Joe's Jeans Inc announced 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.
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.