UPDATE: Michael Kors Posts Rise In Q4 Profit, Issues Upbeat Forecast

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Michael Kors Holdings Ltd
KORS
reported a rise in its fourth-quarter profit. Michael Kors posted its quarterly profit at $43.6 million, or $0.22 per share, versus $13.6 million, or $0.10 per share, in the year-earlier period. Its adjusted profit came in at $0.21 per share. Revenue climbed to $380 million from $240 million. However, analysts were expecting earnings of $0.16 per share on revenue of $361 million. Michael Kors projects Q1 profit of $0.18 to $0.20 per share. It also expects FY13 profit of $1.08 to $1.12 per share. Analysts were projecting earnings of $0.17 per share for the first quarter and $0.98 per share for the year. Michael Kors shares surged 12.02% to $42.77 in pre-market trading.
Posted In: EarningsNewsGuidanceprofit
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