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G-III Apparel Group Ltd Raises FY 2013 Earnings Guidance; Lowers FY 2013 Revenue Guidance


Wednesday, 5 Dec 2012 07:00am EST 

G-III Apparel Group Ltd announced that it has revised its prior guidance for fiscal 2013. The Company is now forecasting net sales of approximately $1.39 billion compared to previous guidance of $1.41 billion and net income between $55.5 million and $57.6 million, or between $2.71 and $2.81 per diluted share, compared to its previous guidance of net income between $55.2 million and $57.2 million, or between $2.68 and $2.78 per diluted share. The forecasted net income and net income per share for the full fiscal year reflect the expenses and integration costs of the Vilebrequin acquisition incurred through October 31, 2012, but do not reflect any additional expenses or integration costs related to this acquisition that may be incurred in the fourth quarter of the fiscal year. The Company also revised its forecasted Non-GAAP net income per diluted share for the full fiscal year to $2.82 to $2.92 compared to its previous guidance of between $2.74 and $2.84. The Company is now projecting adjusted EBITDA for fiscal 2013 to increase approximately 20% to 24% to between approximately $110.8 million and $114.2 million compared to $92.4 million in fiscal 2012 and an increase from its previous guidance of adjusted EBITDA of between approximately $108.2 million and $111.5 million. 

Company Quote

74.88
0.9 +1.22%
24 Oct 2014