Luxury goods maker Michael Kors (NYSE:KORS) announced that it expects EPS for the first quarter of fiscal 2013 of between 18 cents and 20 cents. The company projects between $360 million and $370 million in revenues for the quarter.
That exceeded analysts’ forecast of EPS of 17 cents on revenue of $324 million, Reuters noted.
For all of fiscal 2013, Michael Kors estimates revenue of between $1.7 billion and $1.8 billion and adjusted EPS of $1.08 and $1.12, topping Wall Street, which anticipates EPS of 98 cents on revenue of $1.69 billion.
Investors liked the guidance. Shares of Michael Kors rose more than 5% in Tuesday afternoon trading.
The company also posted fourth-quarter 2012 earnings of $43.6 million, more than twice the earnings from the same time last year.