Rocky Brands Net Jumps on Better Margins, Lower Taxes
Net income surged 82% to $2,649,151 from $1,459,183 in the second quarter boosted by 250 basis points of gross margin expansion despite revenues that declined slightly to $58,205,840 from $58,454,954. Wholesale sales increased 7% to $39.8 million and retail sales also gained 7% to $11.7 million in the quarter, while lower-margin military segment sales dropped 35% to $6.7 million. ... Log in to view full article.