U.S. Apparel G-III Second Profit Fell 13%

U.S.A

G-III Apparel Group Ltd, the maker of the financial report, reported a 13% drop in net profit in the second quarter, which offset the growth in revenue with the recent acquisition related expenses.

However, this performance is still better than market expectations, and the company also raised its annual performance expectations.

In the fiscal quarter ending July 31st, the net profit of the company fell to $1 million 400 thousand, or 7 cents per share, from 1 million 600 thousand cents a share, or 8 cents a share.

Excluding swimsuits for men's purchase

Vilebrequin related expenses, the company adjusted quarterly earnings per share of 13 cents, higher than the average FactSet surveyed 7 cents.

Revenue grew 9%, from $230 million in the same period last year to $252 million, slightly higher than analysts' average forecast of $251 million.

For the current fiscal year ending January 31st next year, G-III now expects earnings per share of 2.68-2.78 dollars, higher than previously expected 2.62-2.72 dollars.

Excluding one-time items, the company now expects earnings of 2.74-2.84 dollars per share adjusted for the year, up from analysts' average of $2.71.

The company will also

It is expected to rise from about $1 billion 350 million to about $1 billion 410 million, higher than analysts' average estimate of $1 billion 360 million.

G-III expects earnings per share of 2.25-2.35 dollars in the third quarter, and its revenue is about $570 million.

Analysts expect the company to earn $2.34 a share in the fiscal season and $551 million in revenue.