Movado Group beats by $0.01, reports revs in-line; guides Q4 EPS in-line, revs in-line; announces increase in share buyback
Reports Q3 (Oct) earnings of $0.87 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.86; revenues fell 0.6% year/year to $188.6 mln vs the $188.7 mln consensus.
- Co issues in-line guidance for Q4, sees EPS of $0.18-0.23 vs. $0.20 Capital IQ Consensus Estimate; sees Q4 revs of $132-137 vs. $133.71 mln Capital IQ Consensus Estimate.
- Co also announced an increase in share buyback program authorization to $100 million, as well as a $0.10 quarterly dividend.