Tiffany & Co (NYSE:TIF) headquartered in New York, announced net income for the fourth quarter of $ 61.90 million or $ 0.50 per share, compared to income $ 157.80 million or $ 1.26 per share for the year-ago quarter.
The company recorded fourth quarter net income of $ 208.10 million or $ 1.67 per share, while analysts from Thomson Reuters expected income of $ 1.64 per share.
Top line figures for the fourth quarter rose 9% to $ 1.33 billion from $ 1.23 billion in the same quarter last year, where as analysts anticipated $ 1.31 billion.
Alessandro Bogliolo, CEO, said, We are pleased to be finishing the year with solid sales growth, both geographically and across product categories. Most important, however, is to generate sustainable growth in sales, margins and earnings over the long-term.
The company expects 2018 full year earnings in the range of $4.25 – $4.45 per diluted share.
Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations