ROCKY BRANDS INC (RCKY)

[*MARINE 1*]

Rocky Brands, Inc. Announces Third Quarter Fiscal 2010 Results
Date : 10/21/2010 @ 4:00PM..........RCKY


Rocky Brands, Inc. Announces Third Quarter Fiscal 2010 Results
Rocky Shoes (NASDAQ:RCKY)
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Today : Thursday 21 October 2010
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Rocky Brands, Inc. (Nasdaq: RCKY) today announced financial results for its third quarter ended September 30, 2010.

For the third quarter of 2010, net sales increased 12.3% to $74.8 million versus net sales of $66.6 million in the third quarter of 2009. Net income for the third quarter of 2010 increased $1.9 million to $4.7 million, or $0.63 per diluted share versus net income of $2.8 million, or $0.50 per diluted share a year ago.

Mike Brooks, Chairman and Chief Executive Officer, commented, “During the third quarter we continued to experience positive business trends similar to the first six months of 2010 which allowed us once again deliver improved profitability versus the year ago period. This included higher sales levels in both our wholesales
and military segments, a 40 basis point increase in wholesale gross margin, and better operating expense leverage. We are particularly pleased with our wholesale growth which is being driven by demand for our work footwear. We also recently secured a new credit facility that will further reduce our interest expense approximately $2 million next year and free up capital to expand our business. Looking ahead, we are excited about both our near and long-term growth prospects and we are confident we have the right pieces in place to capitalize on the many opportunities still in front of us.”