Share

Movado misses Street 2Q forecasts

|
News,Business

PARAMUS, N.J. (AP) — Movado Group Inc. (MOV) on Tuesday reported profit of $12.2 million in its fiscal second quarter.

On a per-share basis, the Paramus, New Jersey-based company said it had profit of 47 cents.

The results did not hit Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The watchmaker posted revenue of $143.6 million in the period, which also missed Street forecasts. Analysts expected $153.3 million, according to Zacks.

Movado released its full-year outlook, with revenue expected to be $640 million.

Movado shares have climbed slightly since the beginning of the year. The stock has climbed 13 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. A stock research report on MOV from Zacks is available at: http://www.zacks.com/ap/MOV

_____

Keywords:Movado,Earnings Report

View article comments Leave a comment

More from washingtonexaminer.com