UPDATE: Fossil Group (FOSL) Misses Q1 EPS by 17c, Offers Guidance
Fossil Group (NASDAQ: FOSL) reported Q1 EPS of ($0.99), $0.17 worse than the analyst estimate of ($0.82). Revenue for the quarter came in at $569 million versus the consensus estimate of $538.49 million.
GAAP Guidance For fiscal 2018, the Company expects the following:
• Net sales in the range of (12)% to (5)% • Gross margin in the range of 51% to 53% • Operating expenses as a percent of net sales, including restructuring charges, ranging from 48.5% to 50.5% • Operating margin in the range of 0.5% to 4.5% • Other income (expense) of approximately $(10) million based on prevailing currency rates • Interest expense of approximately $50 million • Income (loss) before income taxes in the range of $(40) million to $50 million
For the second quarter of fiscal 2018, the Company expects the following: • Net sales in the range of (11)% to (4)% • Gross margin in the range of 51.5% to 53.5% • Operating expenses as a percent of net sales, including restructuring charges, ranging from 55.5% to 58.0% • Operating margin in the range of (6.5)% to (2.0)% • Other income (expense) of approximately $(3) million based on prevailing currency rates • Interest expense of approximately $13 million • Income (loss) before income taxes in the range of $(50) million to $(30) million
Non-operational and Non-GAAP Items For fiscal 2018: • Restructuring charges of approximately $55 million • Adjusted EBITDA of $175 million to $225 million
For the second quarter of fiscal 2018: • Restructuring charges of approximately $18 million • Adjusted EBITDA of $0 million to $30 million
For earnings history and earnings-related data on Fossil Group (FOSL) click here.