Perry Ellis International Pre-Announces Record Revenue and Expects to Beat Consensus Earnings Estimates for Second Quarter Fisca
August 08 2007 - 12:47PM
Business Wire
Perry Ellis International, Inc. (NASDAQ:PERY) announced today that,
based on preliminary estimates, the Company anticipates that total
revenue for its second quarter ended July 31, 2007, will be
approximately $195 million compared to $171 million for the second
quarter ended July 31, 2006. This represents an increase of
approximately $24 million, or 14% over the Company's total revenues
for the prior year period. George Feldenkreis, Chairman and CEO,
commented, "According to our preliminary results, we finished the
strongest second quarter in the history of the Company. Based on
the positive momentum across all of our business platforms,
especially Perry Ellis at department stores and the excellent
performance of our other brands, we expect fiscal 2008 to represent
a record year for Perry Ellis International." The Company indicates
that based on preliminary results, it expects to beat the current
mean estimate on First Call of a loss of $0.15 per share for the
second quarter. Final results for second quarter fiscal 2008 are
scheduled to be released after the market closes on August 20,
2007. Perry Ellis International to Ring the NASDAQ Stock Market
Closing Bell The Company noted that in celebration of its 40th
anniversary, George Feldenkreis, Chairman and CEO, and Oscar
Feldenkreis, Vice Chairman, President and COO will preside over the
closing bell at 4:00 PM EDT today, Wednesday, August 8, 2007. About
Perry Ellis International Perry Ellis International, Inc. is a
leading designer, distributor and licensor of a broad line of high
quality men's and women's apparel, accessories, and fragrances. The
Company's collection of dress and casual shirts, golf sportswear,
sweaters, dress and casual pants and shorts, jeans wear, active
wear and men's and women's swimwear is available through all major
levels of retail distribution. The Company, through its wholly
owned subsidiaries, owns a portfolio of nationally and
internationally recognized brands including Perry Ellis�, Jantzen�,
Cubavera�, Munsingwear�, Savane�, Original Penguin�, Grand Slam�,
Natural Issue�, Pro Player�, the Havanera Co. �, Axis�, Tricots St.
Raphael�, Gotcha�, Girl Star� and MCD�. The Company enhances its
roster of brands by licensing trademarks from third parties
including Dockers� for outerwear, Nike� and JAG� for swimwear, and
PING� and PGA TOUR� for golf apparel. Additional information on the
Company is available at http://www.pery.com. Safe Harbor Statement
We caution readers that the forward-looking statements (statements
which are not historical facts) in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are based on current
expectations rather than historical facts and they are indicated by
words or phrases such as "anticipate," "could," "may," "might,"
"potential," "predict," "should," "estimate," "expect," "project,"
"believe," "plan," "envision," "continue," "intend," "target,"
"contemplate," or "will" and similar words or phrases or comparable
terminology. We have based such forward-looking statements on our
current expectations, assumptions, estimates and projections. While
we believe these expectations, assumptions, estimates and
projections are reasonable, such forward-looking statements are
only predictions and involve known and unknown risks and
uncertainties, and other factors that may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements, many of which are beyond our
control. These factors include: general economic conditions, a
significant decrease in business from or loss of any of our major
customers or programs, anticipated and unanticipated trends and
conditions in our industry, including the impact of recent or
future retail and wholesale consolidation, the effectiveness of our
planned advertising, marketing and promotional campaigns, our
ability to contain costs, disruptions in the supply chain, our
future capital needs and our ability to obtain financing, our
ability to integrate acquired businesses, trademarks, tradenames
and licenses, our ability to predict consumer preferences and
changes in fashion trends and consumer acceptance of both new
designs and newly introduced products, the termination or
non-renewal of any material license agreements to which we are a
party, changes in the costs of raw materials, labor and
advertising, our ability to carry out growth strategies including
expansion in international and direct to consumer retail markets,
the level of consumer spending for apparel and other merchandise,
our ability to compete, exposure to foreign currency risk and
interest rate risk, possible disruption in commercial activities
due to terrorist activity and armed conflict, and other factors set
forth in Perry Ellis International's filings with the Securities
and Exchange Commission. Investors are cautioned that all
forward-looking statements involve risks and uncertainties,
including those risks and uncertainties detailed in Perry Ellis'
filings with the SEC. You are cautioned not to place undue reliance
on these forward-looking statements, which are valid only as of the
date they were made. We undertake no obligation to update or revise
any forward-looking statements to reflect new information or the
occurrence of unanticipated events or otherwise.
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