Polo Ralph Lauren's
fourth-quarter earnings more than doubled from a year ago, when results were weighed down by charges.
For the quarter ended April 1, the New York-based fashion company earned $62.5 million, or 58 cents a share. A year earlier, Polo Ralph Lauren reported a profit of $23.4 million, or 22 cents a share, including a litigation charge of about $100 million. Excluding the charge, year-ago earnings would have been $86 million, or 2 cents a share.
Analysts polled by Thomson First Call were expecting earnings of 57 cents a share for the latest quarter.
Fourth-quarter revenue rose 7.7% from a year ago to $971.6 million, topping analysts' expectation of $954.5 million.
By segment, fourth-quarter revenue from the wholesale division rose 5.7% from a year ago to $573.8 million, and sales from the retail segment increased 15% to $334.9 million. Revenue from licensing fell 7.1% to $62.9 million.
Polo Ralph Lauren reaffirmed its February forecast for fiscal 2007 earnings of $3 a share to $3.10 a share, including stock option expense. The company expects consolidated revenue to rise in the low-double-digit percent range. Analysts forecast earnings of $3.13 a share for fiscal 2007.
The company's stock rose 83 cents, or 1.5%, to $56.52 Thursday.
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