Guess?, Inc. (NYSE: GES) climbed Thursday, after reporting stronger-than-expected results for its fourth quarter on Wednesday.
For the fourth quarter of fiscal 2018, the Company recorded GAAP net earnings of $1.0 million, an 84.2% decrease from $6.6 million for the fourth quarter of fiscal 2017. GAAP diluted earnings per share decreased 87.5% to $0.01 for the fourth quarter of fiscal 2018, from $0.08 in the prior-year quarter.
The Company estimates the positive impact of currency on diluted earnings per share in the fourth quarter of fiscal 2018 was approximately $0.04 per share.
For the fourth quarter of fiscal 2018, the Company recorded adjusted net earnings of $51.3 million, a 40.2% increase compared to $36.6 million for the fourth quarter of fiscal 2017. Adjusted diluted earnings per share increased 44.2% to $0.62, compared to $0.43 for the prior-year quarter.
CEO Victor Herrero commented, "I am pleased to report that the overall results of the fourth quarter finished above the high-end of our expectations, with higher sales, higher adjusted operating profit and higher adjusted earnings per share.
"This quarter concludes a year where we saw revenue increase, operating profit growth, adjusted operating margin expansion and adjusted EPS growth of 52%. I believe that this year marks the beginning of a turnaround for the Company."
Shares leaped $2.41, or 15.6%, to $17.93
