Guess Inc. continues to struggle with lower sales and profits.

The Los Angeles jean maker on Tuesday reported a sharp drop in third-quarter profit due largely to currency fluctuations. Guess reported a quarterly profit of $12.4 million, or 15 cents a share, down from $20.8 million, or 24 cents a share, a year ago.

Total revenue for the third quarter decreased nearly 12 percent to $521 million.

The Dow Jones News Service said Guess now projects full-year profit of 93 cents to $1.02 a share with sales declining 8.5 percent to 9.5 percent, compared with its earlier outlook of profit of 89 cents to $1.02 a share with sales declining 8 percent to 9 percent.

On Wednesday, shares of the company traded up 6.35 percent to hit 20.78.