Michael Kors quarterly sales rise 57 percent

Wed May 29, 2013 7:22am EDT

May 29 (Reuters) - High-end clothing and accessories maker Michael Kors Holdings Ltd reported a 57 percent rise in quarterly sales as demand for its products increased around the world.

The company said its fourth-quarter net income more than doubled to $101.1 million, or 50 cents per share, from $43.6 million, or 22 cents per share, a year earlier.

Excluding a $2 million credit related to expenses for its initial public offering in December 2011, net income was 21 cents per share.

Revenue at the company was $597.2 million.

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