By  on March 22, 2010

Phillips-Van Heusen Corp. on Monday said it swung to a fourth-quarter profit compared with a year-ago loss.

For the three months ended Jan. 31, the company earned $27 million, or 51 cents a diluted share, against a loss of $37.9 million, or 74 cents, in the year-ago quarter. Excluding adjustments, such as restructuring costs, the profit more than doubled to $32.5 million, or 61 cents a diluted share, from $15.7 million, or 30 cents, a year ago. On an adjusted basis, the consensus among analysts was for earnings per share of 59 cents.

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