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LaCrosse continues to maintain strong gross margins

25
Apr '08
LaCrosse Footwear Inc, a leading provider of branded work and outdoor footwear, reported results for the first quarter ended March 29, 2008.

For the first quarter of 2008, LaCrosse reported consolidated net sales of $24.7 million, up 4% from $23.7 million in the first quarter of 2007. Net income was $0.8 million or $0.12 per diluted share in the first quarter of 2008, up 29% from $0.6 million or $0.10 per diluted share in the first quarter of 2007.

Sales to the work market were $17.9 million for the first quarter of 2008, up 16% from $15.4 million for the same period of 2007. The growth in work market sales reflects shipments related to three military orders and continued penetration into a variety of general and specialized work boot markets.

During the first quarter of 2008, the Company shipped approximately $1.7 million of the announced delivery orders to the United States Marine Corps and the U.S. Army, and expects to ship the $1.8 million balance of these orders in the second quarter.

Sales to the outdoor market were $6.8 million for the first quarter of 2008, compared to $8.3 million for the same period of 2007. The decline in overall outdoor sales was primarily due to a $1.3 million decrease in sales to the Company's European distributor because of unfavorable weather conditions in the Company's principal sales regions of Europe and a generally cautious retail environment in North America.

The Company continued to maintain strong gross margins. For the first quarter of 2008, its gross margin was 40.7% of net sales, up from 40.6% in the same period of 2007.


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