Tiffany’s Q4 Results Beat Estimates, Outlook Upbeat (TIF)

Shares of Tiffany & Co. (NYSE: TIF) edged up on Friday after the high-end Jewelry maker reported better-than-expected results thanks to robust revenue growth in Asia.

The New York based Company also provided upbeat guidance on both revenue and earnings for the current fiscal.

For the fiscal fourth quarter ended January 31 which covered crucial holiday season period , the Company reported net income of $179.6 million or $1.40 a share while revenue climbed 4% to $1.24 billion.

Analysts polled by FactSet Research were expecting earnings of $1.36 a share on revenue of $1.25 billion.

In Americas, total sales rose 2% to $620 million in the fiscal fourth quarter while comparable-store-sales fell 2%.

In the Asia-Pacific region, total sales jumped 13% to $254 million in the fourth quarter. Excluding the impact of currency fluctuations, sales increased by 10%. Sales were strong in mainland China. Comparable-store-sales (excluding the impact of currency fluctuations) climbed 6% in the fourth quarter.

In Japan, total sales fell 6% to $192 million as weaker euro weighed on the top line. However, excluding the impact of currency fluctuations, total sale edged up 2% while comparable-store-sales (excluding impact of currency fluctuations) increased 2%.

In Europe, total sales increased 3% to $146 million, notwithstanding the slowdown in the economy. Excluding the impact of currency fluctuations, total sales rose 3% while comparable-store-sales (excluding currency fluctuations impact) remained flat.

Looking ahead the current fiscal, Tiffany anticipates earnings to come in the range of $3.43 a share to $3.53 a share, assuming sales growth of 6% to 8%, which translates in to sales of between $4.02 billion and $4.09 billion.  Analysts’ consensus estimate was for earnings of $3.46 a share on revenue of $4.02 billion.

Commenting over the results, Chairman and CEO Michael J. Kowalski, said in a statement, “These quarterly sales results were consistent with the holiday trends we had issued in early January. While financial results in fiscal 2012 were disappointing due to lower-than-expected sales growth and pressures on gross margin, we continued to maintain a longer-term focus on strengthening global awareness of the Tiffany & Co. brand and on further developing compelling product offerings.”