Fossil Quarter on Target

It will be late with filings, though.
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Fossil (FOSL) - Get Report beat third-quarter targets but warned that it won't be able to make its regulatory filings on time as it probes its past stock option accounting.

The Richardson, Texas, watchmaker made $22 million, or 32 cents a share, for the third quarter. Sales rose to $299.7 million from $257.5 million a year earlier.

Analysts surveyed by Thomson Financial were looking for a 31-cent profit on sales of $286 million.

The company estimates net sales growth in the low double-digit range for the fourth quarter of fiscal year 2006. Fossil expects its 2006 fourth quarter gross profit margin will be slightly higher than its gross profit margin reported for the fourth quarter of 2005.