Rocky Brands reported a first-quarter net income of $0.9 million, up from $0.7 million in the first quarter of 2012. The brand names of the Ohio-based firm include Rocky, Georgia Boot, Durango and Lehigh as well as the licensed Michelin and Mossy Oak brands. Rocky Brands also supplies footwear to the U. S. military. Net sales for the first quarter were $53.7 million, rising marginally from $53.3 million in the first quarter last year. Sales continued to be driven by Durango, with the brand's Western and lifestyle collections up collectively by 40 percent. Wholesale revenues slipped to $42.0 million from $42.4 million in 2012. Retail sales inched up to $10.8 million from $10.5 million, driven by a significant gain in e-commerce. Military sales more than doubled to $0.9 million, compared with $0.4 million a year ago. The gross margin improved by one percentage point to 34.8 percent of sales, thanks to improved manufacturing efficiencies. Inventories increased by 6.5 percent to $68.3 million at March 31, 2013, representing 2.8 percent of net sales.
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