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Rocky Brands Q3 profit falls 31.4% YOY

Rocky Brands Inc. said its third-quarter normalized net income came to 15 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS decreased 30.7% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.1 million, a decrease of 31.4% from $1.7 million in the prior-year period.

The normalized profit margin fell to 1.6% from 2.4% in the year-earlier period.

Total revenue climbed year over year to $73.2 million from $70.0 million, and total operating expenses increased 6.1% year over year to $71.2 million from $67.1 million.

Reported net income decreased 75.2% from the prior-year period to $450,270, or 6 cents per share, from $1.8 million, or 24 cents per share.