For the Six Month Period consolidated net sales increased 14.1% (15.7% excluding currency impact) and were principally due to increased sales in the company's international, domestic accessory and retail segments as well as revenues associated with the recently launched ADIDAS watches. It estimates that approximately $16 million of net sales during the Six Month Period is attributable to the additional reporting week during the first quarter.
The company currently estimates third quarter 2006 diluted earnings per share will approximate $0.30 (inclusive of $0.01 diluted per share associated with SFAS 123R), compared to 2005 third quarter diluted earnings per share of $0.28, $0.30 including tax benefits.
Management currently estimates diluted earnings per share for fiscal year 2006 will approximate $1.11, inclusive of approx. $0.05 per diluted share negative impact from the implementation of SFAS 123R, as well as a $0.06 per diluted share benefit from a lower share count as a result of common stock repurchases completed by the company since the fourth quarter of fiscal 2005.
The company estimates sales growth in the low double-digit range for the second half of fiscal year 2006.
Fossil Inc is a design, development, marketing and distribution company that specializes in consumer products predicated on fashion and value.
marketing@alchempro.com
