By
Reuters
Published
May 23, 2011
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Perry Ellis Q1 beats estimates; ups FY EPS outlook

By
Reuters
Published
May 23, 2011

May 23 - Perry Ellis International Inc reported market-topping quarterly results, and raised its profit outlook for the year, helped by additional sales from its acquisiton of women's apparel maker Rafaella Apparel Group.

Perry Ellis
Perry Ellis S/S 2011

Perry Ellis, whose brands include Laundry by Shelli Segal, Cubavera and Jantzen, reported a first-quarter net income of $15.4 million, or 99 cents a share, compared with $11.2 million, or 81 cents a share, a year ago.

Excluding items, the company earned $1.08 a share.

Revenue rose 31 percent to $288.3 million -- of which about 14 percent was contributed by Rafaella.

Analysts on average expected earnings of 99 cents a share, before special items, on revenue of $277.1 million, according to Thomson Reuters I/B/E/S.

In January, Perry Ellis announced it would buy Rafaella from Cerberus Capital Management for about $70 million. [ID:nSGE70609V]

Shares of Miami-based Perry Ellis closed at $29.50 on Friday on Nasdaq.

(Reporting by Mihir Dalal in Bangalore; Editing by Maju Samuel)

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