NELSONVILLE, Ohio--(BUSINESS WIRE)--
Rocky Brands, Inc. (NASDAQ:RCKY) today announced it has received an order to produce “Hot Weather” combat boots for the U.S. Military. The contract is for one year and includes four additional one year options. Under the terms of the agreement, the maximum amount of boots shipped per year cannot exceed approximately $20 million with an expected annual amount of approximately $16 million. The company expects to begin fulfilling the order in the first half of 2017.
Mr. Brooks, said, “We are extremely pleased to receive this additional contract from the U.S. Military as increasing sales in our military segment is a key component of our diversified growth strategy. We recently invested in expanding our Puerto Rico manufacturing facility in order to better capitalize on the growing demand for military footwear.”
The Company is currently in the process of fulfilling the order it received to produce “Temperate Weather” combat boots that was announced in February 2016 and an existing contract to produce “Hot Weather” boots that was announced in February 2013.
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®, Creative Recreation®, and the licensed brand Michelin®.
Safe Harbor Language
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. 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, 2015 (filed March 3, 2016) and quarterly reports on Form 10-Q for the periods ended March 31, 2016 (filed April 29, 2016) and June 30, 2016 (filed July 28, 2016). 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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