Joe's Jeans Reiterates 4th Quarter Earnings Guidance
24 Marzo 2009 - 2:15PM
Marketwired
Joe's Jeans Inc. (the "Company") (NASDAQ: JOEZ) announced today
that it expects its fourth quarter net sales to be $17.8 million,
slightly above the high end of its previously announced range of
$17.4 and $17.7 million. Further, the Company expects to earn $0.02
per share, also at the high end of its previously announced
guidance, before consideration of any non-cash charges.
The Company anticipates first quarter of fiscal 2009 net sales
to be between $16.0 million and $16.5 million, reflecting 5% to 8%
top line growth. In addition, the Company expects to earn $0.01 per
share, before consideration of any non-cash charges.
The Company expects to provide more information on its fourth
quarter and full fiscal year 2008 on its conference call to be held
after its filing, which has been delayed due to a pending
restatement regarding its method of accounting for its merger
transaction with JD Holdings, Inc. completed in October 2007. For
more information regarding the restatement, see the Company's Form
8-K filed with the Securities and Exchange Commission on March 24,
2009.
About Joe's Jeans Inc.
Joe's Jeans Inc. designs, produces and sells apparel and
apparel-related products to the retail and premium markets under
the Joe's� brand and related trademarks. More information is
available at the company website at www.joesjeans.com.
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. The matters discussed in
this document involve estimates, projections, goals, forecasts,
assumptions, risks and uncertainties that could cause actual
results or outcomes to differ materially from those expressed in
the forward-looking statements. All statements in this news release
that are not purely historical facts are forward-looking
statements, including statements containing the words "intend,"
"believe," "estimate, "project," "expect" or similar expressions.
Any forward-looking statement inherently involves risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to: the
risk that the Company will be unsuccessful in gauging fashion
trends and changing customer preferences; the risk that changes in
general economic conditions, consumer confidence, or consumer
spending patterns will have a negative impact on the Company's
financial performance or strategies; the highly competitive nature
of the Company's business in the United States and internationally
and its dependence on consumer spending patterns, which are
influenced by numerous other factors; the Company's ability to
respond to the business environment and fashion trends; continued
acceptance of the Joe's� brand in the marketplace; successful
implementation of any growth or strategic plans; effective
inventory management; the Company's ability to continue to have
access on favorable terms to sufficient sources of liquidity
necessary to fund ongoing cash requirements of its operations,
which access may be adversely impacted by a number of factors,
including the reduced availability of credit generally and the
substantial tightening of the credit markets, including lending by
financial institutions, who are sources of credit for the Company,
the recent increase in the cost of capital, the level of the
Company's cash flows, which will be impacted by the level of
consumer spending and retailer and consumer acceptance of its
products; the ability to generate positive cash flow from
operations; competitive factors, including the possibility of major
customers sourcing product overseas in competition with our
products; the risk that acts or omissions by the company's third
party vendors could have a negative impact on the company's
reputation; a possible oversupply of denim in the marketplace; and
other risks. The Company discusses certain of these factors more
fully in its additional filings with the SEC, including its last
annual report on Form 10-K filed with the SEC, and this release
should be read in conjunction with that annual report on Form 10-K,
together with all of the Company's other filings, including current
reports on Form 8-K, made with the SEC through the date of this
release. The Company urges you to consider all of these risks,
uncertainties and other factors carefully in evaluating the
forward-looking statements contained in this release.
Any forward-looking statement is based on information current as
of the date of this document and speaks only as of the date on
which such statement is made, and the Company undertakes no
obligation to update these statements to reflect events or
circumstances after the date on which such statement is made.
Readers are cautioned not to place undue reliance on
forward-looking statements.
Contact: Joe's Jeans Inc. Hamish Sandhu 323-837-3700 x 304
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