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Article: Watch Maker Fossil Posts Lower Net Income, But Profit Beats Forecast.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 27, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Maria Halkias, The Dallas Morning News Knight Ridder/Tribune Business News
Feb. 27--Fossil Inc. reported better-than-expected profit in the fourth quarter before a one-time charge, largely because of higher-than-expected sales, the Richardson-based watch and leather goods maker said Tuesday.
The company's stock closed Tuesday at a 52-week high of $26.05, rising $1.46 a share, or 6.4 percent. Over the last 12 months, Fossil's share price has increased 45 percent.
Net income fell to $15.7 million, or 50 cents a share, in the quarter ended Jan. 5, compared with net income of $17.8 million, or 57 cents a share, last year. Revenue rose to ...