Timberland announces ‘record’ first quarter revenue and earnings
The US rugged bootmaker Timberland last week reported record results for the quarter ended March 30, 2001 amounting to $17.5 million, or $0.43 per share.
The same figures for the first quarter last year were $14.7 million, or $0.34 per share.
Revenue for the first quarter of 2001 totalled $245.4 million, 17.7 percent up on the $208.6 million recorded the previous year. The New Hampshire-based company says the results reflect its February 2000 acquisition of four Asian subsidiaries and its August 2000 purchase of assets in Taiwan from Inchcape plc, its former distributor for the Asia/Pacific region. Excluding the impact of January 2001 revenue for Asia, revenue for the first quarter of 2001 grew 14.5 percent. Domestic revenue for the first quarter of 2001 was $154.5 million,
