Jones Apparel Q1 Profit Drops; Issues FY08 Adj. EPS Outlook - Quick Facts

Posted on Wednesday, April 30, 2008 7:17 AM

(RTTNews) - Jones Apparel Group, Inc. (JNY) on Wednesday reported first-quarter net income of $19.5 million or $0.23 per share, compared to $47.8 million or $0.44 per share in the prior year. Income from continuing operations fell to $19.5 million or $0.23 per share from $44.4 million or $0.41 per share last year. Adjusted income from continuing operations totaled $31.5 million or $0.37 per share, down from $50.5 million or $0.46 per share in the prior-year quarter. On average, nine analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.38 per share. Quarterly total revenues declined to $975.4 million from $1.08 billion in the same quarter a year ago. Six analysts had a consensus revenue estimate of $936.93 million. The company expects full-year 2008 adjusted earnings per share from continuing operations in the range of $1.20-$1.35. Analysts expect the company to earn $1.23 per share. For comments and feedback: contact editorial@rttnews.com