ROCKFORD, Mich. (AP) — ROCKFORD, Mich. (AP) — Wolverine World Wide Inc. (WWW) on Thursday reported second-quarter profit of $24 million.
The Rockford, Michigan-based company said it had net income of 30 cents per share. Earnings, adjusted for non-recurring gains, came to 19 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The footwear maker posted revenue of $589.1 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $583 million.
Wolverine expects full-year earnings in the range of 45 cents to 55 cents per share, with revenue in the range of $2.31 billion to $2.33 billion.
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