Interviews
Rocky Shoes & Boots 'Hot Weather' boots for US Military
18 Oct '05
3 min read
Western footwear marketer Rocky Shoes & Boots Inc announced it has received an order to fulfill a contract to the US Military to produce "Hot Weather" boots for approximately $30.0 million. Shipment of the boots is expected to begin in the fourth quarter of fiscal 2005 with an estimated completion date of December 2006.
Mike Brooks, Chairman and Chief Executive Officer stated that they are extremely pleased to have received this order to fulfill this contract. Their ability to manufacture boots for the US Military highlights the strength of their operating platform and underscores their growing position in the marketplace.
The Company also reported preliminary results for the third quarter ended September 30, 2005. Based on current, un-audited financial results, Rocky expects to report net sales of approximately $94 million and diluted earnings per share between $1.13 and $1.15. This compares to earnings per share of $0.98 reported in the third quarter of fiscal 2004.
Mike Brooks further commented that their core outdoor footwear business was negatively impacted during the third quarter, primarily due to warm, dry weather in several of their major markets, as well as weak consumer confidence and a challenging retail environment.
The Company also introduced preliminary guidance for fiscal 2006. Rocky currently anticipates its fiscal 2006 revenues will be in the range of $313 million to $318 million, including approximately $26 million related to the order to fulfill a contract to the U.S. Military. For fiscal 2006, the Company currently expects diluted earnings per share will be in the range of $3.05 to $3.15.
Mike Brooks, Chairman and Chief Executive Officer stated that they are extremely pleased to have received this order to fulfill this contract. Their ability to manufacture boots for the US Military highlights the strength of their operating platform and underscores their growing position in the marketplace.
The Company also reported preliminary results for the third quarter ended September 30, 2005. Based on current, un-audited financial results, Rocky expects to report net sales of approximately $94 million and diluted earnings per share between $1.13 and $1.15. This compares to earnings per share of $0.98 reported in the third quarter of fiscal 2004.
Mike Brooks further commented that their core outdoor footwear business was negatively impacted during the third quarter, primarily due to warm, dry weather in several of their major markets, as well as weak consumer confidence and a challenging retail environment.
The Company also introduced preliminary guidance for fiscal 2006. Rocky currently anticipates its fiscal 2006 revenues will be in the range of $313 million to $318 million, including approximately $26 million related to the order to fulfill a contract to the U.S. Military. For fiscal 2006, the Company currently expects diluted earnings per share will be in the range of $3.05 to $3.15.
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