Movado (MOV), a distributor of quality watches, posted details about its fourth quarter earlier today. I always hate to see a net loss, but that's unfortunately what the company reported. I'll have to deal with it.

Movado lost 28 cents per share in Q4, on an adjusted basis. The good news is this was 8 cents less than the loss recorded in the comparable period. The even better news is this was three pennies ahead of estimates, according to TheFly.

Movado Group Inc. (MOV) took a big tumble Wednesday. Shares of the watchmaker plunged almost 13%. Volume was very, very heavy. It was an ugly technical break to the downside.

Fueling this bad move was the third-quarter earnings release. Net sales dropped 5%. Okay, investors don't like reading about a 5% drop in the top line, but that wasn't the worst part: Adjusted income was 12 cents per share. Last year's comparable quarter returned 53 cents in adjusted per-share profit. Huge differential there, huh? Also, the gross margin declined quite precipitously.

Movado (NYSE: MOV) is a watchmaker. It distributes timepieces based on various brands such as Lacoste and Coach (NYSE: COH). And its stock is on the rise today. During early afternoon trading, Movado is up by over 8% on very good volume. As can be expected, an earnings report is behind the excitement.

Now, to be certain, the stats weren't great. Movado is still reeling from the harsh economic times. Sales declined 33% in Q1, and there was a loss per share of $0.37. That compared very unfavorably to a profit of $0.05 per share in the year-ago period. Also, the gross margin slipped significantly.