UPDATE: Liz Claiborne, Inc. (LIZ) Reports In-Line Q4 EPS of $0.10, Reaffirms FY12 Outlook
Tweet
Share
E-mailGet Alerts LIZ Hot Sheet
Join SI Premium – FREE
(Updated - February 29, 2012 8:23 AM EST)
Liz Claiborne, Inc. (NYSE: LIZ) reported Q4 adjusted EPS of $0.10, in-line with the analyst estimate of $0.10. Net sales for the quarter came in at $447 million versus the consensus estimate of $477.5 million.
Net sales were down 2.6% from the comparable 2010 period. Pro-forma adjusted net sales, excluding the impact of net sales associated with brands that have been sold or exited but not accounted for as discontinued operations, increased 11.5% compared to the fourth quarter of 2010.
Pro-forma adjusted EBITDA for the fourth quarter of 2011 was $56 million, compared to $44 million for the fourth quarter of 2010.
Liz Claiborne also noted that Lucky Brand January comparable sales rose 29% and 21% February month-to-date. The kate spade saw January comparable sales rising 30% and 16% February month-to-date. Juicy Couture January comparable sales fell 8% and are down 2% February month-to-date.
Liz Claiborne, Inc. reaffirmed FY2012 guidance.
William L. McComb, Chief Executive Officer of Liz Claiborne Inc., said: "Pro-forma adjusted EBITDA, excluding foreign currency transaction gains or losses, of $56 million in the fourth quarter and $82 million for the full year 2011, were in line with our recently-provided outlook. We ended the year with net debt of $266, in line with our previously forecasted range of $265 to $270 million. We have continued to strengthen our balance sheet, utilizing cash on hand to purchase 140 million euro of our 5% Euro Notes since November, leaving us with 81.5 million Euro Notes outstanding today, which mature in July 2013. For fiscal 2012, we continue to forecast adjusted EBITDA, excluding foreign currency transaction gains or losses, in the range of $125 to $140 million."
For earnings history and earnings-related data on Liz Claiborne, Inc. (LIZ) click here.
Liz Claiborne, Inc. (NYSE: LIZ) reported Q4 adjusted EPS of $0.10, in-line with the analyst estimate of $0.10. Net sales for the quarter came in at $447 million versus the consensus estimate of $477.5 million.
Net sales were down 2.6% from the comparable 2010 period. Pro-forma adjusted net sales, excluding the impact of net sales associated with brands that have been sold or exited but not accounted for as discontinued operations, increased 11.5% compared to the fourth quarter of 2010.
Pro-forma adjusted EBITDA for the fourth quarter of 2011 was $56 million, compared to $44 million for the fourth quarter of 2010.
Liz Claiborne also noted that Lucky Brand January comparable sales rose 29% and 21% February month-to-date. The kate spade saw January comparable sales rising 30% and 16% February month-to-date. Juicy Couture January comparable sales fell 8% and are down 2% February month-to-date.
Liz Claiborne, Inc. reaffirmed FY2012 guidance.
William L. McComb, Chief Executive Officer of Liz Claiborne Inc., said: "Pro-forma adjusted EBITDA, excluding foreign currency transaction gains or losses, of $56 million in the fourth quarter and $82 million for the full year 2011, were in line with our recently-provided outlook. We ended the year with net debt of $266, in line with our previously forecasted range of $265 to $270 million. We have continued to strengthen our balance sheet, utilizing cash on hand to purchase 140 million euro of our 5% Euro Notes since November, leaving us with 81.5 million Euro Notes outstanding today, which mature in July 2013. For fiscal 2012, we continue to forecast adjusted EBITDA, excluding foreign currency transaction gains or losses, in the range of $125 to $140 million."
For earnings history and earnings-related data on Liz Claiborne, Inc. (LIZ) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
- MapLight Therapeutics, Inc. (MPLT) Misses Q2 EPS by 33c
- CaliberCos Inc (CWD) Misses Q2 EPS by 43c; Offers Guidance
Create E-mail Alert Related Categories
EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
