Perry Ellis International Inc. on Monday updated guidance for its 2011 earnings and provided an initial outlook for 2012 results.
The company said it expects to post adjusted earnings of between $1.82 and $1.85 a diluted share for the year ended Jan. 29. That compares with adjusted diluted EPS for fiscal year 2010 of $1.02. The adjustments exclude costs linked to its January acquisition of certain assets of Rafaella Apparel Group and in 2010 for impairment charges of certain retail store leaseholds.
In November, Perry Ellis lifted its full-year earnings guidance to a range of $1.72 to $1.80 a diluted share from an earlier span of $1.53 to $1.68.
For the fourth quarter of fiscal year 2011, Perry Ellis said it expects to report adjusted diluted EPS between 66 cents and 69 cents, versus 65 cents in the year-ago quarter.
Under generally accepted accounting principles, the company expects to post full-year EPS between of $1.67 and $1.70, compared with $1.01 for fiscal year 2010, and EPS of between 51 cents and 54 cents for the fourth quarter, versus 64 cents last year.
Full-year revenue is expected at $790 million, in line with previous guidance of revenue in excess of $785 million.
Oscar Feldenkreis, chairman and chief executive officer, said that the company “continues to see the favorable momentum from [fiscal] 2011 continue, which has us extremely well positioned to fuel organic revenue gains of at least 10 percent.
The company forecasted full fiscal year 2012 diluted EPS in the range of $2.50 to $2.65, and revenues to reach $1 billion.