Timberland reports record 3Q revenue, warns of dip in 4th

Timberland Company (NYSE:TBL) reported that 3Q earnings for 2002 were $49.2 million, compared with $48.5 million in 3Q 2001.
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Timberland Company (NYSE:TBL) reported that 3Q earnings for 2002 were $49.2 million, compared with $48.5 million in 3Q 2001. Revenues totaled $416.6 million, compared with $396.2 million in 3Q 2001. Domestically, Timberland's sales dipped 2 percent to $273.1 million. What pushed the company into record levels was a strong international market with a 22-percent increase in international sales to $143.5 million. According to the company, international revenue accounted for 34.4 percent of the total third quarter company revenue in 2002, compared with 29.7 percent in 3Q 2001. Despite feeling very good about the company's international position, improved earnings and recognition by financial analysts for strong cash management, company CEO Jeffrey Swartz said he believes that fourth quarter financial results will dip because of high transportation costs and the potential for lost revenue associated with the recent work stoppage in western U.S. ports.

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