Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
25 April, 2024 13:33 IST
Guess fourth-quarter earnings plunge by 86.25 percent on a YOY basis
Source: IRIS | 16 Mar, 2017, 02.02PM

Powered by IRIS XBRL Data
Rating: NAN / 5 stars.
Comments  |  Post Comment


Guess, Inc. (GES) has reported an 86.25 percent plunge in profit for the quarter ended Jan. 28, 2017. The company has earned $6.57 million, or $0.08 a share in the quarter, compared with $47.78 million, or $0.57 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $34.57 million, or $0.41 a share compared with $47.95 million or $0.57 a share, a year ago.

Revenue during the quarter grew 3.19 percent to $679.27 million from $658.26 million in the previous year period. Gross margin for the quarter contracted 168 basis points over the previous year period to 34.80 percent. Total expenses were 96.91 percent of quarterly revenues, up from 89.37 percent for the same period last year. That has resulted in a contraction of 754 basis points in operating margin to 3.09 percent.

Operating income for the quarter was $20.99 million, compared with $69.96 million in the previous year period.

Victor Herrero, chief executive officer, commented, "Despite continued softness in the Americas, we are pleased to report that fourth quarter revenues for the company were up 3%, driven by strong double digit growth in both Europe and Asia. In Europe, our revenues were up 11% driven by new store openings and another good quarter of positive comp store sales. Turning to Asia, revenues finished up 27% driven by new store openings and positive comp store sales in China. We are encouraged by the progress we are making in these two regions and will continue to allocate the majority of our capital investment there."

For fiscal year 2018, Guess, Inc. expects revenue to grow in the range of 2 percent to 4 percent. It expects operating income to grow in the range of 2.20 percent to 3 percent. It projects diluted earnings per share to be in the range of $0.28 to $0.40 for the same period.

For the first-quarter, Guess, Inc. expects operating income to decline in the range of 7 percent to 6 percent. It forecasts diluted loss per share to be in the range of $0.33 to $0.30 for the same period.


Operating cash flow drops significantly
Guess, Inc. has generated cash of $71.46 million from operating activities during the year, down 60.18 percent or $107.97 million, when compared with the last year.

The company has spent $49.99 million cash to meet investing activities during the year as against cash outgo of $73.74 million in the last year.

The company has spent $68.75 million cash to carry out financing activities during the year as against cash outgo of $127.74 million in the last year period.

Cash and cash equivalents stood at $396.13 million as on Jan. 28, 2017, down 11.08 percent or $49.35 million from $445.48 million on Jan. 30, 2016.


Debt increases substantially
Guess, Inc. has witnessed an increase in total debt over the last one year. It stood at $
24.05 million as on Jan. 28, 2017, up 279.19 percent or $17.71 million from $6.34 million on Jan. 30, 2016. Total debt was 1.57 percent of total assets as on Jan. 28, 2017, compared with 0.41 percent on Jan. 30, 2016. Debt to equity ratio was at 0.02 as on Jan. 28, 2017, up from 0.01 as on Jan. 30, 2016. Interest coverage ratio deteriorated to 50.09 for the quarter from 140.76 for the same period last year.


Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
 Post Comment
Name Email
Comment
Security Code type    into this box
US Equities
Innodata Isogen swings to first-quarter loss on a YOY basis - 10-Jul-2017 03:29
Echelon Corp first-quarter loss widens on a YOY basis - 09-Jul-2017 20:32
Diversicare Healthcare Services swings to first-quarter profit on a YOY basis - 09-Jul-2017 19:51
Dextera Surgical third-quarter loss widens on a YOY basis - 09-Jul-2017 18:20
Open Text Corp third-quarter earnings plunge by 68.72 percent on a YOY basis - 09-Jul-2017 15:17
NAPCO Security Technologies third-quarter earnings decline by 12.19 percent on a YOY basis - 09-Jul-2017 14:31
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Alaska Communications Systems Group swings to first-quarter loss on a YOY basis - 09-Jul-2017 12:00
Delcath Systems first-quarter loss widens on a YOY basis - 08-Jul-2017 18:33
Edgewater Technology first-quarter loss widens on a YOY basis - 08-Jul-2017 16:21
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer