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Liz Claiborne reports Q2, six month sales & EPS
26 Jul '06
4 min read
Net sales for the second quarter of 2006 were $1.125 billion, an increase of $26 million, or 2.4%, compared to the second quarter of 2005. Gross profit increased $19 million, or 3.6%, to $548 million in the second quarter of 2006 over the second quarter of 2005.
Net income in the second quarter of 2006 decreased to $39 million, or 3.5% of net sales, from $54 million, or 4.9% of net sales, in the second quarter of 2005. Diluted earnings per common share decreased to $0.38 in 2006 from $0.50 in 2005, a 24.0% decrease.
Net sales for the six months of 2006 were $2.296 billion, a decrease of $15 million, or 0.7%, compared to the six months of 2005. Gross profit increased $5 million, or 0.4%, to $1.093 billion in the six months of 2006 over the six months of 2005, including a $9 million decrease in 2006 resulting from the impact of foreign currency exchange rates, primarily as a result of the weakening of the euro, in our international businesses.
Net income in the six months of 2006 decreased to $86 million, or 3.8% of net sales, from $126 million, or 5.4% of net sales, in the six months of 2005. Diluted earnings per common share decreased to $0.83 in 2006 from $1.15 in 2005, a 27.8% decrease.
For fiscal 2006, the company is reaffirming its previous guidance, projecting net sales to increase low single digits compared to fiscal 2005, an operating margin in the range of 9.2 - 9.6% and EPS in the range of $2.58 - $2.73.
For the third quarter of 2006, it is projecting net sales to increase low single digits compared to the third quarter of 2005, an operating margin in the range of 11.3 - 11.8% and EPS in the range of $0.90 - $0.94.
Liz Claiborne Inc designs and markets an extensive range of branded women's and men's apparel, accessories and fragrance products.
Net income in the second quarter of 2006 decreased to $39 million, or 3.5% of net sales, from $54 million, or 4.9% of net sales, in the second quarter of 2005. Diluted earnings per common share decreased to $0.38 in 2006 from $0.50 in 2005, a 24.0% decrease.
Net sales for the six months of 2006 were $2.296 billion, a decrease of $15 million, or 0.7%, compared to the six months of 2005. Gross profit increased $5 million, or 0.4%, to $1.093 billion in the six months of 2006 over the six months of 2005, including a $9 million decrease in 2006 resulting from the impact of foreign currency exchange rates, primarily as a result of the weakening of the euro, in our international businesses.
Net income in the six months of 2006 decreased to $86 million, or 3.8% of net sales, from $126 million, or 5.4% of net sales, in the six months of 2005. Diluted earnings per common share decreased to $0.83 in 2006 from $1.15 in 2005, a 27.8% decrease.
For fiscal 2006, the company is reaffirming its previous guidance, projecting net sales to increase low single digits compared to fiscal 2005, an operating margin in the range of 9.2 - 9.6% and EPS in the range of $2.58 - $2.73.
For the third quarter of 2006, it is projecting net sales to increase low single digits compared to the third quarter of 2005, an operating margin in the range of 11.3 - 11.8% and EPS in the range of $0.90 - $0.94.
Liz Claiborne Inc designs and markets an extensive range of branded women's and men's apparel, accessories and fragrance products.
Liz Claiborne Inc
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