Weyco Reports Fourth Quarter and Full Year 2010 Results

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.