Apparel maker Guess?, Inc. ( GES ) late Thursday said its third quarter profit fell from last year on higher costs, missing analyst estimates.
The Los Angeles-based company reported third quarter net income of $66.3 million, or 71 cents per share, compared with $69.1 million, or 75 cents per share, in the year-ago period.
Revenue rose 5% from last year to $642.8 million.
On average, Wall Street analysts expected a higher profit of 73 cents per share, on larger revenue of $657.2 million.
Looking ahead, the company forecast fourth quarter earnings of $1.03 to $1.09 per share, on $780 million to $795 million in revenue. Those estimates would miss analysts' view for $1.21 per share on revenue of $820.2 million.
For the full fiscal year 2012, GES projects earnings of $2.85 to $2.91, with revenue ranging from $2.7 billion to $2.71 billion. Those totals would badly miss Wall Street's estimates of $3.25 per share on revenue of $2.75 billion.
Guess shares fell 22 cents, or -0.8%, in premarket trading Thursday.
The Bottom Line
Shares of Guess ( GES ) have a 2.84% dividend yield, based on last night's closing stock price of $28.12. The stock has technical support in the $24-$25 price area. If the shares can firm up, we see overhead resistance around the $30-$35 price levels.
Guess?, Inc. ( GES ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
Created by Dividend.com