Outdoor financials: Winmark reports Q2 results, finalizes $30 million credit line, plus Wolverine

For the second quarter, Winmark Corp. (Nasdaq: WINA), which franchises retail store brands such as Play It Again Sports, said it was able to grow its profits while keeping expenses relatively flat when compared to last year. Plus, Wolverine declares cash dividend.
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Winmark reports Q2 results, finalizes $30 million credit line

For the second quarter, Winmark Corp. (Nasdaq: WINA), which franchises retail store brands such as Play It Again Sports, said it was able to grow its profits while keeping expenses relatively flat when compared to last year.

For the quarter ended June 26, its net income was $2.3 million, or $0.45 per share, compared to $1.1 million, or $0.22 per share, in 2009.

Revenue was up on higher royalties and leasing income to $9.8 million versus $8.8 million in the same period last year.

Separately, Winmark said it finalized an agreement for a $30 million credit line with PrivateBank and Trust Co. It will put the credit line toward its redemption of renewable unsecured subordinated notes and general corporate uses, it said.

Wolverine declares cash dividend

Wolverine World Wide (NYSE: WWW), parent of Merrell and Chaco, has declared a quarterly cash dividend of $0.11 per share of common stock. The dividend is payable on Nov. 1 to stockholders of record on Oct. 1. The company said the dividend is equal to the last quarterly dividend and reflects an indicated annual dividend of $0.44 per share.

--Compiled by Wendy Geister

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