Fossil Inc reports decline in Q4 profit
21/02/2006
Watch maker Fossil, Inc. has reported fourth quarter net sales and earnings for the 13-week period and fiscal year ended December 31, 2006 .
Its fourth-quarter earnings fell 37 percent, reporting net income of $22.2 million compared to a prior-year profit of $35.1 million. Net sales for the fourth increased 1.8% to $324.2 million compared to $318.4 million in 2004; and gross profit was $160.5 million, or 49.5% of net sales, compared to $172 million, or 54.0% of net sales, in 2004. Worldwide net sales rose 1.8% during the Fourth Quarter with particular strength in luxury watches, accessory and jewellery categories. International sales rose by 4.8% mainly due to sales volume increases related to licensed watches.
For the Fiscal Year Ended December 31, 2005, net sales rose 8.4% to slightly over $1.0 billion compared to $960.0 million in 2004; whilst gross profit was $533.7 million, or 51.3% of net sales compared to $504 million, or 52.5% of net sales in 2004.
Fossil, Inc. is a design, development, marketing and distribution company that specialises in consumer products such as fashion watches, the company also offers complementary lines of small leather goods, belts, handbags and apparel.
Its fourth-quarter earnings fell 37 percent, reporting net income of $22.2 million compared to a prior-year profit of $35.1 million. Net sales for the fourth increased 1.8% to $324.2 million compared to $318.4 million in 2004; and gross profit was $160.5 million, or 49.5% of net sales, compared to $172 million, or 54.0% of net sales, in 2004. Worldwide net sales rose 1.8% during the Fourth Quarter with particular strength in luxury watches, accessory and jewellery categories. International sales rose by 4.8% mainly due to sales volume increases related to licensed watches.
For the Fiscal Year Ended December 31, 2005, net sales rose 8.4% to slightly over $1.0 billion compared to $960.0 million in 2004; whilst gross profit was $533.7 million, or 51.3% of net sales compared to $504 million, or 52.5% of net sales in 2004.
Fossil, Inc. is a design, development, marketing and distribution company that specialises in consumer products such as fashion watches, the company also offers complementary lines of small leather goods, belts, handbags and apparel.
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