New York based Phillips-Van Heusen Corporation's management will discuss its updated revenue and earnings guidance for the fourth quarter and fiscal year 2005 at its presentation to be given at the SG Cowen & Co 4th Annual Consumer Conference.
The Company's strong third quarter performance and the momentum which it experienced at the outset of the fourth quarter continued through the Christmas and post-Christmas selling season, with its wholesale, retail and Calvin Klein licensing businesses all experiencing strong performance ahead of plan.
As a result, the Company is increasing revenue and earnings per share estimates for the fourth quarter and the year.
The Company is currently estimating fourth quarter revenues in the $470 million to $475 million range, an increase of 14 percent to 15 percent over last year's fourth quarter.
Diluted net income per share for the fourth quarter is currently estimated to be $0.35 to $0.37, an increase of 25 percent to 32 percent over the prior year, excluding restructuring and other items, and a $0.07 to $0.09 increase over prior guidance.
For the fiscal year 2005, the Company is currently estimating revenues in the range of $1.920 billion to $1.925 billion, an increase of 17 percent over the prior year.
Diluted net income per share for the year is now estimated to be $1.97 to $1.99, excluding the costs associated with the Company's secondary offering in July 2005.
This represents a $0.07 to $0.09 increase over the Company's prior earnings per share guidance of $1.90.
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