Phillips-Van Heusen net revenues up 25% to $472.1mn in Q1

26 May '05

5 min read

the performance of the arrow brand continues to exceed our expectations and we are pleased that we will be significantly increasing our marketing spending in the second half of the year, investing in the brand in order to further its growth opportunities."

mr. klatsky concluded, "recognizing our performance in the first quarter and what we see as the tone of our business through may, we are projecting second quarter earnings per share of $0.38 to $0.39 or an increase of 36% to 39% over the prior year's earnings per share exclusive of restructuring and other items, with corresponding revenues of $420 to $425 million, or an increase of 12% to 13% over the prior year.

reflecting the actual results of our first quarter and our second quarter projections, we are raising our 2005 earnings per share guidance to a range of $1.68 to $1.73, or an increase of 23% to 26% over the prior year's earnings per share exclusive of restructuring and other items, with corresponding revenues of $1.80 billion to $1.82 billion, which represents a revenue increase of 10% to 11% over 2004.

our 2005 guidance continues to be based on a conservative view of the second half of the year and we have not raised, at this time, our earnings estimates for the third and fourth quarters. if the current trends in our business were to continue, we would expect to exceed these second half estimates. we remain very pleased with our execution across all segments of our business ane he have not raised, at this time, our earnings estimates for the third and fourth quarters. if the current trends in our business were to continue, we would expect to exceed these second half estimates. we remain very pleased with our execution across all segments of our business and with the prospects for the new calvin klein businesses which will fuel growth in 2005 and beyond. looking beyond this year, we continue to be comfortable in our ability to grow earnings at 15-20% per year."

Phillips-Van Heusen

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