Fossil to Delay Filing Annual Report

The Richardson, Texas-based company said in a filing with the Securities and Exchange Commission it will file results for the year ended Jan. 6 "as soon as practicable."

The company also is late in filing its third-quarter results for the period ended Oct. 7, 2006.

On Feb. 20, the company posted preliminary figures for the latest period, with fourth-quarter sales rising 21 percent to $390.8 million from $324.2 million a year ago. Fossil also estimated net income at $38.2 million, or 55 cents per share.

Analysts were looking for earnings of 46 cents per share on sales of $367.3 million, according to a poll by Thomson Financial.

Fossil said it may have to restate prior results, or adjust certain preliminary figures based on the outcome of its internal review.

Fossil Inc. shares rose 10 cents to $26.47 during afternoon trading on the New York Stock Exchange.