Oct 29, 2009
Timberland third quarter results top Wall Street expectations
Oct 29, 2009
Oct 29 (Reuters) - Footwear maker Timberland Co's (TBL.N) third-quarter results outpaced market expectations, boosted by strong performance in North America and at its footwear segment.
The company, known for its Earthkeepers, howies and Mountain Athletics brands, reported a 23 percent jump in net income to $37.8 million, or 68 cents a share, up from $30.7 million, or 52 cents a share, a year earlier.
Revenue dropped marginally to $421.8 million.
Analysts on average were looking for earnings of 45 cents a share on revenue of $386.3 million, according to Thomson Reuters I/B/E/S.
Timberland, whose rivals include Skechers USA Inc (SKX.N), Wolverine Worldwide Inc (WWW.N) and Deckers Outdoor (DECK.O), said revenue at its North America and footwear segments rose 2 percent to $188.2 million and $319.1 million, respectively.
Shares of the Stratham, New Hampshire-based company were up 4 percent at $13.89 in trading before the bell. They closed at $13.31 Wednesday 28 October on the New York Stock Exchange.
For the alerts, double-click (Reporting by Shradhha Sharma in Bangalore; Editing by Maju Samuel)
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