Shoe Trader Flynn Third Profit Growth 27%

October 6th, footwear manufacturers

The company also raised its annual profit forecast for the second time.

In the fiscal quarter ending September 11th, the company's net profit increased to $34 million 100 thousand, or 70 cents per share, from 26 million 800 thousand cents a share, or 54 cents a share.

Revenue grew 12%, from $287 million in the same period last year to $320 million.

Analysts surveyed by Thomson Reuters average expected earnings of 67 cents per share and $321 million in revenue.

Flynn said that the appreciation of the dollar has led to a 1.1% reduction in its revenue.

Black and Krueger, chairman and chief executive of the company, said in a statement: "our excellent financial performance has a broad foundation. All brand business departments, including the consumer direct sales department and the leather Department, have contributed to the strong growth of revenue." Blake Krueger

Flynn now expects earnings per share of 2.04-2.08 in the 2010 fiscal year to be adjusted to be $1 billion 200 million, or $1 billion 200 million billion.

Previously, it was expected to be 1.98-2.04 dollars per share, with a revenue of 1 billion 190 million -12.2 billion.

Analysts expect the company to make a profit of $2.08 a year on average.

Flynn raised the annual profit forecast for the first time in July.

Krueger said: "although the recovery of consumption is not as strong or stable as many people expected, we are still encouraged by our retail partners and consumers' enthusiasm for our global lifestyle brand."

He added that the company's outstanding orders were "extraordinarily strong."

Flynn is headquartered in Rockford, Michigan.