Fossil beats by $0.19, beats on revs; guides Q2 revs in-line; reaffirms FY19 revenue guidance
- Reports Q1 (Mar) loss of $(0.42) per share, excluding non-recurring items, $0.19 better than the S&P Capital IQ Consensus of ($0.61); revenues fell 18.3% year/year to $465.3 mln vs the $453.97 mln S&P Capital IQ Consensus.
- Co issues in-line guidance for Q2, sees Q2 revenue declining 10-16% yr/yr, which we compute as $484-519 mln vs. $503.7 mln S&P Capital IQ Consensus.
- Co reaffirms guidance for FY19, sees FY19 revenue declining 7-12% yr/yr, which we compute as $2.24-2.36 bln vs. $2.25 bln S&P Capital IQ Consensus