Rocky Brands Q3 sales improve by 17.5 percent

Net sales at Rocky Brands inc., increased 17.5 percent to 147.5 million dollars and by 14.7 percent to 143.9 million dollars on an adjusted basis for the third quarter.

The company’s wholesale segment sales increased 25.8 percent; while retail segment sales increased 7.3 percent.

Income from operations increased 8.9 million dollars or 322.3 percent to 11.6 million dollars and increased 4.8 million dollars or 73.6 percent to 11.3 million dollars on an adjusted basis.

Net income improved to 5.7 million dollars or 77 cents per diluted share and adjusted net income increased 116.7 percent to 5.5 million dollars or 74 cents per diluted share.

“The third quarter was highlighted by strong sales growth compared to the year ago period even as the macroeconomic headwinds pressuring consumer discretionary spending intensified,” said Jason Brooks, the company’s chairman, president and chief executive officer.

Contract manufacturing sales, which include contract military sales and private label programs, were 3.3 million dollars in the third quarter compared to the prior year. The company said decrease in contract manufacturing sales was due to the expiration of certain contracts with the U.S. Military.

Gross margin in the quarter was 51.9 million dollars or 35.2 percent of net sales, compared to 47 million dollars or 37.4 percent of net sales, for the same period last year.