LaCrosse Footwear Q1 sales, earnings up

02 May '06

3 min read

Outdoor footwear specialist LaCrosse Footwear Inc, a leading provider of branded work and outdoor footwear for expert users, has reported results for the first quarter ended April 1st 2006.

For the first quarter of 2006, LaCrosse reported consolidated net sales of $21.4 million, up 13 percent from $18.9 million in the first quarter of 2005. Approximately $1.7 million of the net sales in the first quarter of 2006 can be attributed to five additional business days compared to the first quarter of 2005, a result of the company's quarterly reporting calendar.

The net income was $0.4 million or $0.06 per diluted share in the first quarter of 2006, up 23 percent from $0.3 million or $0.05 per diluted share in the first quarter of 2005.

Sales to the work market were $13.6 million for the first quarter, up 14 percent from $12.0 million for the same period in 2005. The year-over-year growth in work sales primarily reflects the success of the company's innovative new products and continued penetration into the general work and fire boot markets.

Sales to the outdoor market were $7.8 million for the first quarter of 2006, up 13 percent from $6.9 million for the same period in 2005. The year-over- year growth primarily reflects the success of innovative new products and continued penetration into hunting and hiking boot markets.

The company continued to improve its overall gross margin, which was a record 39.2 percent of net sales for the first quarter of 2006, up from 37.1 percent in the same period of 2005, an increase of 210 basis points. The continued margin improvement reflects the increased sales of higher-margin products introduced in recent years and a reduction in the rate of sales discounts and allowances.

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