Higher gross margins & sales drive income for LaCrosse
01 May '07
3 min read
LaCrosse Footwear Inc reported results for the first quarter of 2007.
For the first quarter of 2007, LaCrosse reported consolidated net sales of $23.7 million, up 11% from $21.4 million in the first quarter of 2006. Net income was $0.6 million or $0.10 per diluted share in the first quarter of 2007, up 54% from $0.4 million or $0.06 per diluted share in the first quarter of 2006.
Sales to the work market were $15.4 million for the first quarter of 2007, up 13% from $13.6 million for the same period of 2006. Year-over-year growth in work sales reflects continued penetration into a variety of general and specialized work and uniform boot markets, as well as the early success of the Company's new line of high-performance safety apparel.
Sales to the outdoor market were $8.3 million for the first quarter of 2007, up 7% from $7.8 million for the same period of 2006. Year-over-year growth in the outdoor market primarily reflects continued penetration into the hunting and rugged outdoor boot markets.
The Company's gross margin was a record 40.6% of net sales for the first quarter of 2007, up from 39.2% in the same period of 2006, an increase of 140 basis points. The year-over-year gross margin improvement was primarily the result of a price increase at the beginning of the first quarter of 2007 and fewer closeout sales during the quarter.
LaCrosse's total operating expenses were $8.8 million in the first quarter of 2007, down 5% sequentially from $9.2 million in the previous quarter, and up 12% from $7.8 million in the first quarter of 2006. The year-over-year increase primarily reflects the strategic expansion of our product development and sales teams, and costs related to our new Portland distribution center and offices.
marketing@alchempro.com
