Perry Ellis International Inc anticipates total revenues for the first quarter ended April 30 2005 to approximate $225 million (GBP 123 million). Compared with $197 million in the same period last year, this means a climb of 14 per cent.
The record increase in revenues is in part due to an increase in revenues of $43 million generated by the acquisition in February of certain assets of Tropical Sportswear International Corporation. A $2 million increase in revenues generated by Perry Ellis’ menswear wholesale business offset by the expected $17 million sales decline in the Company’s swimwear operation also contributed to the total.
The Company further announced it expects net imcome for the quarter to range between $8.5 million and $9 million, which represents an increase of between 4 and 10 per cent.
“We are pleased that preliminary results at this time reflect again a record revenue quarter,” said George Feldenkreis, Perry Ellis Chairman and CEO. “Our men’s business continues to perform well, and our product lines continue to evolve to meet changing consumer tastes and preferences. The integration of Tropical’s operations is proceeding on schedule and revenues during the quarter were consistent with management’s expectations. The Tropical acquisition positions us as a major force in the men’s bottoms business.”
Perry Ellis is a leading designer, distributor and licensor of a wide range of high quality men’s and women’s apparel, accesories and fragrances. The final results will be released on May 24, 2005.
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