Guess? Screams Higher on Large EPS Beat

Shares of Guess? GES are jumping in the after-hours trade following the release of its Q1 earnings results. Currently, shares are higher by 12.22%, trading at $45.00; they closed the regular session higher by 2.48%, at $40.10. Guess? reported Q1 EPS of $0.55 on revenues of $592 million. The Street was looking for $0.44 per share on revenues of $567.7 million. Revenues increased 9.8% year over year. Guess? sees FY 2012 EPS in the range of $3.30-3.50 on revenues of $2.74-2.80 billion. Paul Marciano, Chief Executive Officer, commented, "We are pleased with our first quarter performance, with all of our businesses delivering earnings within or beyond our previous expectations. We continued to expand the global presence of the Guess? brand, with each of our segments growing in the quarter.” “Europe and Asia continued to drive that expansion, individually delivering double digit revenue increases, which combined to represent almost two-thirds of the Company's top line growth. Our team executed well, managing costs and inventories tightly, which produced an operating margin that was two full points stronger than our previous expectations." Guess?, Inc. designs, markets, distributes and licenses lifestyle collections of contemporary apparel and accessories for men, women and children. The company's apparel is marketed under numerous trademarks including GUESS, GUESS?, GUESS U.S.A., GUESS Jeans, GUESS? and Triangle Design, MARCIANO, Question Mark and Triangle Design, a stylized G and a stylized M, GUESS Kids, Baby GUESS, YES, G by GUESS, GUESS by MARCIANO and Gc.