The Timberland Company has reported record fourth quarter net income of $45.0 million compared with fourth quarter 2003 net income of $39.5 million. The US company said that the record results capped a year of outstanding performance, with double-digit revenue gains, significant improvement in operating margin and strong cash flow generation. For the full year, Timberland posted revenue of $1,500.6 million (+11.8%) and operating profit of $233.9 million (+26.9%) - both of which are records for the company.

Fourth quarter revenue increased 9.4% to $454.7 million, driven by gains in both US and international markets. US revenues grew 5.2%, reflecting solid footwear gains – and balanced growth across wholesale (+5.2%) and retail channels (+5.3%). International results (+19.3% or +11.9% in constant dollars) were driven by double-digit constant dollar sales gains in Europe and Asia and continued progress in building key expansion markets such as Canada. Overall revenue growth benefited from favorable foreign exchange rate changes - which added $9.2 million (or 2.2%) to fourth quarter revenue.

Fourth quarter results were supported by strong global footwear sales. Global footwear revenues expanded 10.0% to $352.3 million, driven by growth in boots, children’s and Timberland PRO Series categories. Global apparel and accessories revenue grew 7.5% to $97.9 million, reflecting gains in international markets.

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