• Net revenue from the Company's Asia segment increased 18.3% to $64.8 million in the third quarter of fiscal 2012, from $54.8 million in the prior-year period. In constant dollars, net revenue increased 14.8%. • Net revenue from the Company's North American Wholesale segment increased 1.9% to $57.3 million in the third quarter of fiscal 2012, from $56.3 million in the prior-year period. • Licensing segment net revenue increased 3.2% to $34.0 million in the third quarter of fiscal 2012, from $33.0 million in the prior-year period.
Operating earnings for the third quarter of fiscal 2012 increased 4.6% to $97.0 million (including a $3.3 million favorable currency translation impact) from $92.7 million in the prior-year period. Operating margin in the third quarter was flat at 15.1% compared to the prior-year quarter as higher product margins and an improved SG&A rate offset the impact of a higher occupancy rate.
Product margins improved primarily due to lower markdowns in North American Retail while the occupancy deleverage was driven by retail expansion and negative comparable store sales. The SG&A rate decreased as lower performance-based compensation expenses and North American retail store selling expenses more than offset the negative impact of lower international jewelry shipments and higher advertising expenses.
Other net income, which primarily includes net unrealized mark-to-market gains on foreign currency contracts and balances, partially offset by net unrealized losses on non-operating assets, was $1.9 million for the third quarter of fiscal 2012, compared to other net income of $5.9 million in the third quarter of the prior year.
The Company's reported effective tax rate increased to 32.3% in the third quarter of fiscal 2012, from 29.1% for the third quarter of the prior year.