Perry Ellis (NASDAQ:PERY) reported Q2 EPS of $0.11, beats analyst estimates of $0.04 per share. Revenues for the quarter rose 33% year-over-year to $214.4 million, topping consensus estimates of $203.95 million. The company forecasts revenue exceeding $1.0 billion for full fiscal year 2012.
Oscar Feldenkreis, President and COO commented, "Expansion of our core businesses and the addition of Rafaella women's sportswear resulted in a strong profit for the second quarter. We believe this exemplifies the success of our diversification strategies and the ongoing strength of our growth initiatives. We are very pleased to achieve this performance in what traditionally has been an unprofitable quarter for our Company and during what continues to be an uncertain domestic and global economy."
Perry Ellis (NASDAQ:PERY) has a potential upside of 99% based on a current price of $17.7 and an average consensus analyst price target of $35.22.