Reebok Tops Estimates, but Forex Kept Sales in Check

Earnings Scorecard
Actual	Estimated*	Year-Ago
$0.11	$0.07	-$0.26

Reebok (RBK Quote - Cramer on RBK - Stock Picks) reported fourth-quarter earnings this morning that handily beat Wall Street's slightly raised estimates by 4 cents a share.

For the fourth quarter ended Dec. 31, Reebok earned $6.2 million, or 11 cents a diluted share. In the year-ago period, the sports apparel and sneaker maker lost $14.7 million, or 26 cents a share. Nine analysts surveyed by First Call/Thomson Financial expected the company, which is based in Canton, Mass., to earn 7 cents a share in the latest quarter.

However, Reebok posted a stagnant top line for the fourth quarter, reporting sales of $622.5 million, slightly below the $622.8 million in the year-ago period. The company said "sales comparisons are being adversely affected by the weakening exchange rates of foreign currencies against the dollar over the past year."

Shares of Reebok rose $1.86, or 6.8%, to $29.10 in recent New York Stock Exchange trading.