Sales, profits jump at LaCrosse
Sales and profits increased significantly in the first quarter at LaCrosse Footwear Inc.
The Portland-based boot maker (NASDAQ: BOOT) earned $1.6 million, or 25 cents per share, in the quarter ended March 27, on $34.2 million in sales, up from a loss of $692,000, or a loss of 11 cents per share, on sales of $25.9 million in the same quarter last year.
The company easily beat analyst expectations. Analysts polled by Thomson Financial Network expected a loss of 1 cent per share and sales of $28.7 million.
LaCrosse credited the strong quarter to robust demand from the U.S. government and niche markets.
As previously reported, it plans to open a new factory in Portland to keep up with demand.
Results were released after the market closed. Shares close down less than 1 percent at $15.27 in Thursday trading. They have a 52-week range between $7.42 and $17.42.