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Wolverine World Wide Inc Revises FY 2012 Revenue Guidance To A Range Below Analysts' Estimates; Issues Q4 2012 Revenue Guidance

Tuesday, 16 Oct 2012 06:30am EDT 

Wolverine World Wide Inc announced that it is expecting a stronger at-once order environment in its fourth quarter of 2012, the Company expects continued European macroeconomic turmoil to present challenges over the balance of fiscal 2012. The revised fiscal 2012 revenue guidance is in the range of $1.425-$1.435 billion. The midpoint of this guidance implies fourth quarter revenue of approximately $441 million. Excluding the impact of the PLG acquisition, the Company now expects diluted earnings in the range of $2.26 to $2.31 per share. Including the contribution from PLG from the date of closing forward, fiscal revenue is expected to be in the range of $1.645 billion to $1.655 billion. As disclosed last week, the Company expects the contribution to earnings from the PLG acquisition in the 2012 stub period to be dilutive in the range of $0.25 to $0.30 per share, driven primarily by the transaction closing date and the seasonality of PLG's business. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.672 billion and EPS of $2.36 for fiscal 2012. 

Company Quote

-0.03 -0.12%
23 Jul 2014