FOOTWEAR SUCCESS: Reason to kick up heels. Wolverine revenue is racing toward.
Wolverine World Wide Inc., the Rockford-based footwear company known for its rugged shoe and boot brands, Wednesday reported a 27.5-percent jump in profits for 2004, surpassing Wall Street expectations -- and even those of its own executives.
The company said fourth-quarter profits were up 11 percent to $20.7 million, or 52 cents a share, from $18.6 million, or 46 cents a share, in the same period of 2003. After factoring in a 3-for-2 stock split Wednesday, earnings for the quarter were 34 cents a share.
Fourth-quarter revenues were $307.4 million, a rise of 9 percent over $282.8 million reported a year ago. Wolverine said that its order backlog was up 13 percent at the end of the quarter.
Wolverine brands include Hush Puppies, Merrell, Sebago, Harley-Davidson, Caterpillar, Wolverine and Bates.
Article: http://www.freep.com/money/business/www3e_20050203.htm
The company said fourth-quarter profits were up 11 percent to $20.7 million, or 52 cents a share, from $18.6 million, or 46 cents a share, in the same period of 2003. After factoring in a 3-for-2 stock split Wednesday, earnings for the quarter were 34 cents a share.
Fourth-quarter revenues were $307.4 million, a rise of 9 percent over $282.8 million reported a year ago. Wolverine said that its order backlog was up 13 percent at the end of the quarter.
Wolverine brands include Hush Puppies, Merrell, Sebago, Harley-Davidson, Caterpillar, Wolverine and Bates.
Article: http://www.freep.com/money/business/www3e_20050203.htm
posted by Fisher at 12:11 AM
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