Pandora Posts 34% Decline In Q1 Net Profit, Maintains 2012 Forecast

Pandora A/S PNDZY reported a 34% drop in its first-quarter net profit. However, the company maintained its forecast for 2012. Pandora's quarterly net profit dropped to DKK338 million, versus analysts' estimates of DKK241.9 million. Its earnings before interest and taxes declined 45% to DKK353 million, beating analysts' estimates of DKK285.4 million. Pandora's sales dropped 18% to DKK1.42 billion.