By  on March 15, 2012

Shares of Guess Inc. tumbled more than 10 percent in after-hours trading Wednesday as the company provided guidance that fell far short of analysts’ expectations even as it reported fourth-quarter results that matched estimates.

Hit by a 15.9 percent reduction in its European operating income, the Los Angeles-based denim and sportswear firm said that, in the three months ended Jan. 28, net income fell 7.2 percent to $95.9 million, or $1.05 a diluted share, identical to the analyst consensus estimate, from the year-ago level of $103.3 million, or $1.11. While down in Europe and flat in the company’s licensing segment, profitability improved for the company’s three other operating groups — North American retail, North American wholesale and Asia — as results benefited from a shift towards retail operations and an emphasis on full-price selling and inventory control.

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