Shoe Maker Flynn Net Profit Increased 27% In The Third Quarter.

October 8th, footwear manufacturers wolverine The company (WolverineWorldWide) (WWW) announced that its net profit in the third quarter increased by 27%, thanks to the strong performance of all sectors.

The company also raised its annual profit forecast for the second time.

In the fiscal quarter ending September 11th, the company's net profit increased to $34 million 100 thousand, or 70 cents per share, from 26 million 800 thousand cents a share, or 54 cents a share.

Revenue grew 12%, from $287 million in the same period last year to $320 million.

Analysts surveyed by Thomson Reuters average expected earnings of 67 cents per share during the quarter. revenue 321 million dollars.

Flynn said that the appreciation of the dollar has led to a 1.1% reduction in its revenue.

Black and Krueger, chairman and chief executive of the company, said in a statement: "our excellent financial performance has a broad foundation. All the brand business departments, including the consumer direct selling department and the leather Department, have contributed to the strong growth of revenue." BlakeKrueger

Flynn now expects earnings per share of 2.04-2.08 in the 2010 fiscal year to be adjusted to be $1 billion 200 million, or $1 billion 200 million billion. Previously, it was expected to be 1.98-2.04 dollars per share, with a revenue of 1 billion 190 million -12.2 billion.

Analysts expect the company to make a profit of $2.08 per share and $1 billion 210 million in revenue.

Flynn raised the annual profit forecast for the first time in July.

Krueger said: "although the recovery of consumption is not as strong or stable as many people expected, we are still encouraged by our retail partners and consumers' enthusiasm for our global lifestyle brand." He added that the company's outstanding orders were "extraordinarily strong."

Flynn is headquartered in Rockford, Michigan. brand Including HushPuppies and Merrell.