US: Sales growth pushes LaCrosse Footwear into profit
Author: just-style.com | 23 April 2010
- Net sales reach $34.2m
- Net income grows to $1.7m
- Strong growth across the group's categories
LaCrosse Footwear has seen its first quarter sales leap 32% driving strong earnings growth for the group in the period.
Net sales reached $34.2m in the first quarter of 2010. Sales to the work market were $26.3m, up 38%.
"The growth in the work market sales reflects very strong demand from various areas of the US government, as well as increasing demand from various niche work markets," the company said.
Sales to the outdoor market were $7.9m, up 15%.
Net income was $1.7m, up from a net loss of $0.7m in the first quarter of 2009.
"We're very pleased with our strong sales and earnings growth in the first quarter of 2010, driven by increased demand across our different channels and markets," said Joseph P. Schneider, president and CEO of LaCrosse Footwear.
"We saw very strong demand from various branches of the US government due to the continued strengthening of our customer relationships throughout the government channel and our strong execution in exceeding their delivery timetables. We also saw much stronger at-once demand from our wholesale channel partners during the first quarter, reflecting the improved consumer spending environment and success of our core products.
"During 2010, we continue to expect quarter-to-quarter fluctuations in the timing of government channel orders. Yet the general trends across our different channels look significantly more positive than a year ago and our new products are being very well received by our customers. In preparation for future growth, we recently announced our plans for a new production facility in Portland that will significantly increase our capacity to efficiently meet growing worldwide demand and extend our great tradition of superior craftsmanship."
A full release on the Q1 figures can be found here
Companies: LaCrosse
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