Last updated: March 22. 2013 8:38AM - 658 Views
Associated Press

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(AP) Tiffany says its fourth-quarter net income edged up less than 1 percent, but managed to beat Wall Street predictions.

The New York-based jewelry company also says it expects its first-quarter earnings from operations will fall about 15 percent to 20 percent as a result of profitability pressures and higher marketing costs, but pick up later in the year.

For the quarter ended Jan. 31, Tiffany earned $179.6 million, or $1.40 per share. Revenue rose 4 percent to $1.24 billion.

Analysts polled by FactSet expected earnings of $1.36 per share on $1.25 billion in revenue.

For 2013, the company projected earnings of $3.43 to $3.53 per share on sales growth of 6 percent to 8 percent. Analysts expect a profit of $3.46 per share.

Associated Press
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