Fossil's http://www.ikoart.co.uk/burberry-men/burberry-coats.html ceo talks about http://www.ikoart.co.uk/ q4 2012 results This is the fossil, incorporated fourth quarter and fiscal year 2012 earnings business call. (Lessons)I would now like to turn the expo over to allison malkin of icr, please proceed.Good day of the week.Previous we begin, you probably know that during this conference call, certain discussions will contain forward looking manual.Actual results could differ materially from those that is projected during these discussions.Fossil's policy on forward looking statements and traveler concerning a number of factors that could cause actual results to differ materially from such statements is readily available in our form 10 k and 10 q reports filed with the sec.As well, fossil undertakes no duty to publicly update or revise any forward looking statement, whether since new information, future events or elsewhere, except as compulsory by law.If any non gaap financial is through used on this call, a presentation of the most directly comparable gaap financial measure and getting back together of this non gaap financial measure to gaap will be provided as supplemental financial information to this release under the earnings release section under the investor relations heading on fossil's website.Please note that you may listen to a live webcast or a replay of this call by visiting fossil's website and then clicking on about us at the foot of the home page, and then on investor relations and choose webcast.Actually, i wishes to turn the call over to fossil's chairman and ceo, kosta kartsotis.Thanks, allison.Good am, individuals, and nice.Joining us today to discuss our fourth quarter and full year the desired info is dennis secor, our chief personal economic officer;Since jennifer pritchard, our lead designer of retail.We are pleased to report solid fourth quarter results that represent both top and bottomline records for private information, and decided another strong year of growth for fossil.In the quarter, we expanded our business in much of our major geographies with global sales up 14%, led by wrist timepieces.We improved our gross margins as we continue to focus our resources toward higher return initiatives and efficiency improvements across we.This drove expansion in driving margin and a double digit increase to carrying out work income, and given birth to record earnings per share of $2.51.Consist of the anticipated favorable tax benefits that dennis will describe shortly, and the accretion from our long term share purchase program, highlighting our strong cash flows, even after investing for future growth.Around the fourth quarter, we continued to capitalize on can our global design distribution and sales infrastructure to increase our geographic reach across our three core businesses, the guess, our watch profile and skagen.By is important, we continue to develop our business from nearly with particular emphasis on our growth markets.Asia remained our fastest growing geography and is actually our single largest opportunity.We remain in the early stages of rise in the continent and continue to see tremendous long term potential there.In the united states, our holiday ranking was strong, with sales accelerating a lot of from the third quarter.We were also pleased to offer growth in europe, even as we to be able to navigate company specific and economic challenges.Looking at our three core businesses.We grew our seiko brand, where a strong consumer validation led to solid growth of watches at wholesale, and our 19 sequential quarter of positive retail comps.The particular quarter, we gained extender in our jewelry business, seeing a positive response to our recently launched global assortment in our own merchants, which led to beneficial comps in the category.We also began flying insects our new jewelry line at wholesale and saw sales improving from earlier in the year.In ipad fixtures, sales were down gently.Within the other hand, our infusion of color in our new spring assortment has been positive for the business at the outset of the first quarter.Our watch portfolio maintains its frequent strength, posting a 20% trend of sales in total with growth across each of our regions.The quarter also marked our fourth sequential year of double digit watch growth.We expect this growth in order to keep, driven by the potency of the portfolio of our brands, our ongoing design good quality, and the significant opportunity that exist to broaden our geographic reach and to capitalize on our global commercial structure to grow market share in a growing industry.Insurance coverage fourth quarter marked a record quarter for fossil, it http://www.ikoart.co.uk/burberry-accessories/burberry-wallets.html also brought to a close a yet record year of remarkable performance, where we http://www.ikoart.co.uk/burberry-women/burberry-coats.html made immense progress on many of our long term objectives.As a business or company, we focus on growing our three core manufacturers and have three key enablers to drive those family retailers.First comes increasing the fossil core brand.The fossil brand is a key to our strategy and last year we made sizeable progress.In the past year, we updated fossil under a common global leadership team to ensure brand consistency across all geographies and all product categories.All encompasing, sales were up solidly in the past year with a particularly strong performance in watches, and we feel we are well positioned to drive growth later in life.Second is undoubtedly skagen.We efficaciously integrated and positioned our newly acquired skagen brand to achieve its long term potential.Growing owned brands is essential to our plans, and we see a great likelihood of skagen with its rich danish heritage and contemporary appeal.At 2013, we are now well positioned to experience operating skagen through our own subsidiaries, and we will quickly expand into more categories, starting with the jewelry line that's going to launch in the spring.And third is our past record watch business, and 2012 was another remaining year with growth of nearly 20%.We drove strong increases across both traditional and newer brands, as we reliably delivered compelling styles to market, increased our geographic reach and commanded a greater share of the market.We have got 14 brands in our portfolio, each at specific stages of growth.One of the numerous advantages to our portfolio approach is that we can easily adapt and focus on the brands and styles that are gaining momentum in particular geographies, providing us with a continued growth platform.In 2013 and long run, we continues to leverage our global distribution and supply chain strengths to grow our brand to their maximum potential, which is imperative, given your market dynamics in play.We also expect to capitalize on our swiss watch ability, as we continue to see a significant opportunity to fill an increasing wide space wishing to buy acceptable luxury watches that are lifestyle branded.Leveraging our existing national facilities, we are suffering from fossil swiss made watches for the asian market at our own stores, and our initial shipments for spring are playing well.We are very pumped up about our emporio armani swiss made line that we'll launch in the third quarter of this year.We feel this is a unique probability to add to the over all emporio armani business and to make it even more significant.And in a few weeks our new karl lagerfeld watch business will launch in 250 select stores across the country.And as we announced in our news release today, we are very pleased and excited to be managing tory burch to develop a global watch business that will be in shipping in 2014.This is an awesome brand and company, and we'll be working closely with them to create something special and authentic for the rapidly expanding tory burch customer base.That will reach the full potential of our brands, we continue to develop our distribution and install the company engine to drive and support our businesses as we expand.Globalization is community.Key enabler to our growth and central to our strategy, with asia being important to our growth strategy.Yr after, we grew asia by rrn excess of 20%.Our strong presentation in key markets like japan, korea and chinese suppliers, and the success of our concession roll out is an indication of the current strength we have in the market.For 2013, we have exciting plans in place to stay our expansion.Opening concessions and hiring partners in china are key components to achieving this objective.We are discovering that the fragmented distribution in china is lengthening the time required to sign partners and develop our targeted regions, impacting our near term growth and earnings targets.Regardless of this, we are confident in our abilities to arrive at our long term goals.Asia's growing rapidly middle class, loves watches and jewellery, and essentially our brands.This together with the significant talent and infrastructure we have developed has well positioned to eventually grow asia to one third of our total company sales.Asia also provides our highest margin region, so is a high return chance for us as well.

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