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8-K - FORM 8-K - LACROSSE FOOTWEAR INC | v54550e8vk.htm |
EX-99.2 - EX-99.2 - LACROSSE FOOTWEAR INC | v54550exv99w2.htm |
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contacts:
David Carlson
|
Michael Newman | |
Executive Vice President and
|
Investor Relations | |
Chief Financial Officer
|
StreetConnect, Inc. | |
LaCrosse Footwear, Inc.
|
800-654-3517 | |
503-262-0110 ext. 1331
|
BOOT@stct.com |
LaCrosse Footwear Announces Record Preliminary Results
For the Fourth Quarter
For the Fourth Quarter
Fourth Quarter Sales Up Approximately 21% Year-over-Year;
Stronger Demand in Both Work and Outdoor Markets
Stronger Demand in Both Work and Outdoor Markets
PORTLAND, Ore. January 7, 2010 LaCrosse Footwear, Inc. (Nasdaq: BOOT), a leading provider of
premium, branded work and outdoor footwear for expert users, announced its preliminary, unaudited
results for the quarter ended December 31, 2009.
For the fourth quarter of 2009, the Company expects to report net sales of approximately $42.5
million, up approximately 21% from the same period of 2008. For the full year 2009, net sales are
expected to be approximately $139.2 million, up approximately 9% from 2008.
Sales for the fourth quarter of 2009 increased strongly in both the work and outdoor markets. Work
sales are expected to be approximately $25.2 million for the quarter, up approximately 25% from the
same period in 2008. Outdoor sales are expected to be approximately $17.3 million for the quarter,
up approximately 16% from the same period in 2008.
At the end of 2009, LaCrosse had cash and cash equivalents of approximately $17.7 million, up
approximately 30% from the end of 2008, even after making investments of $2.6 million in its new
Midwest distribution center and paying dividends of $3.2 million to its shareholders during 2009.
Were very pleased to see our strong sales growth in the fourth quarter of 2009 driven by
increasing demand across work and outdoor markets, said Joseph P. Schneider, president and CEO of
LaCrosse Footwear, Inc. We saw stronger at-once demand from new and longstanding retail channels,
reflecting the improving economic environment and the success of our new products during the
quarter. We also continued to see strong demand from various branches of the U.S. military. In
preparation for our presentation next week at the Cowen and Companys Annual Consumer Conference,
we decided to announce these preliminary results.
Cowen and Company Annual Consumer Conference Presentation
LaCrosse plans to present at the Cowen and Company 8th Annual Consumer Conference on Monday,
January 11, 2010 at 8:00 AM Pacific (11:00 AM Eastern). A webcast of the conference call will be
available at www.lacrossefootwearinc.com under Investor Events.
Fourth Quarter and Year End 2009 Conference Call
LaCrosse plans to report its final results for the fourth quarter and the full year of 2009 after
market close on February 1, 2010. On that day, the Company will host a conference call to discuss
its financial results at 2:00 PM Pacific (5:00 PM Eastern). A broadcast of the conference call will
be available at www.lacrossefootwearinc.com under Investor Events or by calling 877-941-2332 or
+1 480-629-9722. A 48-hour replay will be available by calling 800-406-7325 or +1 303 590 3030
(Access Code: 4197911). A replay will also be available on the Companys Web site.
About LaCrosse Footwear, Inc.
LaCrosse Footwear, Inc. is a leading developer and marketer of branded, premium and innovative
footwear for expert work and outdoor users. The Companys trusted Danner® and LaCrosse® brands are
sold to a network of specialty retailers and distributors in the United States, Canada, Europe and
Asia. Work consumers include people in law enforcement, transportation, mining, oil and gas
exploration and extraction, construction, military services and other occupations that require
high-performance and protective footwear as a critical tool for the job. Outdoor consumers
include people active in hunting, hiking and other outdoor recreational activities. For more
information about LaCrosse Footwear products, please visit our Internet websites at
www.lacrossefootwear.com and www.danner.com. For additional investor information, see our corporate
website at www.lacrossefootwearinc.com.
Forward-Looking Statements
All statements, other than statements of historical facts, included in this release, including
without limitation statements concerning the Companys expected results of operations for the
quarter and year ended December 31, 2009, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Risk factors and other uncertainties which may
impact the Companys results of operations include the following:
| The preliminary, unaudited results included in this release are subject to change prior to our final release scheduled on February 1, 2010 | ||
| Uncertainties related to our future sales to various branches of the U.S. military, which may not continue at the current levels | ||
| Stronger at-once demand that we experienced in the fourth quarter of 2009 from new and long-standing retail channels as well as the improving economic environment and the success of our new products during the quarter, may not continue into 2010 |
Forward-looking statements relate to future events and typically address the Companys expected
future business and financial performance. Words such as plan, expect, aim, believe,
project, target, anticipate, intend, estimate, will, should, could and other terms
of similar meaning, typically identify such forward-looking statements. The Company assumes no
obligation to update or revise any forward-looking statements to reflect the occurrence or
non-occurrence of future events or circumstances.
Forward-looking statements are based on certain assumptions and expectations of future events and
trends that are subject to risks and uncertainties. Actual future results and trends may differ
materially from historical results or those reflected in any such forward-looking statements
depending on a variety of factors, including without limitation, economic, competitive and
governmental factors outside of our control. For more information concerning these factors and
other risks and uncertainties that could materially affect our results of operations, please refer
to Part I, Item 1ARisk Factors, of our 2008 Annual Report on Form 10-K, as supplemented or amended
in our 2009 quarterly reports on Form 10-Q, which information is incorporated herein by reference.
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