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Earnings Analysis: 
Perry Ellis Reports Wider Net Loss
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:30 AM EDT August 22 2006



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Perry Ellis International Inc, apparel designer, reported a Q2 loss of $2.5 million, or 25 cents a share, slightly wider than its loss of $2.4 million, or 25 cents a share a year-ago. Revenue declined to $171 million from $190 million in the same period a year earlier. The company beat analysts’ estimates for a loss of 29 cents a share in the July period.

 
Perry Ellis International Inc, (PERY: chart), said the revenue decline was related to previously announced reductions of private label and branded programs at a national mid tier chain, the impact of closures of Federated locations due to that company''s merger with May Co. and a reduction in off price sales. Looking ahead, Perry Ellis confirmed its outlook for pro forma earnings of $2.30 and $2.40 per share for the year but said it sees revenue at the lower end of its previously announced range of $860 million to $870 million.

Persimmon, (PSN: chart), U.K. home builder, reported that first-half adjusted profit before tax advanced 16% to 271.5 million pounds ($513 million), with 42% revenue growth to 1.5 billion pounds. Home completions jumped by more than 38% to 8,226 units, it stated, and the integration of Westbury has been completed ahead of expectations. The company lifted its dividend by 15% to 13.8 pence a share.

Harris Interactive Inc, (HPOL: chart), market research firm, reported Q4 net profit more than doubled to 5 cents a share, from 2 cents a share a year ago on 10.7% revenue growth, topping analysts’ expectations by a penny. The company said its figures were driven by solid revenue growth from its European and global Internet units. Harris Interactive added that it sees first-half 2007 earnings of between 9 cents a share and 10 cents a share and revenue of between $108 million and $113 million.
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