Rocky Shoes & Boots, Inc. has announced record financial results for the fourth quarter and fiscal year ended December 31, 2004.

For the three months ended December 31, 2004, net sales increased 12.6% to a record $32.9 million compared with $29.2 million for the corresponding period a year ago. Net income rose 4.2% to a record $2.2 million versus net income of $2.1 million last year. The fourth quarter results benefited from shipments of $5.7 million of boots produced for delivery to the US military versus $0.4 million for the corresponding period last year. Gross profit decreased to $9.3 million, or 28.2% of sales, from $9.5 million or 32.5% of sales, for the same period last year, due to the $5.3 million of increased shipments to the US military, which were sold at lower gross margins than branded products.

For the full year ended December 31, 2004, net sales increased 24.6% to a record $132.2 million compared to net sales of $106.2 million for the year ended December 31, 2003. This was primarily a result of an increase in branded sales of $9.0 million or 8.7% and shipments of $18.5 million of boots produced for delivery to the US military versus $0.4 million for the corresponding period last year. Net income rose 42.3% to $8.6 million versus net income of $6.0 million a year ago. Gross profit increased to $38.7 million, or 29.2% of sales, from $32.8 million or 30.9% of sales, for the same period last year, primarily due to the $18.1 million of increased shipments to the US military in 2004. 

Rocky Shoes & Boots, Inc. produces outdoor, occupational and casual footwear as well as branded apparel and accessories. In fiscal 2005 it expects to report net sales in the range of $300 to $305 million compared to its previous guidance of $280 to $285 million.

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