India, Nov. 10 -- Fossil Inc. (FOSL), a global lifestyle accessories company, on Tuesday reported a return to profitability in the third quarter. The company also raised its full-year financial outlook, citing strong year-to-date performance and continued momentum across its business.
Net sales edged up 0.4% to $271.2 million from $270.2 million in the prior-year quarter. Sales increased 2% on a constant-currency basis. Gross margin increased 10.8 percentage points to 59.8%.
Net income for the quarter was $11.7 million, compared with a net loss of $39.9 million a year earlier. Earnings per share were $0.19, compared with a loss of $0.76 per share a year earlier. Adjusted earnings per share were $0.23, versus an adjusted loss of $0.63.
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