Wolverine World Wide Q3 Profit Declines 52%

(RTTNews) - Wolverine World Wide (WWW) released earnings for third quarter that dropped from last year.

The company said its bottom line totaled $23.2 million, or $0.24 per share. This was down from $48.2 million, or $0.49 per share, in last year's third quarter.

Analysts had expected the company to earn $0.37 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.7% to $581.3 million. This was down from $603.7 million last year.

Wolverine World Wide earnings at a glance:

-Earnings (Q3): $23.2 Mln. vs. $48.2 Mln. last year. -Earnings Decline (Y-o-Y): -51.9% -EPS (Q3): $0.24 vs. $0.49 last year. -EPS Decline (Y-o-Y): -51.0% -Analysts Estimate: $0.37 -Revenue (Q3): $581.3 Mln vs. $603.7 Mln last year. -Revenue Change (Y-o-Y): -3.7%

-Guidance: Full year EPS guidance: $1.60 - $1.65 Full year revenue guidance: $2.34 - $2.37 Bln