Wolverine posts record revenue, earnings
ROCKFORD — Wolverine World Wide Inc. reported record revenue and earnings per share for the second quarter of 2008, marking 24 consecutive quarters of record results.
Revenue totaled $267.4 million in the quarter, a 6.8 percent increase over second quarter revenue in the prior year. Earnings per share grew 17.9 percent to 33 cents versus 28 cents in the second quarter of 2007.
For the first half of 2008, revenue reached $555.6 million, a 4.6 percent gain over the first half of last year. Earnings per share for the first half were 79 cents, up 17.9 percent from the same period of 2007.
President and CEO Blake W. Krueger noted that the revenue increase was geographically diverse, as all global regions reported sales increases in the quarter.
“Our strong financial results were broad-based — all four of our branded operating groups contributed to the revenue increase as consumers around the world continued to embrace the style, performance and innovation of the lifestyle brands in the Wolverine portfolio.”