Rocky Brands, Inc. to Broadcast Review of Third Quarter Fiscal 2009 Financial Results over the Internet

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ROCKY BRANDS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Three Months Ended June 30, 2009 Compared to Three Months Ended June 30, 2008 Net sales. Net sales for the three months ended June 30, 2009 were $51.2 million compared to $60.5 million for the same period in 2008. Wholesale sales for the three months ended June 30, 2009 were $37.9 million compared to $42.5 million for the same period in 2008. The $4.6 million decrease in wholesale sales was the result of decreased sales in the majority of our footwear categories and apparel. Retail sales for the three months ended June 30, 2009 were $12.3 million compared to $16.2 million for the same period in 2008. The $3.9 million decrease in retail sales resulted from plant closings and layoffs in the manufacturing sector as the current economic conditions have impacted a significant portion of our retail customer base. In addition, retail sales were negatively impacted by our ongoing transition to more internet driven transactions and the decision to remove a portion of our Lehigh mobile stores from operations which resulted in reductions in SG&A expenses. Military segment sales for the three months ended June 30, 2009, were $0.9 million, compared to $1.8 million in the same period in 2008. Shipments in 2009 were under the $6.4 million contract issued in July 2007. Gross margin. Gross margin for the three months ended June 30, 2009 was $17.7 million, or 34.6% of net sales, compared to $24.4 million, or 40.3% of net sales, in the same period last year. Wholesale gross margin for the three months ended June 30, 2009 was $11.9 million, or 31.3% of net sales, compared to $15.7 million, or 36.9% of net sales, in the same period last year. The 560 basis point decrease is the result of additional sales of closeouts at reduced gross margins, an increase in manufacturing costs, and a decrease in sales price per unit for competitive reasons. Retail gross margin for the thr...
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Q3 2009 Rocky Brands, Inc. Earnings Release - Time Not Supplied

Earnings Announcements for Thursday, October 22CompanySymbolTimeConferenceCall1-800-FLOWERS.COMFLWSBefore Market Open1st SourceSRCEAfter Market Close3M CompanyMMMBefore Market OpenAcacia Research CorporationACTGAfter Market CloseListenAffiliated Computer ServicesACSAfter Market CloseAkeena SolarAKNSBefore Market OpenAker SolutionsAKSO.OL02:00 am ETAlaska Air Group, Inc.ALKBefore Market OpenListenAlexion PharmaceuticalsALXNBefore Market OpenAlign TechnologyALGN4:00 pm ETAmadeus Fire AGAAD.FTime Not SuppliedAmazon.com, Inc.AMZNAfter Market CloseListenAmerican Express CompanyAXPAfter Market CloseListenAmerican River BanksharesAMRBTime Not SuppliedAmSurgAMSG4:00 pm ETListenAssociated Banc-CorpASBC1:00 pm ETAT&TTBefore Market Open...
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Rocky Brands, Inc. Announces Third Quarter Fiscal 2009 Results

Rocky Brands, Inc. and Subsidiaries Condensed Consolidated Balance Sheets           September 30, 2009   December 31, 2008   September 30, 2008 Unaudited   Unaudited ASSETS:   CURRENT ASSETS: Cash and cash equivalents $ 4,002,909 $ 4,311,313 $ 4,332,477 ...
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Rocky Brands, Inc. Q3 2009 Earnings Call Transcript

Rocky Brands, Inc. (RCKY) Q3 2009 Earnings Call October 22, 2009 4:30 pm ET Executives Brendon Frey – IR, ICR Mike Brooks – Chairman &Chief Executive Officer David Sharp – President &Chief Operating Officer Jim McDonald – Chief Financial Officer &Treasurer Analysts Reed Anderson – D. A. Davidson & Co Kevin Kim – Robert W. Baird Bill Gordon – Gordon Capital Presentation Brendon Frey Thank you. Before we begin, please note that today’s discussion including the Q&A period may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Such statements are based on information and assumptions available at this time and are subject to change, risks, and uncertainties, which may cause actual results to differ materially. We assume no obligation to update such statements. For a complete discussion of the risks and uncertainties, please refer to today’s press release and the reports filed with the Securities and Exchange Commission including Rocky’s Form 10-K for the year ended December 31, 2008 And now I’ll turn the conference over to Mr. Mike Brooks, Chairman and Chief Executive Officer of Rocky Brands. Mike Brooks Thank you, and thanks to everyone for joining us this afternoon. With me on today’s call are David Sharp, President and Chief Operating Officer and Jim McDonald, Chief Financial Officer and Treasurer. We are very pleased with our third quarter results, which represent our strongest earnings performance in 12 quarters. Our top line was down 8%, it was the smallest sales decline this year and the majority of the shortfall...
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ROCKY BRANDS, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibi

Item 2.02 Results of Operations and Financial Condition. On October 22, 2009, Rocky Brands, Inc. (the "Company") issued a press release entitled "Rocky Brands, Inc. Announces Third Quarter Fiscal 2009 Results" regarding its consolidated financial results for the quarter ended September 30, 2009. A copy of the Company's press release is furnished as Exhibit 99 to this Form 8-K and is incorporated herein by reference. The information in this Form 8-K and accompanying press release is being furnished under Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information contained or incorporated by reference in this Form 8-K contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, which are intended to be covered by the safe harbors created thereby. Those statements include, but may not be limited to, all statements regarding intent, beliefs, expectations, projections, forecasts, and plans of the Company and its management and include statements in the accompanying press release regarding a higher frequency of reorders and improved profitability (paragraph 3). These forward-looking statements involve numerous risks and uncertainties, including, without limitation, the various risks inherent in the Company's business as set forth in periodic reports filed with the Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2008 (filed March 3, 2009) and the Company's quarterly report on Form 10-Q for the quarters ended March 31, 2009 (file...
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Rocky in black for year after profitable 3Q

Footwear retailer and supplier Rocky Brands Inc. saw its first profitable quarter of the year as it cut costs amid falling sales. The Nelsonville-based company, known for its heavy-duty work and hunting boots, told investors it earned $2.78 million, or 50 cents a share, in the third quarter, up 17 percent from $2.37 million, or 43 cents a share, in the same period a year ago. Revenue fell 8 percent to $66.6 million from $72.5 million. The company said wholesale revenue, its largest segment, nudged down but retail sales fell 25 percent in part because of the company’s move to close some mobile stores selling its Lehigh-brand footwear. Closing some of the Lehigh shops also helped Rocky cut costs as overhead expenses dropped 15 percent to $18.6 million. Lower freight, trade-show and payroll costs also played a role in trimming expenses, the company said. CEO Mike Brooks said Rocky has been working over the past 18 months to chip away at expenses and boost profitability. Despite a dip in sales, the company said it’s seeing signs of stabilization in its wholesale business, which accounts for about 80 percent of revenue. “With inventories at retailers relatively clean, we are optimistic we will continue to benefit from a higher frequency of reorders and we are confident that we can deliver improved profitability year-over-year during the fourth quarter,” Brooks said. Following a money-losing first half, Rocky’s profit in the first nine months plunged 92 percent to $265,341, or 5 cents a share, compared with profit of $3.41 million, or 62 cents a share, through last year’s third quarter. Revenue year-to-date fell 13 percent to $167.8 million from $193.5 million. Rocky (NASDAQ:RCKY) produces and markets footwear under the Rocky Outdoor Gear, Georgia Boot, Durango and Lehigh names along with...
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Rocky Brands downgraded by DA Davidson

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ROCKY BRANDS, INC. Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue66,572  51,189  50,065  66,045  Cost of Revenue41,857  33,471  29,972  41,234  Gross Profit24,716  17,718  20,092  24,811  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative18,577  18,119  19,946  21,598  Non Recurring -   -   -  4,863  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss6,139  (402)146  (1,649)Income from Continuing OperationsTotal Other Income/Expenses Net224  158  (125)(58)Earnings Before Interest And Taxes6,363  (243)22  (1,707)Interest Expense1,955  1,936  1,774  2,217  Income Before Tax4,408  (2,180)(1,752)(3,925)Income Tax Expense1,627  (785)(631)(1,684)Minority Interest -   -   -   -  Net Income From Continuing Ops2,781  (1,395)(1,121)(2,241)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   -   -   -  Ot...
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ROCKY BRANDS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Three Months Ended September 30, 2009 Compared to Three Months Ended September 30, 2008 Net sales. Net sales for the three months ended September 30, 2009 were $66.6 million compared to $72.5 million for the same period in 2008. Wholesale sales for the three months ended September 30, 2009 were $54.5 million compared to $55.6 million for the same period in 2008. The $1.2 million decrease in wholesale sales was the result of decreased sales in our work footwear and apparel categories, partially offset by increases in the Hunting, Western and Duty categories. Retail sales for the three months ended September 30, 2009 were $11.5 million compared to $15.3 million for the same period in 2008. The $3.8 million decrease in retail sales resulted from plant closings and layoffs in the manufacturing sector as the current economic conditions have impacted a significant portion of our retail customer base. In addition, retail sales were negatively impacted by our ongoing transition to more internet driven transactions and the decision to remove a portion of our Lehigh mobile stores from operations which resulted in reductions in SG&A expenses. Military segment sales for the three months ended September 30, 2009, were $0.6 million, compared to $1.6 million in the same period in 2008. Shipments in 2009 were under the $6.4 million contract issued in July 2007and the $29.0 million contract, issued in July 2009. Gross margin. Gross margin for the three months ended September 30, 2009 was $24.7 million, or 37.1% of net sales, compared to $27.1 million, or 37.4% of net sales, in the same period last year. Wholesale gross margin for the three months ended September 30, 2009 was $19.5 million, or 35.7% of net sales, compared to $19.7 million, or 35.4% of net sales, in the same period last year. Retail gross margin for the three months ended September 30, 2009 was $5.2 million, or ...
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