Wolverine World Wide, the Michigan-based maker of Hush Puppies, Caterpillar Boots and Merrell hiking shoes posted a 17.9% increase in profit-per-share during the second quarter, according to the Grand Rapids Press.  This increase beat analyst expectations for the period.  Excerpts and link:

ROCKFORD — Wolverine World Wide Inc. continued its streak of record sales, reporting today second-quarter revenue rose 6.8 percent.

Sales increased to $267.4 million from $250.3 million in the same period last year. Profits per share grew 17.9 percent to 33 cents a share.

That beat analysts’ average forecast of 31 cents per share for the second quarter, which ended June 14.

The results marked the 24th consecutive quarter of record sales for the Rockford-based footwear company.

“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. Our revenue increase was also geographically diverse, as all global regions reported sales increases in the quarter,” CEO Blake Krueger said in a statement.

Wolverine is maintaining its annual profit outlook of $1.23 billion to $1.26 billion and its earnings per share range of $1.83 to $1.90, reflecting growth of 7.6 percent to 11.8 percent.

http://blog.mlive.com/grpress/2008/07/wolverine_extends_string_of_sa.html

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