NEW YORK — Fossil Inc. posted a nearly 20 percent jump in third-quarter profits Tuesday, beating analysts’ expectations, but the watchmaker reduced its fourth-quarter earnings guidance to reflect a weaker economy and pressure from the strengthening U.S. dollar.
For the quarter ended Oct. 4, net income for the Richardson, Texas-based company increased 19.8 percent to $36.5 million, or 54 cents a diluted share, from $30.5 million, or 43 cents a share, in the year-ago period. Net sales grew 14.3 percent to $409.8 million from $358.6 million. Analysts estimated EPS of 49 cents on sales of $402 million, according to Yahoo Finance.
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