The Nelsonville, Ohio, maker of shoes and boots said shipments under the military hot-weather boot order would begin in the fourth quarter. "We are extremely pleased to have received this order to fulfill this contract," CEO Mike Brooks said. "Our ability to manufacture boots for the U.S. Military highlights the strength of our operating platform and underscores our growing position in the marketplace."
Rocky also forecast third-quarter earnings of $1.14 a share on sales of $94 million, far short of the Thomson First Call forecast calling for a profit of $1.34 a share on sales of $100 million.
"Our core outdoor footwear business was negatively impacted during the third quarter, primarily due to warm, dry weather in several of our major markets, as well as weak consumer confidence and a challenging retail environment," Brooks said. "With that said, we are confident about our product offering and merchandising strategy for the Rocky brand and we remain focused on expanding our leadership status in the industry. Importantly, our work, western, and duty footwear categories continued to perform on or above plan."
Rocky expects to earn $3.10 a share for fiscal 2006 on revenue of $313 million to $318 million. Analysts had forecast a profit of $2.78 a share on revenue of $318 million.
Rocky Shoes was halted late Monday after rising 31 cents to $29.04.