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Tiffany reports 19 pct rise in 1st-quarter profit
posted 8:03 am Fri May 30, 2008 - NEW YORK
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Tiffany & Co. says that strong growth in Asia-Pacific and European markets helped its first-quarter profits rise 19 percent, but the jeweler warned that it doesn't expect an improvement in the U.S. until later this year.Tiffany said Friday that it profits totaled $64.4 million, or 50 cents per share, in the January-March quarter.That compares with $54.08 million, or 39 cents per share, in the year-ago period. The company's sales rose 12 percent to $668.15 million, from $595.7 million in the year-ago period.
Analysts polled by Thomson Financial had expected earnings of 40 cents per share on sales of $649 million.
Analysts polled by Thomson Financial had expected earnings of 40 cents per share on sales of $649 million.
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