Guess Posts Quarterly Loss of $3.6 Million

Guess Inc., a clothing retailer and designer, said it had a loss of $3.6 million in its first quarter. Profit this year will be less than forecast as sales to department stores and other retailers will be lower than expected.

The loss of 8 cents a share contrasted with net income of $2.08million, or 5 cents, in the year-earlier quarter. Profit this year will be as much as 16 cents, Guess said. The analysts’ average estimate was 21 cents, according to Thomson Financial/First Call.

Guess said its department store and wholesale business had a loss from operations of $6.7 million as it sold less full-price merchandise.

First-quarter sales declined 19% to $138.2 million from $170.1 million, Guess said. Sales this year are expected to decline as much as 13%, with revenue in the first half dropping about 20%, the firm said.

Last year, sales were $677.6 million.

Shares of Los Angeles-based Guess rose 17 cents to $7.95 on the New York Stock Exchange. They have increased 6.7% in the last year. The news was released after the close of regular U.S. trading.

Other California companies reporting earnings, excluding one-time gains or charges unless noted:

* American States Water Co. reported first-quarter net income of $3.8 million, or 37 cents a share, compared with $3.1 million, or 30 cents, a year ago. Revenue at the San Dimas-based water and electricity distributor increased 10.4% to $44.5 million.

Edelbrock Corp. reported net income of $1.1 million, or 23 cents a share, in its fiscal third quarter, up from $54,000, or 1 cent a share, a year ago. The Torrance-based manufacturer of aftermarket automotive parts said revenue increased 8.6% to $28.2 million.

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Bloomberg News was used in compiling this report.