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DAILY EARNINGS

Movado Net and Revenues Decline


Author: Mukesh Buch
ticker.com
Last Update: 11:40 PM ET March 20 2017

12:00 PM New York Movado fourth-quarter net plunged 34% to $5.2 million and revenues slumped 9%. Syros Pharmaceuticals fourth-quarter net narrowed to $11 million.

Tollbooth Index slid 8.55 to 11,680.96.

Earnings Review

Movado Group, Inc (MOV), the watch designer and distributor said net sales in the fourth-quarter ending in January slumped 8.7% from a year ago to $130.8 million.

Net income in the quarter plunged 34.1% to $5.2 million or 22 cents per diluted share from $7.9 million or 34 cents in the same quarter last year.

Movado reaffirmed net sales in fiscal 2018 in the range of $515 million to $530 million and operating income between $50 million and $55 million and net income between $33 million and $36.3 million and diluted earnings per share in the range of $1.40 to $1.55.

Syros Pharmaceuticals Inc (SYRS), the biopharmaceutical products maker stated revenues in the fourth-quarter ending in December were $0.3 million from a year ago. (The company had not provided comparable revenues for the same period a year ago).

Net loss in the quarter narrowed to $10.9 million or 47 cents per diluted share from $11.9 million or $5.14 in the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc