Footwear firm Wolverine World Wide reported higher third-quarter profit and sales and upped its full-year expectations.

Quarterly net income totalled US$26.1m compared to $24.6m the year before while revenue was $298.9m, a 7.1% rise from last year.

For the first three quarters of 2006, earnings were $1.05 per share compared to $0.91 last year and revenue reached $800.2m, an 8.0% gain over the $740.0m reported in 2005.

"We are pleased to have achieved our seventeenth consecutive quarter of record revenue and earnings per share," stated Timothy J O'Donovan, the company's chairman and CEO.

"Our strategy of building a strong portfolio of global consumer brands continues to drive consistent growth and exceptional earnings performance.

"Three of our four major operating groups, the Hush Puppies Company, the Heritage Brands Group and the Outdoor Group, all posted revenue and earnings gains in the quarter, and the Wolverine Footwear Group experienced a decline principally due to the planned reduction in the Bates military business."

Wolverine has increased its earnings per share estimate for the full year to $1.41-$1.44 from $1.38 to $1.42.