Weyco Group, Inc. WEYS today announced financial results for the quarter and year ended December 31, 2010.
FOURTH QUARTER
Net sales for the fourth quarter were $62.3 million, up 7% compared to fourth quarter 2009 sales of $58.4 million. Net earnings attributable to Weyco Group, Inc. were $5.1 million in 2010, up from $4.8 million in 2009. Diluted earnings per share were $0.45 per share in 2010 as compared with $0.41 per share in 2009.
In the Company's wholesale segment, which includes North American wholesale operations and licensing revenues, net sales were $44.7 million in 2010 compared with $44.0 million in the same period in 2009. Wholesale sales were $43.9 million in 2010, compared to $43.2 million in 2009. Licensing revenues were $766,000 in both 2010 and 2009. Wholesale net sales of Stacy Adams footwear were up 12%, while Nunn Bush and Florsheim were down 4%, and 2%, respectively.
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