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Rocky Shoes & Boots Inc Q2 revenues increase 139%
28 Jul '05
5 min read
Hunting clothes, work boots online store Rocky Shoes & Boots Inc announced record financial results for the second quarter and six-month period ended June 30, 2005.
For the three months ended June 30, 2005, net sales increased 139 percent to a record $65.5 million compared to $27.4 million for the corresponding period a year ago. Net income rose to a record $2.8 million versus net income of $1.4 million and diluted earnings per share increased to $0.50 versus $0.29 last year.
For the six months ended June 30, 2005, net sales increased 158 percent to a record $127.0 million compared to net sales of $49.3 million for the six months ended June 30, 2004. Net income rose to $3.9 million versus net income of $1.5 million a year ago, and diluted earnings per share increased to $0.70 versus $0.31 for the corresponding period last year.
On January 6, 2005, Rocky Shoe & Boots, Inc. completed the acquisition of EJ Footwear Group. The results for the three month and six month period ended June 30, 2005 represent the performance of the consolidated company, while the year ago results reflect Rocky Shoes & Boots on a stand-alone basis.
Mike Brooks, Chairman and Chief Executive Officer of Rocky Shoes & Boots, stated, "Company is very pleased with their results for the quarter, which were primarily driven by a strong increase in sales and significant gross margin expansion. Rocky financial performance continues to benefit from the acquisition of EJ Footwear, evidenced by company record revenues and earnings during the first half of fiscal 2005. The combination of Rocky and EJ Footwear has created a powerful new operating platform and they are committed to capitalizing on their growing position in the market."
For the three months ended June 30, 2005, net sales increased 139 percent to a record $65.5 million compared to $27.4 million for the corresponding period a year ago. Net income rose to a record $2.8 million versus net income of $1.4 million and diluted earnings per share increased to $0.50 versus $0.29 last year.
For the six months ended June 30, 2005, net sales increased 158 percent to a record $127.0 million compared to net sales of $49.3 million for the six months ended June 30, 2004. Net income rose to $3.9 million versus net income of $1.5 million a year ago, and diluted earnings per share increased to $0.70 versus $0.31 for the corresponding period last year.
On January 6, 2005, Rocky Shoe & Boots, Inc. completed the acquisition of EJ Footwear Group. The results for the three month and six month period ended June 30, 2005 represent the performance of the consolidated company, while the year ago results reflect Rocky Shoes & Boots on a stand-alone basis.
Mike Brooks, Chairman and Chief Executive Officer of Rocky Shoes & Boots, stated, "Company is very pleased with their results for the quarter, which were primarily driven by a strong increase in sales and significant gross margin expansion. Rocky financial performance continues to benefit from the acquisition of EJ Footwear, evidenced by company record revenues and earnings during the first half of fiscal 2005. The combination of Rocky and EJ Footwear has created a powerful new operating platform and they are committed to capitalizing on their growing position in the market."
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