Perry Ellis (NASDSAQ:PERY) swung to a second-quarter profit over a year ago loss as demand for womens dresses and mens golf products ticked higher, leading the company to raise its fiscal view.
Reflecting the strong results, Perry Ellis lifted its fiscal earnings guidance to a range of $2.45 to $2.52 a share, up from its earlier view between $2.40 to $2.50 a share. Wall Street is looking for $2.49 a share.
The Miami-based maker of brands such as Axis, Grand Slam and Girl Star, and licensor of the PGA Tour brand and Nike swimwear, posted net income for the second quarter of $1.8 million, or 11 cents a share, up 194% compared with a year-ago loss of $1.9 million, or 15 cents a share, in the same quarter last year.
Analysts polled by Thomson Reuters had been expecting a profit of just 4 cents a share.
Revenue for the three months ended July 30 was $214.4 million, up from $161.7 million a year ago, beating the Streets view of $203.9 million.
The company attributed the results to strength within mens golf, womens dresses under Laundry by Shelli Segal and solid increases in the U.K. and Mexico.
Expansion of our core businesses and the addition of Rafaella womens sportswear resulted in a strong profit for the second quarter, Perry Ellis chief executive, Oscar Feldenkreis said in a statement.
Our efforts in expanding our international footprint are beginning to gain strong traction, he said.