Wolverine Worldwide Provides Preliminary Unaudited Financial Results for the Fourth Quarter and Full Year Ended January 3, 2015 and Initial Outlook for Fiscal 2015
Revenue for the full-year 2014 of approximately $2.76 billion, representing growth of 2.6% compared to prior-year revenue of $2.69 billion. Adjusted diluted earnings per share for the full-year 2014 at the high end of the previous earnings guidance of $1.57 to $1.63 per share. On a reported basis, diluted earnings per share to be consistent with the previous guidance of $1.32 to $1.38. Anticipated record operating cash flow for the year, enabling the company to reduce interest-bearing debt by approximately $250 million during fiscal 2014, including $175 million of accelerated, voluntary principal payments during the fourth fiscal quarter, a portion of which were attributed to the company's new accounts receivable financing facility.
The company currently expects its full-year 2015 adjusted diluted earnings per share to be approximately flat compared to 2014.