LaCrosse Footwear earnings rise on higher sales in Q2

01 Aug '06

3 min read

LaCrosse Footwear Inc, a leading provider of branded work and outdoor footwear, reported results for the second quarter ended July 1, 2006.

For the second quarter of 2006, LaCrosse reported consolidated net sales of $21.8 million, up 10% from $19.8 million in the second quarter of 2005.

For the first half of 2006, consolidated net sales were $43.2 million, up 12% from $38.6 million in the same period of 2005. Approximately 4% of the revenue and expenses in the first half of 2006 can be attributed to five more business days (in the first quarter) than in the first half of 2005, due to the nature of the company's reporting calendar.

Net income was $1.2 million or $0.19 per diluted share in the second quarter of 2006, up 189% from $0.4 million or $0.07 per diluted share in the second quarter of 2005. Results for the second quarter of 2006 include an income tax benefit for research and development of approx. $0.5 million or $0.08 per diluted share.

For the first half of 2006, net income was $1.6 million, or $0.25 income per diluted share, up 116% from $0.7 million or $0.12 per diluted share in the same period of 2005.

Sales to the work market were $12.5 million for the second quarter, up 15% from $10.8 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, public safety and fire boot markets.

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