UPDATE: Fossil Posts Upbeat Q4 Profit, Issues Weak Q1 Forecast

Fossil Inc (NASDAQ: FOSL) posted better-than-expected fourth-quarter profit, but issued downbeat earnings forecast for the first quarter.

Fossil projects Q1 earnings of $0.90 to $0.92 per share, versus analysts' estimates of $0.98 per share.

Fossil's quarterly earnings climbed to $117.9 million, or $1.87 per share, from $96.7 million, or $1.46 per share, in the year-earlier period. The company's revenue climbed 18.5% to $830.8 million.

Analysts were expecting earnings of $1.77 per share on revenue of $841.1 million.

Fossil shares dropped 3.64% to $100.70 in pre-market trading.