Rocky Brands, Inc. Receives Contracts for $7.2 Million from U.S. Military
NELSONVILLE, Ohio--(BUSINESS WIRE)--
Rocky Brands, Inc. (NASDAQ: RCKY) announced today that it has received a $6.0 million extension to an existing contract in addition to a new $1.2 million contract from the U.S. Military.
The $6.0 million contract is an extension of a $6.4 million contract awarded to Rocky Brands in July 2007 for Army Combat "Hot Weather" boots. Shipment of the boots is expected to begin in early 2009 after the initial contract has been completed.
The $1.2 million contract is for Rocky's S2V tactical assault footwear developed specifically for U.S. Military Special Forces. These boots feature an outsole designed for foot stabilization and to reduce ankle rollover in sandy and rocky conditions. In addition, they are treated for flame resistance and have SuperFabric instep panels that prevent rope burn from rappelling and other military exercises. The first order for $500,000 is expected to be delivered in fourth quarter 2008.
"Rocky is a proud supporter of the men and women serving our country and we are pleased to continue our relationship with the United States Military by providing U.S.-made footwear that is built to perform at the highest levels," said Mike Brooks, Rocky Brands chairman and chief executive officer.
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 Outdoor Gear(R), Georgia Boot(R), Durango(R), Lehigh(R), and the licensed brands Dickies(R), Zumfoot(R) and Michelin(R).
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 shipment and delivery (paragraphs 2 and 3), which are subject to future purchase orders. These forward-looking statements involve numerous risks and uncertainties, including, without limitation, modification or cancellation of the contracts by the U.S. Military and 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, 2007 (filed March 6, 2008) and the Company's quarterly report on Form 10-Q for the quarter ended March 31, 2008 (filed May 1, 2008). 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.
Source: Rocky Brands, Inc.
Released July 17, 2008
