ROCKFORD, Mich. (AP) — ROCKFORD, Mich. (AP) — Wolverine World Wide Inc. (WWW) on Thursday reported first-quarter net income of $11.1 million.
On a per-share basis, the Rockford, Michigan-based company said it had net income of 13 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The footwear maker posted revenue of $412.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $395.3 million.
For the current quarter ending in June, Wolverine expects its per-share earnings to range from 19 cents to 24 cents.
The company said it expects revenue in the range of $440 million to $450 million for the fiscal second quarter.
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