PVH Q1 Turns To Profit In Q1; Cuts FY14 EPS Outlook - Quick Facts

(RTTNews) - PVH Corp. (PVH) Wednesday reported first-quarter net income attributable to the company of $35.3 million or $0.42 per share, compared to net loss of $10.3 million or $0.13 per share in the comparable quarter last year.

Adjusted net income attributable to the company was $122.1 million or $1.47 per share, compared to $155.6 million or $1.91 per share in the prior year period. On average, 21 analysts polled by Thomson Reuters expected the company to earn $1.49 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $1.96 billion from $1.91 billion last year, while sixteen analyst expected revenue of $1.98 billion.

Looking ahead to the second quarter, the company projects adjusted earnings of $1.40 per share to $1.45 per share, with revenues of approximately $2.0 billion. Analysts currently expect the company to earn $1.48 per share on revenues of $2.00 billion for the second quarter.

For the fiscal 2014, the company now expects adjusted earnings in the range of $7.30 per share to $7.40 per share, down from its prior range of $7.40 per share to $7.50 per share. Analysts currently expect the company to report full-year earnings of $7.51 per share.

The company continues to expect revenue of $8.5 billion. Analysts currently expect the company to report full-year revenues of $8.50 billion.