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G-III Apparel Group Ltd Raises FY 2014 Guidance; Issues Q2 2014 Guidance; Earnings Guidance Below Analysts' Estimates


Monday, 3 Jun 2013 04:01pm EDT 

G-III Apparel Group Ltd revised its prior guidance for fiscal 2014 and now expects net sales of approximately $1.57 billion and net income between $66.3 million and $68.4 million, or a range between $3.20 and $3.30 per diluted share, compared to its previous guidance of net sales of approximately $1.55 billion and net income between $64.3 million and $66.4 million, or a range between $3.10 and $3.20 per diluted share. The Company is now projecting adjusted EBITDA to increase between 14% and 17%, to between approximately $129.5 million and $132.8 million as compared to its previous guidance of between $126.5 million and $129.5 million. For the second quarter of 2014, it expects net sales of approximately $287.0 million, net income to be between $1.1 million and $2.1 million, or between $0.06 and $0.10 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.55 billion, net income of $65.5 million, EPS of $3.20 and EBITDA of $127.6 million for fiscal 2014; revenue of $282.9 million, net income of $2.6 million and EPS of $0.13 for the second quarter of 2014. 

Company Quote

97.04
-1.19 -1.21%
19 Dec 2014