By  on November 19, 2008

The Calvin Klein licensing business helped ease Phillips-Van Heusen Corp.’s third-quarter profit decline, although the company lowered full-year earnings estimates because of the strengthening dollar and the weakened global economy.

For the three months ended Nov. 2, net income fell 11.8 percent to $53.7 million, or $1.03 a diluted share, from $60.9 million, or $1.05, in the same year-ago quarter. Excluding the operating results and exit costs connected with the firm’s Geoffrey Beene outlet retail operation, earnings were $1.10 a share, exceeding analysts’ consensus estimates of $1.07 for the quarter. Total revenues for the period, including those from royalties and other sources such as advertising, rose 4.5 percent to $727.5 million from $696.4 million. Revenues included a sales gain of 4.1 percent to $636.2 million from $611.4 million.

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