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You may not know this company's name but you sure know with big brands this footwear company's earnings beat the street today and scored some big time military contracts.
Joining me now -- a Fox Business exclusive from Grand Rapids, Michigan -- Grimes.
The chief financial officer of Wolverine.
Worldwide -- let's get right to it hush puppies Patagonia Harley-Davidson footwear.
And you beat the street by about three pennies congratulations what is the number one thing that's driving this retail -- -- company.
Because a lot of people are struggling in this round.
Well you're right we had a great quarter we had our.
Of the first three quarters of the fiscal year we've had record revenue through the first three quarters of record earnings per share all three quarters.
We think it all comes back to the brands we have twelve dynamic lifestyle brands in the portfolio.
And we -- a pretty unique business model we think info -- -- that the of the business model that distributes our brands and -- -- countries around the world.
We rely on a network of 953 party distributors and -- -- for a multi brand of multi geography multi distribution channel model.
That actually reduces.
Our exposure in tough economic times and when times are aren't going well we perform even better.
OK on our screen are I believe those are are those Harley-Davidson -- they might be and then we of course have military boots you've got the marine contract but you've just got the navy -- contract.
That's worth about nine point six million dollars.
Can we infer that business in the military at least from where you stand is looking pretty healthy at the moment that they are spending at least in certain areas.
We we can compete quite effectively in the military with our -- brand we announced today -- -- Carl -- we stated today.
We recently gained -- a contract for the -- -- all altering boot -- for the Marines and about a 105000 pairs.
The winning military contracts pays dividends for debates brand because again that gives it credibility that pays off and -- -- -- civilian channel for the brand.
I've got to tell our viewers you're your revenue up 12% year over year you've lifted your full year forecast.
For the second time now so I can tell business must be good but.
The dividend you have given a dividend -- quarterly dividend always this quarter no exception.
It -- that be up to a certain point is that negotiable.
Are indicating a dividend is 44 cents per share.
Amongst appears that we compare ourselves to only about half of our peer companies actually pay dividends we felt like that our ability to continue to pay the dividend.
As a function of our strong and sustainable cash flow we are very strong cash -- dinner that company.
You mention in your opening remarks on a company haven't heard of before we tend to fly maybe.
Under the radar screen as a company but our brands are fairly well known shore -- -- a company that was found that an 1883.
-- we had record free cash flow last year behind 46 million dollars so.
We intend to continue to share Cassel was shareholders in the form of dividends and periodic share repurchases.
And the stock is up 17% Europe for -- we try Fox Business not just to focus of course we do on the big game but.
Also on stocks like -- so we do appreciate you coming on.
-- -- I'd like the marine -- I Q how cooler than ups love does thank you so much.
Done drugs is the chief financial officer of Wolverine.
Worldwide and they just got big military contractor for marine.
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