Joe's Jeans swings to Q1 profit
Joe's Jeans Inc. (Nasdaq:JOEZ) shares are rising after the Commerce, Calif.-based apparel maker posted first-quarter earnings of $0.8 million, or $0.01 per share, up from a loss of $0.2 million, or breakeven per share, a year earlier. Analysts anticipated quarterly earnings of $0.01 per share. Sales for three months ended Feb. 29 rose to $15.2 million, compared with $13.8 million for the equivalent period of 2007. Wall Street analysts expected sales of $16 million.
In Monday’s trading, JOEZ shares were up 5.83%, or $0.06, at $1.09. For detailed price information and recent news stories about Joe's Jeans, click JOEZ.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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