LaCrosse Footwear reports Q1 results
LaCrosse Footwear, Inc., footwear provider for expert work and outdoor users operating under the Danner and LaCrosse brands, has reported consolidated net sales of $18.9 million for the first quarter ended March 26, 2005, compared to $23.7 million in the first quarter of 2004. Sales for the first quarter included $4.3 million from General Services Administration (GSA) delivery orders to the United States Military and $1.7 million from the discontinued PVC boot line. Consolidated net income was $0.3 million compared to $1.1 million in the first quarter of 2004.
"We are pleased with the sales and earnings growth in our core work and outdoor business, continued gross margin improvement and stronger balance sheet in the first quarter," said Joseph P. Schneider, CEO of LaCrosse Footwear. " Our new products underscore LaCrosse's strategic focus on penetrating deeper into targeted occupational and recreational markets and continue to raise the bar on performance, innovation and quality.”
Sales to the work market were $12 million for the first quarter, compared to $17.1 million for the same period in 2004. Work sales in the first quarter of 2004 included the $6 million from GSA and PVC sales. In the first quarter of 2005, work sales grew in a number of targeted product categories, including boots for public safety, general work and firefighting.
Sales to the outdoor market were $6.9 million for the first quarter of 2005, up 4% from $6.6 million for the same period in 2004. While outdoor sales are typically stronger in the second half of the year, the year-over-year growth in the first quarter of 2005 included stronger penetration into various hunting markets.
