UPDATE: Fossil Q4 Profit Rises 28%

Fossil

reported a 28% gain in its fourth-quarter net profit. Fossil's quarterly earnings surged to $151.1 million, or $2.51 per share, versus $117.9 million, or $1.87 per share, in the year-ago period. On an adjusted basis, it earned $2.27 a share. Its revenue climbed 14% to $947.7 million. However, analysts were expecting earnings of $2.26 a share on revenue of $930.4 million. Fossil shares gained 1.32% to $108.88 in pre-market trading.