Oxford Industries: Fiscal Q1 Earnings Snapshot

ATLANTA (AP) _ Oxford Industries Inc. (OXM) on Wednesday reported fiscal first-quarter net income of $28.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Atlanta-based company said it had profit of $1.70. Earnings, adjusted for non-recurring costs, came to $1.89 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines posted revenue of $265.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $233.1 million.

For the current quarter ending in August, Oxford Industries expects its per-share earnings to range from $2.15 to $2.35. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.18.

The company said it expects revenue in the range of $300 million to $310 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $255.8 million.

Oxford Industries expects full-year earnings in the range of $4.85 to $5.15 per share, with revenue ranging from $1.01 billion to $1.05 billion.

Oxford Industries shares have increased 50% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $97.97, a climb of 78% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXM at https://www.zacks.com/ap/OXM

The Associated Press