Earnings News: DISH Network Corp (DISH), Michael Kors Holdings Ltd (KORS), Fossil Group Inc (FOSL)


by IBTimesTV

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Dish Network Corp. (NASDAQ:DISH) reported a loss of $11.1 million during the second quarter. The loss amounted to 2 cents per share, compared with earnings of 50 cents per share on revenue of $3.57 billion in the year-ago period. Revenue rose to $3.61 billion.

Dish Network was expected to report second-quarter earnings of 54 cents per share on revenue of $3.65 billion, according to analysts polled by Reuters.

As of 10:45 a.m. Eastern, share of Dish Network Corp rose 1.61 percent to $45.43 in morning trade.

Michael Kors Holdings Ltd. (NYSE:KORS) reported Tuesday that fiscal first quarter net income rose to $125 million, or 61 cents per share, compared with EPS of 34 cents on profit of $68.6 million in the year-ago quarter.

The luxury retailer also lifted its earnings outlook to $2.67 to $2.69 a share from a range of $2.43 to $2.47 per share.

Shares of Michael Kors Holdings Ltd edged up 0.97 percent to $68.54.

Fossil Group Inc. (NASDAQ:FOSL) issued second quarter earnings that soared 18 percent as the company reported a profit of $67.7 million, or $1.15 a share, up from $57.3 million, or 92 cents a share, a year earlier. Fossil also raised its full-year earnings guidance, and now is projecting $6.15 to $6.35 a share, from its May estimate of $6 to $6.26 a share.

Analysts had expected the company to report second-quarter earnings of 93 cents per share on revenue of $691.20 million, according to Reuters.

Shares of Fossil Group jumped 17.86 percent to $126.60 in early trade.

As of 10:57 a.m. Eastern, the Dow Jones industrial average was down 126.88 points, or 0.81 percent, at 15,485.25. The S&P 500 Index was down 12.22 points, or 0.72 percent, at 1,694.91. The Nasdaq Composite Index was down 33.80 points, or 0.92 percent, at 3,658.79.