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Rocky Brands profit beats consensus by 49.7% in Q1

Rocky Brands Inc. said its first-quarter normalized net income amounted to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS rose 94.8% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.4 million, a gain of 95.5% from $695,490 in the prior-year period.

The normalized profit margin rose to 2.1% from 1.1% in the year-earlier period.

Total revenue totaled $65.5 million, compared with $65.8 million in the year-earlier period, and total operating expenses fell year over year to $63.0 million from $64.4 million.

Reported net income rose 90.7% on an annual basis to $1.4 million, or 19 cents per share, from $754,040, or 10 cents per share.