By
Reuters
Reuters
Published
Feb 18, 2011
Feb 18, 2011
Timberland Q4 results top estimates
By
Reuters
Reuters
Published
Feb 18, 2011
Feb 18, 2011
Feb 17 - Timberland Co posted higher quarterly results that blew past market expectations as the footwear maker saw strong demand for its products across markets.
Timberland shoes |
The company's shares were up 11 percent in pre-market trading.
Timberland, known for its Earthkeepers, Howies and Mountain Athletics brands, earned 82 cents a share on revenue of $491.1 million for October-December.
Analysts on average had expected earnings of 51 cents a share on revenue of $411.6 million, according to Thomson Reuters I/B/E/S.
On Wednesday, rival Skechers USA Inc reported a lower-than-expected fourth-quarter profit and said it expected a continued margin squeeze through the first half of the year as it grapples with an inventory pile-up from slowing sales of its once-trendy toning shoes.
Timberland said revenue in North America rose 16.8 percent, 32.3 percent in Europe and 58.5 percent in Asia in the quarter.
As Stratham, New Hampshire-based Timberland's shares, which have gained nearly 16 percent since the company reported third-quarter results in November, closed at $29.50 on Wednesday on the New York Stock Exchange. They were up at $32.63 in pre-market trading.
(Reporting by Renju Jose and NR Sethuraman; Editing by Maju Samuel)
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