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Timberland reports profit climbs slightly in Q4

09
Feb '06
Outdoor footwear and clothing business Timberland Company has reported its fourth quarter net income of $46.9 million, compared with fourth quarter 2004 net income of $45.0 million.

Fourth quarter 2005 results included pre-tax costs of $1.7 million related to the company's previously disclosed restructuring of its Caribbean manufacturing facilities.

For the full year, Timberland posted revenue of $1,565.7 million (+4.3 percent versus prior year in actual and constant dollars) and diluted earnings per share of $2.43 (+13.6 percent versus prior year) - both records for the company.

Fourth quarter revenue increased 2.3 percent over strong prior-year results to a record $465.3 million, driven by gains in both US and international markets. US revenues grew 2.6 percent as gains in kids', men's casual and Timberland PRO series footwear and men's apparel sales offset anticipated decreases in women's casual footwear and boot sales.

International results (+1.7 percent or +8.2 percent in constant dollars) were driven by strong constant dollar sales gains in Europe and Asia in both footwear and apparel.

Fourth quarter results were supported by global gains in both footwear and apparel. Global footwear revenues grew 1.4 percent to $357.5 million driven by growth in kids', men's casual and Timberland PRO series categories. Apparel and accessories revenue increased 5.4 percent to $103.2 million reflecting gains in both US and international markets.


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