10-Q Filing

ROCKY BRANDS, INC. CIK: 895456 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000895456-19-000025`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	rcky-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 98 Income Statement 26 Cash Flow Statement 42 Stockholders Equity 15

Balance Sheet 98 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.41M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.40M	shares	Point-in-time
Common stock Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Common stock Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$41.16M	USD	Point-in-time
Common stock Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$43.34M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$41.23M	USD	Point-in-time
Contract receivables	`ReceivablesNetCurrent`	$817.00K	USD	Point-in-time
Contract receivables	`ReceivablesNetCurrent`	$13.52M	USD	Point-in-time
Contract receivables	`ReceivablesNetCurrent`	$2.60M	USD	Point-in-time
Other receivables	`OtherReceivables`	$331.00K	USD	Point-in-time
Other receivables	`OtherReceivables`	$161.00K	USD	Point-in-time
Other receivables	`OtherReceivables`	$411.00K	USD	Point-in-time
Inventories	`InventoryNet`	$72.82M	USD	Point-in-time
Inventories	`InventoryNet`	$65.15M	USD	Point-in-time
Inventories	`InventoryNet`	$69.91M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$30.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$997.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$348.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.44M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.89M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$131.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.87M	USD	Point-in-time
LEASED ASSETS	`OperatingLeaseRightOfUseAsset`	$1.04M	USD	Point-in-time
PROPERTY, PLANT & EQUIPMENT net	`PropertyPlantAndEquipmentNet`	$23.74M	USD	Point-in-time
PROPERTY, PLANT & EQUIPMENT net	`PropertyPlantAndEquipmentNet`	$23.44M	USD	Point-in-time
PROPERTY, PLANT & EQUIPMENT net	`PropertyPlantAndEquipmentNet`	$23.06M	USD	Point-in-time
IDENTIFIED INTANGIBLES	`IntangibleAssetsNetExcludingGoodwill`	$30.27M	USD	Point-in-time
IDENTIFIED INTANGIBLES	`IntangibleAssetsNetExcludingGoodwill`	$30.26M	USD	Point-in-time
IDENTIFIED INTANGIBLES	`IntangibleAssetsNetExcludingGoodwill`	$30.30M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$262.00K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$148.00K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$190.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$188.10M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$188.41M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$184.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.13M	USD	Point-in-time
Contract with Customer, Liability, Current	`ContractWithCustomerLiabilityCurrent`	$817.00K	USD	Point-in-time
Contract with Customer, Liability, Current	`ContractWithCustomerLiabilityCurrent`	$2.60M	USD	Point-in-time
Contract with Customer, Liability, Current	`ContractWithCustomerLiabilityCurrent`	$13.52M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$1.79M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$3.34M	USD	Point-in-time
Taxes - other	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$638.00K	USD	Point-in-time
Taxes - other	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$556.00K	USD	Point-in-time
Taxes - other	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$94.00K	USD	Point-in-time
Accrued freight	`AccruedLiabilitiesAndOtherLiabilities`	$455.00K	USD	Point-in-time
Accrued freight	`AccruedLiabilitiesAndOtherLiabilities`	$668.00K	USD	Point-in-time
Accrued freight	`AccruedLiabilitiesAndOtherLiabilities`	$712.00K	USD	Point-in-time
Commissions	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$415.00K	USD	Point-in-time
Commissions	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$560.00K	USD	Point-in-time
Commissions	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$494.00K	USD	Point-in-time
Accrued duty	`OtherAccruedLiabilitiesCurrent`	$2.26M	USD	Point-in-time
Accrued duty	`OtherAccruedLiabilitiesCurrent`	$2.12M	USD	Point-in-time
Accrued duty	`OtherAccruedLiabilitiesCurrent`	$2.33M	USD	Point-in-time
Other	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Other	`AccruedLiabilitiesCurrent`	$1.42M	USD	Point-in-time
Other	`AccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.02M	USD	Point-in-time
LONG TERM TAXES PAYABLE	`LongTermTaxesPayable`	$2.29M	USD	Point-in-time
LONG TERM TAXES PAYABLE	`LongTermTaxesPayable`	$169.00K	USD	Point-in-time
LONG TERM TAXES PAYABLE	`LongTermTaxesPayable`	$169.00K	USD	Point-in-time
LONG TERM LEASE	`OperatingLeaseLiabilityNoncurrent`	$517.00K	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$7.78M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$7.73M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$7.78M	USD	Point-in-time
DEFERRED LIABILITIES	`OtherLiabilitiesNoncurrent`	$155.00K	USD	Point-in-time
DEFERRED LIABILITIES	`OtherLiabilitiesNoncurrent`	$121.00K	USD	Point-in-time
DEFERRED LIABILITIES	`OtherLiabilitiesNoncurrent`	$121.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$33.65M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$44.27M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$33.09M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding December 31, 2017 - 7,398,654 and December 31, 2016 - 7,421,455	`CommonStockValue`	$69.27M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding December 31, 2017 - 7,398,654 and December 31, 2016 - 7,421,455	`CommonStockValue`	$68.39M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding December 31, 2017 - 7,398,654 and December 31, 2016 - 7,421,455	`CommonStockValue`	$68.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$85.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$83.19M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$74.56M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$151.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$143.83M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$141.09M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$154.76M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$184.66M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$188.41M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$188.10M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`Revenues`	$65.93M	USD	1 Quarter
NET SALES	`Revenues`	$61.39M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsAndServicesSold`	$42.95M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsAndServicesSold`	$40.42M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$22.98M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$20.96M	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$16.74M	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$18.48M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$4.50M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$4.23M	USD	1 Quarter
OTHER INCOME (EXPENSES)	`NonoperatingIncomeExpense`	$-139.00K	USD	1 Quarter
OTHER INCOME (EXPENSES)	`NonoperatingIncomeExpense`	$65.00K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.09M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.56M	USD	1 Quarter
INCOME TAX (BENEFIT) EXPENSE	`IncomeTaxExpenseBenefit`	$838.00K	USD	1 Quarter
INCOME TAX (BENEFIT) EXPENSE	`IncomeTaxExpenseBenefit`	$959.00K	USD	1 Quarter
Net Income (Loss) Attributable to Parent, Total	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Net Income (Loss) Attributable to Parent, Total	`NetIncomeLoss`	$3.60M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.41M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.38M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.43M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.43M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income (Loss)	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$3.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$1.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$1.26M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$299.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$168.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-5.04M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-2.03M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.92M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-471.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.53M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$243.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$113.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.89M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.24M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-583.00K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.38M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.86M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.85M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.42M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.80M	USD	1 Quarter
Proceeds from sales of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.42M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.80M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$157.00K	USD	1 Quarter
Repayments on revolving credit facility	`RepaymentsOfLinesOfCredit`	$2.36M	USD	1 Quarter
Proceeds from stock options	`ProceedsFromStockOptionsExercised`	$294.00K	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividends`	$886.00K	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividends`	$815.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-592.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.01M	USD	1 Quarter
(DECREASE) INCREASE IN CASH AND CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.43M	USD	1 Quarter
(DECREASE) INCREASE IN CASH AND CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.46M	USD	1 Quarter
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.68M	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$17.63M	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.68M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$17.63M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
BALANCE - December 31, 20	`StockholdersEquity`	$151.57M	USD	Point-in-time
BALANCE - December 31, 20	`StockholdersEquity`	$143.83M	USD	Point-in-time
BALANCE - December 31, 20	`StockholdersEquity`	$141.09M	USD	Point-in-time
BALANCE - December 31, 20	`StockholdersEquity`	$154.76M	USD	Point-in-time
Net income (Loss)	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$3.60M	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$815.00K	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$886.00K	USD	1 Quarter
Stock issued and options exercised including related tax benefits	`StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense`	$294.00K	USD	1 Quarter
Stock compensation expense	`StockIssued1`	$168.00K	USD	1 Quarter
Stock compensation expense	`StockIssued1`	$299.00K	USD	1 Quarter
BALANCE - December 31, 20	`StockholdersEquity`	$151.57M	USD	Point-in-time
BALANCE - December 31, 20	`StockholdersEquity`	$143.83M	USD	Point-in-time
BALANCE - December 31, 20	`StockholdersEquity`	$141.09M	USD	Point-in-time
BALANCE - December 31, 20	`StockholdersEquity`	$154.76M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.