Maidenform Brands Inc. (NYSE:MFB) reported its results for the third quarter. Maidenform Brands is a global intimate apparel company.
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Maidenform Brands Inc. Earnings Cheat Sheet
Results: Net income for Maidenform Brands Inc. rose to $10.7 million (46 cents per share) vs. $10.2 million (44 cents per share) in the same quarter a year earlier. This marks a rise of 5.4% from the year-earlier quarter.
Revenue: Rose 1.3% to $150.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Maidenform Brands Inc. beat the mean analyst estimate of 45 cents per share. It fell short of the average revenue estimate of $153.8 million.
Quoting Management: “Our third quarter results met our EPS expectations as favorable expenses and higher gross profit more than offset lower than planned revenues. Looking forward, we anticipate global economic challenges and increased competition; we are addressing these concerns with a continued focus on product innovation, such as Comfort Devotion, amplified emphasis on leveraging the equity of the Maidenform brand and operational improvements,” stated Maurice S. Reznik, Chief Executive Officer.
The company has now topped analyst estimates for the last three quarters. It beat the mark by 2 cents in the second quarter and by one cent in the first quarter.
Last quarter’s year-over-year revenue increase follows two quarters of revenue declines. Revenue fell 7.4% in the second quarter and fell 3.7% in the first quarter.
Gross margins widened last quarter, growing 0.5 percentage point from the year-earlier quarter to 32.5%. This snaps a streak of two consecutive quarters of shrinking margins.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 34 cents per share, down from 41 cents ninety days ago. The average estimate for the fiscal year is $1.53 per share, a rise from $1.51 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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