Shares of Oxford Industries Inc. (OXM, Financial) fell after reporting first quarter earnings per share of $1.28 on revenue of $272.63 million. The company managed to beat earnings by 5 cents, but fell short revenue estimations by $1.23 million.
In the first trimester, the gross profit was $164.1 million compared to $159.4 million in the same quarter of the prior year. Gross margin grew to 60.2% compared to 58.5% in the first quarter of fiscal 2017. Adjusted gross margin inched up 120 basis points to 60.4% from 59.2% in the same trimester of the previous year.
Looking ahead, the company expects net sales between $300 million and $310 million compared to net sales of $284.7 million in the second quarter of fiscal 2017. Earnings per share on a GAAP basis are expected to be in a range of $1.72 to $1.82 and on an adjusted basis are expected to be in a range of $1.75 to $1.85.
The company also has raised its outlook for the full year fiscal 2018. It now expects GAAP earnings per share to be between $4.32 and $4.52. On an adjusted basis, earnings per share are expected to be in a range of $4.45 to $4.65. Net sales will be $1.125 billion and $1.145 billion.
Shares of H&R Block Inc. (HRB, Financial) fell almost 20% after reporting fourth quarter earnings per share of $5.43 on revenue of $2.39 billion. The company beat earnings estimates by 16 cents and revenue expectations by $50 million.
"We are pleased with our financial performance this year, with revenue growth, strong margins and improved earnings," said Tony Bowen, H&R Block's chief financial officer. "Our improved results, along with our strong balance sheet and cash position, provide a solid foundation as we invest in our strategic evolution."
Crown Crafts Inc. (CRWS, Financial)’s stock advanced on the heels of the company reporting its financial results for the fourth quarter. The company posted earnings per share of 20 cents on revenue of $22.69 million, which was higher by 31.1% than the figure reported a year earlier.
Gross profit was 25.9% of net sales, down from 29.9% in the prior-year quarter. Excluding certain items, the company’s gross profit expressed as a percentage was 29.0%. Further, gross profit for the year was 28.1% of net sales, down from 29.4% in the prior year.
Disclosure: The author holds no position in any stocks mentioned.
