Apparel maker Polo Ralph Lauren Corporation ( RL
The New York-based company reported fiscal fourth quarter net income of $114.1 million, or $1.13 per share, compared with $44.5 million, or 44 cents per share, in the year-ago period. Sales rose 9% from last year, to $1.29 billion.
On average, Wall Street analysts expected a much smaller profit of 64 cents per share, on lower revenue of $1.25 billion.
Looking ahead, the company forecast first quarter consolidated revenue to rise in the low double-digits, with full-year 2010 revenue rising in the mid-single digits.
Polo shares fell $1.28, or -1.5%, in premarket trading Wednesday.
The Bottom Line
Shares of RL have a dividend yield of .47%, based on last night's closing stock price of $85.78. The stock has technical support in the $77-$80 price area. If the shares can firm up, we see overhead resistance around the $90-$95 price levels. We would remain on the sidelines for now.
Polo Ralph Lauren Corporation ( RL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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