Rocky Brands, Inc. Announces Follow on Orders of Military Boots
May 27 2010 - 4:00PM
Business Wire
Rocky Brands, Inc. (Nasdaq: RCKY) today announced that it has
received an additional order to produce approximately 45,000 pairs
of insulated boots with an approximate value of $3.2 million under
the $29 million blanket purchase agreement with the General
Services Administration (GSA) that was announced in August 2009.
There is $11.3 million remaining under the $29 million blanket
purchase agreement. Also, the Company has received an additional
order to produce approximately 8,000 pairs of “Hot Weather” boots
with an approximate value of $0.5 million under a contract with the
U.S. Military that was announced in July 2007. Shipment of these
orders is expected to be completed in 2010. All of these boots will
be manufactured in the Company’s factory in Moca, Puerto Rico.
Mike Brooks, Chairman and Chief Executive Officer, stated,
“Expanding sales in our military segment is a key component of our
future growth strategy. These additional orders will contribute to
the achievement of our growth objectives for 2010 while at the same
time help to offset cost increases through better utilization of
our company-operated facility in Puerto Rico. We are optimistic
that our ability to produce high quality boots for this market will
result in further orders from the traditional contract and bid
process as well as through our direct sales efforts.”
The Company is currently in the process of fulfilling the
initial $14.5 million order it received under the $29 million
blanket purchase agreement with the GSA that was announced in
August 2009.
About Rocky Brands,
Inc.
Rocky Brands, Inc. is a leading designer, manufacturer and
marketer of premium quality footwear and apparel marketed under a
portfolio of well recognized brand names including Rocky®, Georgia
Boot®, Durango®, Lehigh®, and the licensed brands Michelin® and
Mossy Oak®.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities and Exchange Act of
1934, as amended, which are intended to be covered by the safe
harbors created thereby. Those statements include, but may not be
limited to, all statements regarding intent, beliefs, expectations,
projections, forecasts, and plans of the Company and its management
and include statements in this press release regarding additional
orders (paragraph 2). These forward-looking statements involve
numerous risks and uncertainties, including, without limitation,
the various risks inherent in the Company’s business as set forth
in periodic reports filed with the Securities and Exchange
Commission, including the Company’s annual report on Form 10-K for
the year ended December 31, 2009 (filed March 2, 2010) and
quarterly report on Form 10-Q for the period ended March 31, 2020
(filed May 3, 2010). One or more of these factors have affected
historical results, and could in the future affect the Company’s
businesses and financial results in future periods and could cause
actual results to differ materially from plans and projections.
Therefore there can be no assurance that the forward-looking
statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the Company, or any
other person should not regard the inclusion of such information as
a representation that the objectives and plans of the Company will
be achieved. All forward-looking statements made in this press
release are based on information presently available to the
management of the Company. The Company assumes no obligation to
update any forward-looking statements.
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