Higher revenues at McRae Industries
Manufacturer of work, western and military boots McRae Industries, Inc. has reported consolidated net revenues from continuing operations $68.85 million for fiscal 2006, a 10.3% increase compared with the $62.4 million reported for fiscal 2005. This improvement has been attributed to continued fashion trend demand for western and work boots products, which was partially offset by reduced requirements for military combat boots for the US Government.
Net earnings amounted to $3.39 million compared with $1.57 million. Net earnings for fiscal 2006 totalled $3.39 million versus $3.44 million last year.
Consolidated gross profit from continuing operations climbed to $19.2 million for fiscal 2006 compared with $14.7 million. This was attributed to increased net revenues and a greater proportion of higher margin Western boot products in the overall sales mix.
The company’s military boot unit, which manufactures and distributes military combat boots primarily to the US Government, as well as foreign governments, and selected commercial surplus outlets, posted net revenues of $19.8 million compared with $26.8 million for fiscal 2005. This decline was primarily attributable to reduced military combat boot requirements for the
