Rocky Brands (RCKY) Misses Q4 EPS by 18c

Rocky Brands (NASDAQ: RCKY) reported Q4 EPS of $0.18, $0.18 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $65.3 million versus the consensus estimate of $70.92 million.

David Sharp, President and Chief Executive Officer, commented, “The fourth quarter was challenging due to tough comparisons combined with warm temperatures and weak retail store traffic that pressured demand across each of our categories. While we are disappointed with our finish to 2015, we believe that our recent performance is not indicative of the strength of our brands and we are cautiously optimistic we can reaccelerate top and bottom line growth in 2016. This coming year we will continue to shift more time and resources to support our largest growth prospects led by the Creative Recreation and Durango brands, both of which operate in much larger and less weather sensitive segments of the market, namely casual and fashion footwear. Importantly, we ended the year with a solid balance sheet highlighted by a 35% decrease in funded debt and lower inventory levels, leaving us well positioned financially to execute our strategic priorities.”

For earnings history and earnings-related data on Rocky Brands (RCKY) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SanDisk upgraded at JPMorgan after investor day; shares climb
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'