HAMPTON, N.H. -- The Timberland Co. reported earnings surged 46 percent in the fourth quarter and 74 percent in the full year ended Dec. 31 but the company's stock slumped 9 7/8 to close at 43 1/2 on the New York Stock Exchange Friday.

In the quarter, the company reported earnings totaled $7 million, or 62 cents a share, against $4.8 million, or 44 cents.

Lee H. Allen, president of Allen Financial Advisors, said Timberland's earnings came in at the low end of expectations. He had predicted 63 cents a share for the quarter and $2.02 for the year.

Sales in the three months rose 39 percent to $123.2 million from $88.6 million.

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