Net income rose to $103.5 million, or $1.00 per share, in the company's fiscal fourth quarter, ended March 29, from $73.2 million, or 68 cents per share, a year ago.
NEW YORK (Reuters) - Clothing maker and retailer Polo Ralph Lauren Corp <RL.N> reported a higher quarterly profit on Wednesday, helped by strong sales, a lower tax rate and acquisitions.
Net income rose to $103.5 million, or $1.00 per share, in the company's fiscal fourth quarter, ended March 29, from $73.2 million, or 68 cents per share, a year ago.
The company, whose brands include Polo, Chaps and Club Monaco, said net revenue increased to $1.24 billion from $1.03 billion a year ago, as higher wholesale and retail sales offset a decline in licensing revenue.
The company affirmed its outlook for fiscal 2009, saying it still sees full-year earnings of $3.95 to $4.05 per share on revenue expected to increase by a low-to-mid single digit percentage rate.
!ADVERTISEMENT!For the first quarter, Polo said it expects revenue to grow at a low-to-mid single digit rate and its operating margin to fall 3 to 4 percentage points.
(Reporting by Martinne Geller, editing by Gerald E. McCormick and Steve Orlofsky)
