Originally published at www.seclive.com
Wolverine World Wide Inc. (NYSE:WWW) announced its financial results for the third quarter of fiscal year 2013, reporting earnings up 66%. The owner of the Merrell and Hush Puppies brand shoes is continuing to see progress in its operations following the acquisition of Collective Brands last year. Excluding the effects of the acquisition, Wolverine revenue increased 9% but otherwise it sharply increased from $353.1M to $716.7M. The company's gross margin improved slightly from 39.2% to 39.9% while its production as well as general administrative expenses all doubled to an approximate $623M total. Earnings improved from $32.7M and $0.66 per share a year ago to $54.4M and $1.08 earnings per share. Removing the acquisition effects, earnings per share were up from $0.72 to $1.16, beating analyst predictions of $1.03 per share.
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