Oxford Industries Q1 Profit Falls

Oxford Industries OXM released its fiscal first-quarter earnings results after the closing bell on Tuesday. The company reported net income of $18.0 million or $1.09 per share, compared to $18.1 million or $1.10 per share, in the year ago period. On an adjusted basis, the company reported net income of $18.5 million or $1.12 per share, versus $17.7 million or $1.07 per share, in last year's corresponding quarter. This compared to analysts' consensus EPS estimates of $1.07. Net sales in the quarter were up 11 percent to $230.95 million compared to $208.31 million last year. This compared to consensus revenue estimates of $230.18 million. Looking ahead to the second-quarter, the company sees earnings per share between $0.23 to $0.28 and adjusted earnings per share of $0.60 to $0.65. Net sales are anticipated to be between $200 million to $210 million. Currently, analysts expect for Oxford Industries to report EPS of $0.61 on revenues of $202.67 million for the fiscal second-quarter. For fiscal 2012, the company raised its full-year outlook for net sales and adjusted earnings per share. The company now sees adjusted EPS of $2.85 to $2.95 on net sales of $850 to $865 million. This compares to Oxford's prior guidance of $2.70 to $2.80 in adjusted EPS and net sales of $840 to $855 million. Analysts current expect for Oxford to earn $2.76 per share on revenue of $847.44 million for fiscal 2012. In the after-hours trading session, OXM shares are flat at $43.84.