G-III Apparel Group (NASDAQ: GIII) reported Q3 EPS of $1.67, $0.13 better than the analyst estimate of $1.54. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.03 billion.

Outlook

The Company today increased its prior net income guidance for the full fiscal year ending January 31, 2018. The Company continues to forecast net sales of approximately $2.80 billion and is now forecasting net income between $66 million and $71 million, or between $1.33 and $1.43 per diluted share. The Company previously forecasted net income between $56 million and $60 million, or between $1.11 and $1.21 per diluted share.

The Company’s forecast includes Donna Karan-related transitional expenses of approximately $1.8 million and non-cash imputed interest expense of approximately $5.7 million. On an adjusted basis, excluding transitional and imputed interest expenses, the Company now anticipates non-GAAP net income of between approximately $71 million and $76 million, or between $1.42 and $1.52 per diluted share. The Company’s previous forecast was for non-GAAP net income of between approximately $64 million and $69 million, or between $1.28 and $1.38 per diluted share.

GUIDANCE:

G-III Apparel Group sees FY2018 EPS of $1.33-$1.43, versus the consensus of $1.35. G-III Apparel Group sees FY2018 revenue of $2.8 billion, versus the consensus of $2.8 billion.

For earnings history and earnings-related data on G-III Apparel Group (GIII) click here.