RCKY shares fell nearly 43% on Friday after Rocky Brands, Inc. revealed that it expects to report net sales of approximately $57 million for the second quarter versus net sales of $65.5 million in the second quarter of 2005. The company noted that the second quarter of 2005 included approximately $5.8 million of footwear sales to the military compared to zero footwear sales to the military in the second quarter of 2006. The company also expects to report a diluted loss per share of between five cents to ten cents, versus diluted earnings per share of 50 cents last year.
Management did not mention if this result would impact the full year guidance of sales in the range of $287 million to $292 million with which it was previously “comfortable.”
