Apparel maker Phillips-Van Heusen Corp
on Monday posted adjusted earnings that beat Wall Street expectations, boosted by the strength of its Calvin Klein brand around the world.

The company agreed last week to buy American prepster brand Tommy Hilfiger in a $3 billion cash-and-stock deal to boost its presence in Europe and Asia.

Phillips-Van Heusen, a menswear stalwart in U.S. department stores, said that net profit in its fourth quarter was $27.0 million, or 51 cents per share, from a loss of $37.9 million, or 74 cents per share, a year earlier.

Adjusting for costs related to a restructuring last year, the company earned 61 cents per share.

Earlier this month, Phillips-Van Heusen said it expected adjusted earnings of 59 cents per share on revenue of $612 million.

Analysts, on average, had been expecting earnings of 59 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 9 percent to $614.6 million.

Looking ahead, the company said it expects first-quarter earnings of 73 cents to 75 cents per share, excluding the effect of the recent acquisition.

That deal, expected to close in the second quarter, is expected to boost earnings by 20 cents to 25 cents per share on an adjusted basis for fiscal 2010. That excludes one-time costs of about $100 million, or $1.00 per share, the company said.

Phillips-Van Heusen shares rose 0.5 percent to $55.75 after closing up 3 percent at $55.45 on the New York Stock Exchange.

(Reporting by Alexandria Sage; Editing by Richard Chang)