BRIEF: Rocky Brands reports loss as sales decline: CEO expects to return to profitability in second half

Mon. July 27, 2009; Posted: 07:39 PM

Jul 27, 2009 (The Columbus Dispatch - McClatchy-Tribune Information Services via COMTEX) -- RCKY | Quote | Chart | News | PowerRating -- Rocky Brands Inc. reported a drop in sales and a net loss for the quarter that ended last month, the footwear and apparel company said today.

Fiscal second quarter sales were $51.2 million, down from $60.5 million in the same quarter last year. The net loss was $1.4 million, compared to a profit of $733,000 last year.

"Our operating performance continued to be affected by the difficult retail environment during the second quarter," said Mike Brooks, chairman and CEO, in a statement. "Sales were down as retailers remained cautious with inventory commitments as the result of decreases in consumer spending and store traffic."

Rocky, based in Nelsonville, has cut operating expenses and is primed to return to profitability during the second half of the 2009, he said.

Rocky's shares closed the trading day at $4, down 10 cents. Earnings were announced after the market closed, and shares continued to slip in after-hours trading.

dgearino@dispatch.com

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