NEW YORK, March 1 (Reuters) - Apparel maker Warnaco Group Inc reported higher-than-expected quarterly profit on Monday, helped by lower expenses and higher margins.
The maker of Calvin Klein underwear and Speedo swimsuits said net income was $11.0 million, or 23 cents per share, in the fourth quarter. A year earlier it reported a net loss of $16.3 million, or 35 cents per share.
Excluding items, earnings were 64 cents per share, topping analysts' average estimate of 57 cents per share, according to Thomson Reuters I/B/E/S.
Revenue was $505.4 million, up from $445.3 million a year earlier.
The company said it expects to earn $3.10 to $3.20 per share in 2010 on net revenue expected to grow 5 percent to 7 percent from the $2.02 billion in revenue it had in 2009.
Analysts on average were expecting earnings of $3.20 per share on revenue of $2.13 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Martinne Geller; editing by Gunna Dickson)
((Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023)) Keywords: WARNACO/ (http://blogs.reuters.com/shop-talk/ for Shop Talk -- Reuters' retail and consumer blog) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The maker of Calvin Klein underwear and Speedo swimsuits said net income was $11.0 million, or 23 cents per share, in the fourth quarter. A year earlier it reported a net loss of $16.3 million, or 35 cents per share.
Excluding items, earnings were 64 cents per share, topping analysts' average estimate of 57 cents per share, according to Thomson Reuters I/B/E/S.
Revenue was $505.4 million, up from $445.3 million a year earlier.
The company said it expects to earn $3.10 to $3.20 per share in 2010 on net revenue expected to grow 5 percent to 7 percent from the $2.02 billion in revenue it had in 2009.
Analysts on average were expecting earnings of $3.20 per share on revenue of $2.13 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Martinne Geller; editing by Gunna Dickson)
((Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023)) Keywords: WARNACO/ (http://blogs.reuters.com/shop-talk/ for Shop Talk -- Reuters' retail and consumer blog) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
