjusted earnings in the range of $2.90 to $3.05 per share and sales in a range of $920 million to $930 million.

Further, the company announced that its Board of Directors has approved a cash dividend of $0.18 per share payable on January 31, 2014 to shareholders of record as of the close of business on January 17, 2014.