Wolverine World Wide Inc reported record revenue and earnings per share for the second quarter of 2007, and increased its full-year 2007 earnings per share estimate.
Second quarter 2007 revenue totaled $250.3 million, a 5.0 percent increase over second quarter 2006 revenue of $238.5 million. Earnings per share for the second quarter of 2007 were $0.28 compared to the $0.25 reported for the second quarter of 2006, an increase of 12.0 percent.
For the first half of 2007, revenue reached $531.4 million, a 6.0 percent gain over the $501.3 million reported for the first half of 2006. Earnings per share for the first half of 2007 grew to $0.67 per share, up 13.6 percent from $0.59 per share for the same period of 2006.
Blake W. Krueger, the Company's CEO and President commented, "We are pleased to report another record quarter for the Company, achieving our 20th consecutive quarter of both record revenue and earnings per share. Our strong performance in the quarter was broad-based across our branded footwear groups, with the Merrell brand leading the way with strong double-digit gains in both revenue and earnings. Both the Heritage Brands Group and Hush Puppies business also realized solid revenue and earnings gains in the quarter. Planned decreases in the military contract and private label businesses offset other revenue gains in the Wolverine Footwear Group during the quarter.
"We are encouraged by the Company's record performance in the first half of 2007. Our business model of operating multiple brands across diverse global markets and distribution channels continues to exceed expectations. Our innovative product offerings remain in demand and are being embraced by the global consumer."
marketing@alchempro.com
