Net income quintupled to $2,234,762 from $445,629 in the third quarter despite 12% lower sales at $64,675,082 vs. $73,218,247 as gross margins expanded 320 basis points to 30.2%. $1.2 million of the bottom line improvement was a reorganizational charge in 2016 that did not recur, but RCKY also saved $1.7 million in SG&A this year from workforce reductions. Retail sales gained 8% to $11.1 million but military segment sales were down 25% to $7.6 million as ... Log in to view full article.