Rocky Brands(US:RCKY)2026-02-24 21:12Financial Performance - Fourth quarter net sales increased 9.1% to $139.7 million compared to $128.1 million in the fourth quarter of 2024[3] - Full year 2025 net sales increased 6.2% to $482.0 million compared with $453.8 million in 2024[11] - Net sales for the year ended December 31, 2025, increased to $481.976 million, up 6.8% from $453.772 million in 2024[28] Retail Segment Performance - Retail segment sales for the fourth quarter increased 30.8% to $57.0 million compared to $43.6 million for the same period last year[3] Profitability - Net income for the fourth quarter increased 35.7% to $6.5 million, or $0.86 per diluted share, compared to $4.8 million, or $0.64 per diluted share, in the fourth quarter of 2024[10] - Net income for the year ended December 31, 2025, was $22.274 million, a significant increase of 95.5% compared to $11.387 million in 2024[28] - Adjusted net income for the fourth quarter was $7.2 million, or $0.94 per diluted share, compared to $8.9 million, or $1.19 per diluted share in the year-ago quarter[10] - Adjusted net income for the year ended December 31, 2025, was $24.542 million, compared to $18.973 million in 2024, reflecting a 29.0% increase[30] Margins - Gross margin for the fourth quarter was 41.3% of net sales, a slight decrease from 41.5% in the year-ago quarter[4] - Gross margin for the year ended December 31, 2025, improved to $197.290 million, representing a 10.2% increase from $179.010 million in 2024[28] Operating Expenses - Operating expenses for the fourth quarter were $48.1 million, or 34.5% of net sales, compared to $44.7 million, or 34.9% of net sales, for the same period a year ago[5] - Operating expenses for the year ended December 31, 2025, were $160.103 million, an increase of 8.2% from $147.944 million in 2024[28] Balance Sheet - Total current assets as of December 31, 2025, rose to $270.716 million, an increase of 9.9% from $246.439 million in 2024[26] - Total liabilities as of December 31, 2025, were $225.400 million, slightly up from $225.076 million in 2024[26] - The total shareholders' equity as of December 31, 2025, increased to $252.088 million, up from $232.224 million in 2024, representing an increase of 8.6%[26] - The company reported an increase in trade receivables to $77.055 million as of December 31, 2025, compared to $71.983 million in 2024, reflecting a 7.4% increase[26] Debt and Shareholder Actions - Total debt on December 31, 2025, was $122.6 million, down 4.7% from $128.7 million on December 31, 2024[18] - The Board of Directors authorized a new share repurchase program of up to $7.5 million of the Company's outstanding common stock[20] Future Outlook - The Company is well positioned to capitalize on growth opportunities in 2026 and beyond, driven by strong brand performance and innovative product offerings[2]