Military boot maker McRae Industries Inc has recorded consolidated net revenues of $21.39 million for the first quarter, an eight per cent increase on $19.79m posted in the same period a year ago.

The North Carolina-based company also posted consolidated net earnings of $562,000 for the period, up from $539,000 in the first quarter of fiscal 2003.

The company attributed the increases to continued high demand for military combat boots from the United States Government.