NEW YORK (TheStreet) -- Perry Ellis International(PERY) - Get Report shares are down 0.21% to $23.60 in early market trading on Thursday after the apparel company reported its fourth quarter financial results before the opening bell today.
For the quarter the company reported a net loss of $42.9 million, or earnings of 7 cents per diluted share on an adjusted basis, on revenue of $217.7 million. Analysts on average were expecting the company to report earnings of 3 cents per share on revenue of $217.6 million.
Shares are falling despite the earnings beat due to the company almost doubling its net loss of $28.2 million from the same period last year.
The Doral, FL-based company lowered its outlook for the quarter in February saying that the west coast port disruptions would have a negative impact on its financial results during the period. Due to the disruptions, shipments intended for the fourth quarter came in too late resulting in customers receiving their products more than two weeks late.
TheStreet Ratings team rates ELLIS PERRY INTL INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELLIS PERRY INTL INC (PERY) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: PERY Ratings Report