Guess? Beats First-Quarter Views, Lowers Guidance - TheStreet

Clothing retailer

Guess?

(GES) - Get Report

lost $3.2 million, or 7 cents a share, before a charge in the first quarter and said full-year results would trail forecasts.

Analysts were expecting a first-quarter loss of 9 cents a share. Including charges, Guess lost $3.6 million, or 8 cents per share, compared with earnings of $2.1 million, or 5 cents per share in the year-earlier period. First quarter revenue fell to $138.2 million from $170.1 million in the year-earlier period.

Looking ahead, the company expects 2002 revenue to fall 10% to 13%. It expects to earn 10 cents to 16 cents a share for the year and to lose 12 cents to 14 cents a share in the second quarter. It expects third-quarter earnings of 11 cents to 13 cents and fourth-quarter earnings of 21 cents to 23 cents.