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Rocky Brands, Inc. Message Board

  • smaycs4 smaycs4 Jul 23, 2013 4:16 PM Flag

    Blowout quarter +24 cents versus 3 cents last year. Sales + 34%.

    For the second quarter of 2013, net sales increased 33.8% to $59.4 million versus net sales of $44.4 million for the second quarter of 2012. The Company reported net income of $1.8 million, or $0.24 per diluted share, for the second quarter of 2013, versus net income of $0.2 million, or $0.03 per diluted share, for the second quarter of 2012.

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    • Before Q&A, at the end of presentation, the management said that the sales increase at 2nd half is going to match 1st half performance (despite $8 millions sales in Q3 won't be repeated this year). So, the yearly growth is projected to be at 15.8% range. This turns out 2013 sales guidance to be $264.3 millions exceeding the current consensus $250.9 millions by 5.3%. Or AGR increases to 15.8% from 9.9%,

      • 1 Reply to floppy_6
      • In Q&A, the management indicated that margin in 2nd half will be approximately flat to last year 2nd half. Assuming the margin they are referring to is operating margin (not gross margin), then at this rate with similar tax rate, EPS at 2nd half should be proportionally increased to $1.23. Adding 36c achieved in first half, the whole year will make $1.59. This is nearly breaking out 2014 EPS consensus $1.62 and 19 cents above the current $1.4 2013 eps consensus.

        Western grew 47%, Durango grew 68% during the quarter vs. Durango grew 40% in Q1.

    • It was a good quarter. The lethargic presentation and lack of more than 1 analyst asking questions seems a cause for concern to me.

 
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