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March 28, 2008
Tax Benefit Boosts Movado's Fouth Quarter
Movado Group Inc. reported a nearly 40% jump in earnings for its fourth quarter to $19.6 million. The Swiss watchmaker said that it got a boost from strong international sales and a one-time tax benefit of $15 million.
Sales for the quarter ended Jan. 31 dipped 2.6% to $139 million.
For the full year, Movado reported a 21.3% increase in income to $60.8 million. The company said that its strong international presence offset the weakness in the U.S. economy.
Posted by Blacks on March 28, 2008 09:52 AM
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