V.F. Corporation (NYSE:VFC) is seeking acquisitions. Bob Shearer, Chief Financial Officer of V.F. Corporation, said "We are always looking for the next brand that fits our portfolio."

V.F. Corporation reported unaudited consolidated earnings results for the first quarter ended March 30, 2013. For the quarter, the company reported total revenues of $2,611,869,000 against $2,556,455,000 a year ago. Operating income was $357,728,000 compared with $314,102,000 a year ago. Income before income taxes was $338,249,000 against $293,541,000 a year ago. Net income attributable to the company was $270,417,000 or $2.41 per diluted share against $215,216,000 or $1.91 per diluted share a year ago. Cash provided by operating activities was $11,674,000 compared with cash used in operating activities of $112,137,000 a year ago. Capital expenditures were $102,227,000 compared with $25,140,000 a year ago. Software purchases were $10,547,000 compared with $13,370,000 a year ago. Adjusted operating income was $360,470,000 compared with $318,744,000 a year ago. Adjusted net income was $272,652,000 compared with $218,511,000 a year ago. Adjusted diluted earnings per share were $2.43 against $1.94 a year ago. The company reported that revenue guidance for 2013 remains unchanged, with revenues expected to rise by 6% to $11.5 billion. Also unchanged is an expected improvement of 100 basis points in gross margin and nearly a 100 basis point increase in operating margin for the year. Based on slightly stronger than expected first quarter results, adjusted earnings per share in 2013 are now expected to rise to $10.75 per share, up $0.05 from the $10.70 per share guidance provided on February 15. On a GAAP basis, which includes an estimated $0.10 per share in Timberland acquisition-related expenses, earnings per share in 2013 are now expected to rise to $10.65 per share, up $0.05 from the prior guidance of $10.60 per share. Looking forward to the second quarter, last year's adjusted earnings per share of $1.11 included a non-recurring $0.10 per share discrete tax benefit primarily related to the settlement of prior years' audits. On a reported (GAAP) basis, last year's second quarter earnings per share of $1.40 included three non-recurring items: a $0.32 per share benefit related to the sale of John Varvatos, the previously described $0.10 per share discrete tax benefit, and a $0.03 negative impact resulting from Timberland acquisition-related expenses.

VF Corporation Board of Directors declared a quarterly dividend of $0.87 per share, payable on June 20, 2013 to shareholders of record on June 10, 2013.