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Guess? all biz units deliver double-digit revenue

Jun '08
Guess? Inc reported financial results for the first quarter of its 2009 fiscal year, which ended May 3, 2008.

First Quarter 2009 Results:
For the first quarter of fiscal 2009, the Company reported record net earnings of $47.8 million, an increase of 35% compared to net earnings of $35.5 million for the quarter ended May 5, 2007. Diluted earnings per share increased 34% to $0.51 in the current quarter versus $0.38 in the prior year quarter.

Paul Marciano, Chief Executive Officer, commented, "We are very pleased with our financial performance this quarter, especially considering the current economic environment in the U.S. We increased revenues by 29% and achieved earnings per share growth of 34%.

Our strategy to expand our international business continues to yield strong results; in the first quarter, two-thirds of the revenue growth for the Company was generated by our European and Asian businesses.

Our business continues to evolve into a highly diversified model where we do not depend on any one channel, territory or product category."

Mr. Marciano continued, "The strength of our brand was evident across all of our businesses, with each of our segments delivering double-digit revenue growth and all contributing to our earnings increase.

Overall, our performance resulted in an operating margin expansion and a 35% increase in earnings, marking our 19th consecutive quarter of earnings growth.

Along with our licensee partners, we have developed a lifestyle assortment of products that resonates extremely well with our customers worldwide.

We continue to manage our business prudently and make investments globally to position the Company for profitable growth and to penetrate markets where the brand is well known but is not fully developed."

Total net revenue for the first quarter of fiscal 2009 increased 29.4% to $489.2 million from $377.9 million in the prior-year quarter. The Company's retail stores in North America generated revenue of $211.9 million in the first quarter of fiscal 2009, an 18.1% increase from $179.5 million in the same period a year ago.

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