ROCKFORD, Mich. (AP) — ROCKFORD, Mich. (AP) — Wolverine World Wide Inc. (WWW) on Wednesday reported first-quarter earnings of $19 million.
The Rockford, Michigan-based company said it had net income of 23 cents per share. Earnings, adjusted for non-recurring gains, were 9 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The footwear maker posted revenue of $599.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $580.9 million.
Wolverine expects full-year earnings in the range of $1.40 to $1.60 per share, with revenue in the range of $2.6 billion to $2.65 billion.
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