January 31, 2008
LaCrosse Footwear Inc, a leading provider of branded work and outdoor footwear, reported results for the fourth quarter and full year ended December 31, 2007.
For the fourth quarter of 2007, LaCrosse reported consolidated net sales of $32.7 million, up 3% from $31.7 million in the fourth quarter of 2006. For the full year 2007, consolidated net sales were $118.2 million, up 10% from $107.8 million in 2006.
Net income was $2.4 million or $0.38 per diluted share in the fourth quarter of 2007, up 8% from $2.2 million or $0.36 per diluted share in the fourth quarter of 2006. For the full year 2007, net income was $7.3 million or $1.15 per diluted share, up 15% from $6.3 million or $1.02 per diluted share in 2006.
Sales to the work market were $17.2 million for the fourth quarter of 2007, up 8% from $16.0 million for the same period of 2006. For the full year 2007, sales to the work market were $60.9 million, up 11% from $54.7 million in 2006. For the year, the growth in work market sales reflects continued penetration into a variety of general and specialized work boot markets.
Sales to the outdoor market were $15.4 million for the fourth quarter of 2007, down 2% from $15.7 million for the same period of 2006. During the fourth quarter of 2007, sales of outdoor boots were adversely impacted by unfavorable weather conditions in the first two months of the period. For the full year of 2007, sales to the outdoor market were $57.3 million, up 8% from $53.1 million in 2006. For the year, the growth in outdoor market sales primarily reflects increased penetration into the rugged outdoor boot markets.
LaCrosse Footwear Inc
Source @ Fibre2fashion
