Second Quarter Results Net sales for the second quarter increased 139 percent to $65.5 million compared to $27.4 million a year ago. The second quarter results reflect the acquisition of EJ Footwear, which contributed $38.0 million in revenue during the three month period ended June 30, 2005.
Gross profit in the second quarter of 2005 increased to $25.7 million, or 39.3 percent of sales, from $7.8 million or 28.3 percent of sales, for the same period last year. The 1100 basis point increase was primarily due to sales of EJ Footwear product, which carry a higher gross margin than Rocky products.
Selling, general and administrative (SG&A) expenses were $19.5 million, or 29.7 percent of sales for the second quarter of 2005 compared to $5.4 million, or 19.7 percent of sales, a year ago. The increase was primarily a result of higher SG&A associated with the EJ Footwear business.
Income from operations increased to $6.2 million or 9.5 percent of net sales for the period from $2.4 million or 8.7 percent of net sales in the prior year.
Six-Month Results Net sales for the six months ended June 30, 2005 increased 158 percent to $127 million compared to $49.3 million a year ago. This was primarily a result of the EJ Footwear acquisition, which contributed $77.9 million in revenue during the period.
Gross profit increased to $49.9 million, or 39.3 percent of sales, from $13.4 million or 27.2 percent of sales, forthe same period last year. The 1210 basis point increase was primarily due to sales of EJ Footwear product which carry a higher gross margin than Rocky products.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
