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Rocky Brands profit misses consensus by 59.2% in Q4

Rocky Brands Inc. said its normalized net income for the fourth quarter came to 14 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS declined 73.8% year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.1 million, a decline of 73.7% from $4.2 million in the prior-year period.

The normalized profit margin fell to 1.7% from 5.3% in the year-earlier period.

Total revenue fell 17.3% year over year to $65.3 million from $78.9 million, and total operating expenses fell 12.0% year over year to $63.3 million from $71.9 million.

Reported net income declined 69.4% from the prior-year period to $1.4 million, or 18 cents per share, from $4.5 million, or 59 cents per share.

For the year, the company's normalized net income totaled 80 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.04.

EPS declined 34.5% from $1.22 in the prior year.

Normalized net income was $6.1 million, a fall of 34.3% from $9.2 million in the prior year.

Full-year total revenue decreased 5.9% year over year to $269.3 million from $286.2 million, and total operating expenses fell on an annual basis to $258.8 million from $270.5 million.

The company said reported net income fell 32.8% on an annual basis to $6.6 million, or 87 cents per share, in the full year, from $9.8 million, or $1.30 per share.