The Company is raising its annual earnings guidance for the fiscal year ending June 30, 2010, and now expects earnings per diluted share to be in the range of $0.63 to $0.73. The Company's guidance for net sales for fiscal 2010 is for net sales to increase by 2.5% to 3.5%, as compared to the prior fiscal year. For the third quarter of fiscal 2010, the Company expects net sales of $210 million to $217 million and a net loss per diluted share of $0.15 to $0.19. The earnings guidance for the third fiscal quarter reflects a higher proportion of advertising and promotional spend as compared to the third fiscal quarter of fiscal 2009.
The guidance assumes January 2010 foreign currency rates and excludes restructuring and other expenses associated with the Company's Global Efficiency Re-engineering initiative. The Company notes that the ongoing global economic uncertainty may continue to have a negative effect on retailer and consumer confidence and demand, and, along with the foreign currency volatility, makes forecasting difficult. The Company believes that net sales and earnings guidance, excluding the impact of foreign currency and restructuring and other expenses associated with the Company's Global Efficiency Re-engineering initiative, as applicable, facilitates period to period comparisons of the Company's operating and financial performance on a consistent basis.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
