New York And Company
November 25, 2009 by USA Post
Jewelry retailer Tiffany & Co. on Wednesday said its third-quarter profit fell slightly from last year, but still beatanlyst expectations, and the company raised its full-year forecast.
The New York-based company reported third quarter net income of $43.3 million, or 35 cents per share, compared with $43.8 million, or 35 cents per share, in the year-ago period. Excluding items, adjusted profit was 33 cents per share.
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Sales fell 3% from last year, to $598.2 million. On average, Wall Streetanlysts expected a much smaller profit of 24 cents per share, on lower revenue of $575.1 million.
Looking ahead, the company boosted its full-year outlook to a range of $1.88 to $1.98 per share, up from prior guidance for $1.65 to $1.75 per share for the year.
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One hour into trading, Tiffany shares were up 4% in nearly double average daily trading volume.
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