Wolverine releases Q1 earnings snapshot

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ROCKFORD — Wolverine Worldwide Inc. (WWW) on Wednesday reported first-quarter earnings of $9.7 million.

On a per-share basis, the Rockford-based company said it had net income of 12 cents. Earnings, adjusted for non-recurring costs, were 41 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The footwear maker posted revenue of $614.8 million in the period, which also beat Wall Street forecasts. Five analysts surveyed by Zacks expected $605.1 million.

Wolverine expects full-year earnings in the range of $2.50 to $2.65 per share, with revenue in the range of $2.78 billion to $2.85 billion.

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