Wolverine World Wide Inc. (WWW) 2008年年度报告「NYSE」.pdf

1、financial highlights 2008 2007 2006 OPERATING HIGHLIGHTS(in millions)Revenue$1,220.6$1,199.0$1,141.9 Earnings before income taxes 140.6 138.6 122.3 Income taxes 44.8 45.7 38.6 Net earnings 95.8 92.9 83.6 Working capital 282.5 316.0 357.6 Cash provided by operating activities 93.5 123.3 109.7 Capital

2、 expenditures 24.1 17.9 17.1KEY RATIOS Gross margin 39.8%39.4%38.7%Selling,general and administrative expenses as a percentage of revenue 28.3%27.8%27.9%Effective income tax rate 31.8%33.0%31.6%Net earnings as a percentage of revenue 7.9%7.7%7.3%Total debt to total capitalization 12.2%2.2%4.1%Return

3、 on equity 20.7%19.1%17.2%Return on assets 14.1%14.1%12.5%Return on invested capital 18.2%18.0%15.9%PER SHARE OF COMMON STOCK Diluted net earnings$1.90$1.70$1.47 Cash dividends declared 0.44 0.36 0.30CORPORATE STATISTICS Shares used for computing diluted earnings per share(in thousands)50,358 54,488

4、 56,931 Number of employees at year end 4,578 4,651 4,532 Market InformationWolverine World Wide,Imon stock is traded on the New York Stock Exchange under the symbol“WWW”.The following table shows the high and low stock prices on the New York Stock Exchange and dividends declared by calendar quarter

5、 for 2008 and 2007.The number of shareholders of record on February 23,2009 was 1,257.2008 2007Stock Price High Low High Low First quarter$29.17$19.85$31.08$26.78Second quarter 31.21 26.59 30.80 27.30Third quarter 28.66 22.23 29.22 24.55Fourth quarter 29.45 16.24 29.60 23.38Cash Dividends Declared P

6、er Share 2008 2007First quarter$0.11$0.09 Second quarter 0.11 0.09 Third quarter 0.11 0.09 Fourth quarter 0.11 0.09 A quarterly dividend of$0.11 per share was declared during the first quarter of fiscal 2009,payable on May 1,2009 to shareholders of record as of April 1,2009.Annual Report 2008 n 1to