EmailPhillips-Van Heusen (PVH $65.97) reports first quarter earnings of
$1.23 per share, excluding non-recurring items, $0.07 better than the Thomson
Reuters consensus of $1.16.
Revenues rose 121.3% year/year to $1.37 billion versus the $1.34 billion
consensus. The revenue increase of $750.1 million, or 121%, is principally
attributable to (i) $715.4 million of revenue generated by the Company's Tommy
Hilfiger business, which was acquired in the second quarter of 2010; and (ii) an
increase of $35.5 million, or 17%, in the revenue of the Company's Calvin Klein
business.
For the second quarter, the company expects to see earnings in the range of
$0.93 to $0.95 versus the $0.91 Thomson Reuters consensus and sees revenues of
$1.27 billion to $1.29 billion versus the $1.19 billion Thomson Reuters
consensus.
In fiscal year 2012, the company guided earnings at $4.80 to $5.00 versus the
$4.90 Thomson Reuters consensus. On the top line, the company expects revenue to
be $5.70 billion to $5.75 billion versus the $5.66 billion Thomson Reuters
consensus.
than one year.
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