Fifth & Pacific Companies Earnings: Everything You Must Know Now

Fifth & Pacific Companies (NYSE:FNP) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Fifth & Pacific Companies Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.12 in the quarter versus EPS of $-0.09 in the year-earlier quarter.

Revenue: Rose 13.4% to $382 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Fifth & Pacific Companies reported adjusted EPS loss of $0.12 per share. By that measure, the company missed the mean analyst estimate of $-0.10. It missed the average revenue estimate of $392.7 million.

Quoting Management: William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, Inc., said: “We were pleased overall with the performance of our brands during the quarter, as we believe we remain on track to achieve our 2013 financial targets. Kate Spade posted a 65% increase in total net sales, driven by strong performance in all channels of its business and a 27% increase in direct-to-consumer comparable sales. Excluding the impact of $22 million in net sales associated with Kate Spade Japan, net sales for Kate Spade increased 43%. Kate Spade remains on track to achieve its adjusted EBITDA target of $130 to $140 million for the year, despite the planned dilution on adjusted EBITDA margin resulting from the reporting impact of the Kate Spade Japan acquisition and the launch of Kate Spade Saturday.”

Key Stats (on next page)…

Revenue increased 2.74% from $371.8 million in the previous quarter. EPS increased to $-0.12 in the quarter versus EPS of $-0.16 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.01 and has not changed. For the current year, the average estimate is a profit of $0.04, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)