Wolverine Worldwide Q4 Adj. Earnings Meet Estimates; Issues FY15 Outlook

(RTTNews) - Shoemaker Wolverine Worldwide Inc. (WWW) Tuesday reported fourth-quarter net earnings attributable to the company of $10.7 million or $0.10 per share, compared to net loss of $1.7 million or $0.02 per share in the comparable quarter last year.

Excluding certain items, earnings increased 36.4% to $0.30 per share from $0.22 per share last year. On average, 16 analysts polled by Thomson Reuters expected the company to earn $0.30 per share. Analysts' estimates typically exclude one-time items.

Revenues rose 9.2% to $808.9 million, from $740.8 million a year earlier, while 13 analysts had a consensus revenue estimate of $808.11 million for the quarter.

For fiscal 2015, the company expects earnings to be in the range of $1.46 to $1.53 per share, adjusted earnings in the range of $1.53 to $1.60 per share and annual revenue of $2.82 billion from the $2.87 billion. Analysts expect the company to report annual earnings of $1.65 on revenues of $2.88 billion.