VF Corp. Q3 Profit Rises; Lifts FY14 EPS Outlook - Quick Facts

(RTTNews) - VF Corporation (VFC) reported that its third-quarter net income increased to $470.5 million or $1.08 per share, from $433.8 million or $0.97 per share, previous year.

On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $1.09 for the quarter. Analysts' estimates typically exclude special items.

Net sales rose 7% to $3.52 billion from $3.30 billion, while 21 analysts expected revenue of $3.57 billion for the quarter.

For the full year 2014, the company said it now expects earnings of $3.08 per share, up from its prior expectation of $3.06 per share. Analysts now expect earnings of $3.10 per share.

The company continues to expect revenues to increase 8 percent, and gross margin and operating margin is expected to reach 49 percent and 15 percent, respectively.

On Oct. 16, 2014, VF's Board of Directors declared a quarterly dividend of $0.32 per share, reflecting a 22 percent increase over the previous quarter's dividend. This dividend will be payable on Dec. 19, 2014 to shareholders of record at the close of business on Dec. 9, 2014.