By  on May 6, 2015

Accessories brand Tumi Holdings Inc. posted a decline in first-quarter profits.

For the three months ended March 29, the company said net income fell 21.8 percent to $6.4 million, or 9 cents a diluted share, compared with net income of $8.2 million, or 12 cents, a year ago. On an adjusted basis, diluted earnings per share met Wall Street’s consensus estimate of 12 cents. Net sales for the period rose 1.7 percent to $110.5 million from $108.6 million.

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