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UPDATE: Perry Ellis Posts Upbeat Q4 Profit

By Insider Scoop
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Courtesy of Benzinga.

Perry Ellis International Inc (NASDAQ: PERY) reported a better-than-expected fourth-quarter profit.

Perry Ellis’ quarterly profit dropped to $1.8 million, or $0.12 per share, from $7.7 million, or $0.54 per share, in the year-ago period. Excluding items, Perry Ellis earned $0.38 per share. Its sales climbed 11% to $229.4 million.

Analysts were expecting earnings of $0.37 per share on revenue of $229.3 million.

For fiscal 2013, Perry Ellis projects adjusted earnings of $1.95 to $2.00 per share, on revenue of $990 million to $1 billion. However, analysts were projecting earnings of $2.14 per share on revenue of $1.03 billion.

Perry Ellis shares closed at $17.89 yesterday.

(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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