NEW YORK — Boosted by astronomical sales gains in Europe and elsewhere on the international front, Fossil Inc. on Tuesday reported double-digit gains in both sales and profits for the fourth quarter and year.

For the three months ended Jan. 4, income leaped 48.3 percent to $23.3 million, or 48 cents a diluted share, from $15.7 million, or 33 cents, in the year-ago quarter. Excluding a $2.9 million one-time charge in 2001, income climbed a more modest 25.4 percent. Sales for the most recent quarter rose 20.6 percent to $212.4 million from $176.1 million. Gross profit grew 22.6 percent to $109.5 million, or 51.6 percent of sales, versus $89.4 million, or 50.7 percent of sales, last year.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus