Wolverine World Wide Inc. said its normalized net income for the fiscal first quarter ended March 28 came to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.
In the prior-year period, the per-share result came in at a profit of 34 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $33.8 million, compared with $33.6 million in the prior-year period.
The normalized profit margin fell to 5.4% from 5.4% in the year-earlier period.
Total revenue totaled $631.4 million, compared with $627.6 million in the prior-year period, and total operating expenses grew year over year to $568.8 million from $561.9 million.
Reported net income grew 9.6% year over year to $39.4 million, or 39 cents per share, from $36.0 million, or 36 cents per share.
