Apparel company Phillips-Van Heusen has increased its revenue and earnings guidance for the fourth quarter and financial year 2005 after good Christmas trading.
 
The company said its strong third-quarter performance has continued through the Christmas and post-Christmas selling season. Its wholesale, retail and Calvin Klein licensing businesses all experienced strong performance ahead of plan.

Now Phillips-Van-Heusen is increasing revenue and earnings per share estimates for the fourth quarter and the year. The company estimated fourth-quarter revenues of US$470m to US$475m - an increase of 14-15% compared to the 2004 fourth quarter.

Diluted net income per share for the fourth quarter is currently estimated to be US$0.35 to US$0.37 - an increase of 25-32% over the prior year, excluding restructuring and other items, a US$0.07 to US$0.09 increase over prior guidance.

For the financial year 2005, the company is currently estimating revenues in the range of US$1.920bn toUS$1.925bn - an increase of 17% over the 2004.

Diluted net income per share for the year is now estimated to be US$1.97 to US$1.99, excluding the costs associated with the company's secondary offering in July 2005. This represents a US$0.07 to US$0.09 increase over the company's prior earnings per share guidance of US$1.90.

Phillips-Van-Heusen estimated that GAAP diluted net income per share for the year will be US$1.78 to US$1.80, but its earnings per share guidance does not include the impact of expensing stock options. The company estimated that if stock options were expensed in 2005, the impact would be approximately US$0.15 per share under the provisions of SFAS 123, which could reduce the company's 2005 earnings per share guidance.