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Rocky Brands swings to loss in Q2

Rocky Brands Inc. said its normalized net income for the second quarter was a loss of 22 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

The per-share result swung to a loss from the prior-year profit of 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.7 million, compared with income of $1.9 million in the year-earlier period.

The normalized profit margin dropped to negative 2.7% from 2.8% in the year-earlier period.

Total revenue declined 8.8% year over year to $62.6 million from $68.6 million, and total operating expenses totaled $65.1 million, compared with $65.3 million in the year-earlier period.

Reported net income totaled a loss of $1.7 million, or a loss of 23 cents per share, compared to income of $2.0 million, or 26 cents per share, in the prior-year period.