Fossil, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, net sales were $680.9 million against $589.5 million for the same period a year ago. The sales increase was driven by double-digit growth of the multi-brand global watch portfolio as well as the expansion of the global FOSSIL brand. Sales of the company's jewelry products increased, while sales of leathers and eyewear declined. Operating income was $94.3 million against $82.9 million for the same period a year ago. Income before income taxes was $102.9 million against $84.6 million for the same period a year ago. Net income attributable to Fossil, Inc. was $72.2 million against $58.1 million for the same period a year ago. Diluted earnings per share were $1.21 against $0.93 for the same period a year ago. Operating cash flow increased $51 million to $86 million compared to $35 million a year ago, driven by higher earnings and strong working capital management. Operating income increased 14%, including a $200,000 positive foreign currency translation impact. The company provided earnings guidance for the second quarter and full year of 2013. For the second quarter of fiscal 2013, the company expected net sales to increase approximately 8% to 9%, operating margin in a range of 11.5% to 12.0%, diluted earnings per share in a range of $0.89 to $0.94. For the full year the company expected net sales to increase between 10% and 11%, Operating margin in the range of 16.5% to 17.0%, diluted earnings per share in the range of $6.00 to $6.26. The company continues to expect a full year of 2013 tax rate of about 31%. The company planning capital expenditures between $115 million and $125 million for the year, and expect depreciation and amortization will be between $70 million and $75 million.

Fossil, Inc., Q1 2013 Earnings Call, May 07, 2013

Fossil, Inc. in its AGM to be held on May 22, 2013, proposed to amend its certification of incorporation to change its corporate name to Fossil Group, Inc.