LaCrosse总裁兼首席执行官Joseph P. SchnEIDER表示，“对于08年第二个季度的收入我们感到很满意。我们的长远策略就是多样化和加强销售渠道。为了发展我们的国际业务和长远发展，我们成立了欧洲销售办事处。此外，我们为了改善经营效率，提高交货速度和更好地为顾客服务，我们计划在美国西部建立一个批发设施。同时，我们还提高我们的毛利率和利润率、更好地管理我们的库存、利用我们的营运开支、使经营和支付股息的现金稳定地流动、继续引进新品和投资发展我们的业务。”
原文：LaCrosse Reports 11% Decline in Q2 Outdoor Sales
LaCrosse Footwear, Inc. said its net income rose 47% in the second quarter on a 12% increase in consolidated net sales, which rose to $27.8 million from $24.9 million in the second quarter of 2007.
For the first half of 2008, consolidated net sales were $52.5 million, up 8% from $48.6 million in the same period of 2007.
However, the sales growth came from the work and military markets, rather than the outdoor market, where sales dropped.
Net income was $1.4 million, or 22 cents per diluted share in the second quarter of 2008, up 47% from $1.0 million or 15 cents per diluted share in the second quarter of 2007. For the first half of 2008, net income was $2.2 million or 35 cents per diluted share, up 40% from $1.6 million or 25 cents per diluted share for the same period in 2007.
Sales to the outdoor market were $10.5 million for the second quarter of 2008, down 11% from $11.8 million for the same period of 2007. For the first half of 2008, sales to the outdoor market were $17.3 million, down 13.5% compared to $20.0 million for the same period of 2007.
The company believes the decline in overall outdoor sales was primarily due to the cautious retail environment that continues to impact consumer spending in North America. However, LaCrosse believes it is well positioned to capture at-once demand when retail spending improves.
Sales to the work market were $17.4 million for the second quarter of 2008, up 32% from $13.2 million for the same period of 2007. For the first half of 2008, sales to the work market were $35.2 million, up 23% from $28.6 million for the same period of 2007. The growth in work market sales reflects shipments related to previously announced military orders and continued penetration into a variety of targeted, niche work boot markets. During the second quarter of 2008, the company shipped approximately $1.8 million of orders to the United States Marine Corps and the U.S. Army.
The company strengthened its year-over-year gross margins. For the second quarter of 2008, its gross margin was 40.4% of net sales, up 120 bASIs points from 39.2% in the same period of 2007, reflecting price increases in recent periods and reductions in sales returns, discounts and alLOWAnces.
LaCrosse's total operating expenses were $8.9 million, or 32% of net sales, in the second quarter of 2008, compared to $8.3 million, or 33% of net sales, in the second quarter of 2007. The company continued to grow sales faster than operating expenses, while increasing its investments in its sales and product development activities. In addition, LaCrosse's inventory decreased 3% at the end of the second quarter of 2008 compared to the end of the same period in 2007, reflecting improved inventory management.
During the quarter, LaCrosse paid a quarterly cash dividend of twelve and one-half cents ($0.125) per share of common stock, totaling $0.8 million. LaCrosse ended the second quarter of 2008 with cash and cash equivalents of $13.3 million, up from $10.3 million at the end of the previous quarter.
"We are pleased with our results for the second quarter, despite continuing chAllenges in the retail environment," said Joseph P. Schneider, president and CEO of LaCrosse Footwear, Inc. "The growth in our work business continued to be driven by shipments to various branches of the United States military and niche work markets. During the second quarter, we announced an additional $3 million delivery order related to our Mountain Cold Weather Boot contract with the United States Marine Corps, which we expect to ship in the second half 2008. Our sUCCess in this channel reflects the military's increased demand for our expert-grade boots, as well as our sustained efforts to work closely with our customers and gain a rich understanding of their specific needs under tough combat conditions."
"In line with our long-term strategy to diversify and strengthen our sales channels, today we announced the establishment of a new European sales office in order to expand our international business where we see significant opportunities for future growth. In addition, we intend to build a new world-class distribution facility in the Midwest to improve operating efficiencies, increase speed of delivery and better serve our customers. At the same time, we have continued to improve our gross margin and profitability, better manage our inventories, leverage our operating expenses, generate steady cash flow from operations and pay dividends, while continuing to introduce exciting new products and invest in groWING our business."