Rocky Brands reports solid end to 2009
26/02/2010
Outdoor footwear group Rocky Brands has reported a fall in sales for the fourth quarter of 2009, compared to the same quarter in 2008, $61.7 million compared to $66 million. However, the company achieved a profit of $900,000 in 2009 compared to a loss of $2.2 million the year before.
For the full year, the group showed total sales of $229.5 million in 2009 compared to $259.5 million in 2008, but achieved the same full-year profit, $1.2 million in both years.
Chief executive, Mike Brooks, commented: "Throughout 2009 we focused on taking costs out of business and improving the efficiency of the organisation. Our efforts led to fourth-quarter operating results that exceeded expectations and represented a solid ending to the year. Better management of receivables and inventories allowed the company to significantly reduce borrowings on credit facility during the past 12-months and resulted in year-end debt levels down 37%."
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