Weyco Reports Q1 Earnings

Net Income: Net earnings attributable to Weyco Group Inc. rose 13 percent to $3.6 million in the first quarter, ended March 31, 2015, from $3.2 million in last year’s first quarter.

EPS: Diluted earnings per share increased to 33 cents in Q1, up from 29 cents per share in the first quarter of 2014.

Net Revenue: Net sales, for the company behind Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters and Umi, rose 4 percent year-over-year to $78.1 million compared to the same year-ago quarter’s $74.9 million.

Hit, Miss or Beat: The Milwaukee-based footwear company’s performance nearly hit Wall Street’s forecast for the quarter. Analysts polled by Yahoo Finance predicted revenues of $78.3 million in Q1.

Executive Insights: “We are excited to have achieved record first quarter sales,” said Thomas Florsheim, Jr., Weyco’s CEO, in a release. “Our sales increase was spurred by our sixth consecutive quarter of double-digit sales growth for our Bogs brand, as well as strong sales of our Stacy Adams and Nunn Bush products. We look forward to building upon these successes in the second quarter.”

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