*Wolverine closed higher by +6.54% on the Wednesday, October 5th session...
Wolverine 3Q Profit Climbs 12 Percent Wednesday October 5, 8:22 am ET Wolverine Third-Quarter Profit Rises 12 Percent on Strong Brand Sales, Increases Guidance
ROCKFORD, Mich. (AP) -- Wolverine World Wide Inc., the maker of Hush Puppies shoes, on Wednesday reported third-quarter profit rose 12 percent on strong sales for all three of its major brands.
Quarterly profit rose to $24.6 million, or 42 cents per share, from $21.9 million, or 37 cents per share. Sales rose 7 percent to $279.1 million from $260.9 million.
Analysts surveyed by Thomson Financial expected earnings of 41 cents per share on revenue of $279.3 million.
"Three of our major operating groups, the Hush Puppies Company, the Heritage Group and the Outdoor Group all posted double-digit earnings gains, and the Wolverine Footwear Group matched its third quarter 2004 performance," said Chairman and CEO Timothy J. O'Donovan in a statement.
O'Donovan said Wolverine's backlog increased 19 percent during the quarter, and raised its 2005 earnings per share forecast to $1.26 to $1.28 from $1.22 to $1.27. The company also expects to post revenue of $1.05 billion to $1.06 billion.
For 2006, Wolverine projects earnings of $1.38 to $1.44 per share on revenue of $1.11 billion to $1.13 billion.
Wall Street expects 2005 earnings of $1.27 per share on revenue of $1.07 billion, and 2006 results of $1.43 per share on revenue of $1.14 billion.
Market Data 
Markets 
AI
