ROCKFORD, Mich. (AP) — ROCKFORD, Mich. (AP) — Wolverine World Wide Inc. (WWW) on Thursday reported first-quarter net income of $20.2 million.
The Rockford, Michigan-based company said it had net income of 24 cents per share. Earnings, adjusted for non-recurring costs, were 25 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The footwear maker posted revenue of $457.6 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $446.8 million.
Wolverine expects full-year earnings in the range of $1.43 to $1.58 per share, with revenue in the range of $1.96 billion to $1.99 billion.
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