--> No Pre-market for now
Movado Group follow-up: MOV beats by $0.08, beats on revs; reaffirms FY16 EPS guidance, revs guidance
Reports Q2 (Jul) earnings of $0.50 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.42; revenues rose 1.4% year/year to $145.6 mln vs the $142.1 mln consensus. Gross profit was $141.5 million, or 53.2% of sales, compared to $142.8 million, or 54.0% of sales in the same period last year.
- Co reaffirms guidance for FY16, sees EPS of $2.00-2.10 vs. $2.05 Capital IQ Consensus Estimate; sees FY16 revs of $590-600 mln vs. $593.13 mln Capital IQ Consensus Estimate.
- Co is expecting to deliver its first connected Movado timepiece during the fourth quarter and believes wearable technology represents a great opportunity for Movado Group.