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Article: Kenneth Cole Productions, Inc. Reports Better than Expected Q3 Results.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Kenneth Cole Productions, Inc. (NYSE:KCP) reported financial results for the third quarter ended September 30, 2009. The Company reported earnings per fully-diluted share of $0.01 for the quarter versus its prior guidance of a loss of between $(0.03) and $(0.08) per share and the year-ago loss of $(0.09) per share. The better than expected profit performance was the result of improved gross margins, effective inventory controls, and significant reductions in operating overhead versus the prior year's period.
As anticipated, third quarter net revenues decreased to $103.8 million versus $132.1 million in the year-ago period. This was largely due to a decline in ...