USA : Wolverine reports Q4 revenue & earnings with EPS up 16.7%

January 31, 2007
Wolverine World Wide Inc reported record revenue and earnings per share for its fourth quarter and 2006 fiscal year, marking its sixth consecutive year of record results. "The Company had an exceptional year in 2006 as illustrated by our strong financial performance," stated Timothy J. O'Donovan, the Company's Chairman and CEO. The Company achieved record revenue totaling $1.142 billion for 2006, a 7.6 percent increase over 2005 revenue of $1.061 billion. For the fourth quarter of 2006, the Company reported revenue of $341.7 million, a 6.5 percent increase over fourth quarter 2005 revenue of $321.0 million. Fourth quarter 2006 earnings per share increased to $0.42, a 16.7 percent increase over fourth quarter 2005 earnings per share of $0.36. Fiscal 2006 earnings per share grew to a record $1.47, which reflected a 15.7 percent increase over the $1.27 reported in 2005 and exceeded the Company's earnings per share estimate. Included in the fourth quarter and full-year 2006 results is a one-time $0.02 per share income tax benefit, resulting from the closure of prior year tax audits.

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