By  on June 1, 2007

In line with its expectations, Movado posted a drop in first-quarter earnings and a slight gain in sales on Thursday.

First-quarter earnings fell 15.9 percent to $2.4 million, or 9 cents per diluted share, from $2.9 million, or 11 cents per diluted share, during the same period last year. Sales for the quarter increased 3.7 percent to $101.4 million from $97.7 million last year.

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