Rocky Brands, Inc. Announces New Footwear Order from the U.S. Military
By Business Wire News
By Business Wire News
Rocky Brands, Inc. (Nasdaq:RCKY) today announced it has received an order to fulfill a contract to the U.S. Military to produce “Temperate Weather” combat boots. The contract includes a minimum purchase amount of $13.0 million with the entire order projected to ship between March and October 2016.
David Sharp, President and Chief Executive Officer, commented, “We are very pleased to have been awarded this contract to produce high quality boots for the U.S. Military. Along with our existing contract, we have approximately $28 million in military orders scheduled for delivery in 2016, a 60% increase over 2015 levels. Military segment sales allow us to better utilize our company-operated manufacturing facility in Puerto Rico and help reduce the impact on our business from unfavorable weather like we experienced during the second half of 2015, particularly in the fourth quarter.”
The Company also announced its participation in the 2016 ICR Conference at the JW Marriott Orlando Grande Lakes in Orlando, Florida. Management is scheduled to present on Tuesday, January 12, 2016 at 11:30 a.m. Eastern Time. The presentation will be simultaneously broadcast on the Internet and will be available at www.rockybrands.com.
About Rocky Brands, Inc.
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky®, Georgia Boot®, Durango®, Lehigh®, Creative Recreation®, and the licensed brand Michelin®.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Those statements include, but may not be limited to, all statements regarding intent, beliefs, expectations, projections, forecasts, and plans of the Company and its management. These forward-looking statements involve numerous risks and uncertainties, including, without limitation, the various risks inherent in the Company’s business as set forth in periodic reports filed with the Securities and Exchange Commission, including the Company’s annual report on Form 10-K for the year ended December 31, 2014 (filed February 27, 2015) and quarterly reports on Form 10-Q for the quarters ended March 31, 2015 (filed April 30, 2015), June 30, 2015 (filed July 29, 2015) and September 30, 2015 (filed October 27, 2015). One or more of these factors have affected historical results, and could in the future affect the Company’s businesses and financial results in future periods and could cause actual results to differ materially from plans and projections. Therefore there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the Company, or any other person should not regard the inclusion of such information as a representation that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.
Rocky Brands, Inc.
Jim McDonald, 740-753-1951
Chief Financial Officer
Brendon Frey, 203-682-8200