Wolverine World Wide Q1 Profit Increases, beats estimates

(RTTNews) - Wolverine World Wide (WWW) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $19 million, or $0.23 per share. This compares with $9.7 million, or $0.12 per share, in last year's first quarter.

Excluding items, Wolverine World Wide reported adjusted earnings of $0.09 per share for the period.

Analysts on average had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.5% to $599.4 million from $614.8 million last year.

Wolverine World Wide earnings at a glance (GAAP) :

-Earnings (Q1): $19 Mln. vs. $9.7 Mln. last year. -EPS (Q1): $0.23 vs. $0.12 last year. -Analyst Estimate: $0.03 -Revenue (Q1): $599.4 Mln vs. $614.8 Mln last year.