* Q4 EPS $0.64 vs est $0.59
* Total revenue up 3 pct, misses market view * Sees FY11 EPS
$1.25-$1.40 vs est $1.37
* Shares fall 4 percent
(Recasts; adds details, analyst comments, share movement)
By Viraj Nair
BANGALORE, March 19 Perry Ellis International
Inc's (PERY.O) quarterly profit surpassed Wall Street estimates
as it continued to keep a tight lid on costs, and the clothing
maker backed its outlook for the current financial year.
The Miami-based company's shares, which have jumped 16
percent over the past month, rose 2 percent to a year-high of
$23.44 on Nasdaq. However, they later pared their gains and
were trading down 4 percent at $21.94.
"I think the stock has had a great run and it's just
selling on the news... I guess people are just taking profits
today," Brean Murray Carret & Co analyst Eric Beder said.
He added that the company's outlook for fiscal 2011 looks
For fiscal 2011, Perry Ellis, which also distributes
accessories and fragrances, projected earnings of $1.25 to
$1.40 a share on revenue of $770 million to $790 million.
Analysts on average were looking for a profit of $1.37,
before items, on revenue of $786.4 million, according to
Thomson Reuters I/B/E/S.
Analyst Beder said the company's new golf apparel contract
with Callaway Golf Co (ELY.N) and license agreement with Pierre
Cardin are going to be big sales drivers this year.
"There is still significant topline growth and margin
expansion ahead this year," Beder said.
The company said it benefited from initial shipments of its
Callaway spring products in the fourth quarter.
For the quarter ended Jan. 30, Perry Ellis earned $8.5
million, or 64 cents a share, compared with a loss of $21.6
million, or $1.58 a share, a year ago.
Total revenue rose 3 percent to $196.4 million.
Analysts were expecting earnings of 59 cents a share on
revenue of $198.9 million.
The company cut selling, general and administrative
expenses by 9 percent to $49.6 million. Gross margins improved
to 35.5 percent from 29 percent, boosted by reduced markdowns
and strength in branded businesses.
(Reporting by Viraj Nair in Bangalore; Editing by Anne