10-Q Filing

ROCKY BRANDS, INC. CIK: 895456 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-115026`
Period End Date	20160630
Filing Date	20160728
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	rcky-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 60 Cash Flow Statement 47

Balance Sheet 91 line items

Line Item	Tag	Value	Unit	Period
Shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.53M	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	7.56M	shares	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	7.57M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	7.48M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Trade receivables net	`AccountsReceivableNetCurrent`	$42.19M	USD	Point-in-time
Trade receivables net	`AccountsReceivableNetCurrent`	$58.07M	USD	Point-in-time
Trade receivables net	`AccountsReceivableNetCurrent`	$44.55M	USD	Point-in-time
Other receivables	`OtherReceivables`	$605.02K	USD	Point-in-time
Other receivables	`OtherReceivables`	$587.78K	USD	Point-in-time
Other receivables	`OtherReceivables`	$583.48K	USD	Point-in-time
Inventories	`InventoryNet`	$86.48M	USD	Point-in-time
Inventories	`InventoryNet`	$87.56M	USD	Point-in-time
Inventories	`InventoryNet`	$76.99M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$128.70K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.18M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$56.54K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.29M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.03M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.89M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.53M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$138.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$153.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$129.22M	USD	Point-in-time
FIXED ASSETS net	`PropertyPlantAndEquipmentNet`	$25.26M	USD	Point-in-time
FIXED ASSETS net	`PropertyPlantAndEquipmentNet`	$27.84M	USD	Point-in-time
FIXED ASSETS net	`PropertyPlantAndEquipmentNet`	$27.90M	USD	Point-in-time
IDENTIFIED INTANGIBLES	`IntangibleAssetsNetExcludingGoodwill`	$36.62M	USD	Point-in-time
IDENTIFIED INTANGIBLES	`IntangibleAssetsNetExcludingGoodwill`	$36.55M	USD	Point-in-time
IDENTIFIED INTANGIBLES	`IntangibleAssetsNetExcludingGoodwill`	$36.48M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$269.62K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$245.93K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$258.81K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$203.52M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$215.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$193.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.89M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$442.26K	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$1.49M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$1.50M	USD	Point-in-time
Taxes - other	`AccruedIncomeTaxesCurrent`	$533.22K	USD	Point-in-time
Taxes - other	`AccruedIncomeTaxesCurrent`	$521.33K	USD	Point-in-time
Taxes - other	`AccruedIncomeTaxesCurrent`	$622.41K	USD	Point-in-time
Accrued freight	`OtherAccruedLiabilitiesCurrent`	$500.11K	USD	Point-in-time
Accrued freight	`OtherAccruedLiabilitiesCurrent`	$427.41K	USD	Point-in-time
Accrued freight	`OtherAccruedLiabilitiesCurrent`	$517.89K	USD	Point-in-time
Commissions	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$420.63K	USD	Point-in-time
Commissions	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$555.78K	USD	Point-in-time
Commissions	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$378.19K	USD	Point-in-time
Accrued duty	`OtherAccruedLiabilitiesCurrentAndNoncurrent`	$2.30M	USD	Point-in-time
Accrued duty	`OtherAccruedLiabilitiesCurrentAndNoncurrent`	$2.61M	USD	Point-in-time
Accrued duty	`OtherAccruedLiabilitiesCurrentAndNoncurrent`	$2.69M	USD	Point-in-time
Other	`AccruedLiabilitiesCurrent`	$1.55M	USD	Point-in-time
Other	`AccruedLiabilitiesCurrent`	$1.35M	USD	Point-in-time
Other	`AccruedLiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.55M	USD	Point-in-time
LONG TERM DEBT	`LongTermDebtNoncurrent`	$23.70M	USD	Point-in-time
LONG TERM DEBT	`LongTermDebtNoncurrent`	$35.59M	USD	Point-in-time
LONG TERM DEBT	`LongTermDebtNoncurrent`	$23.50M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$13.00M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$13.00M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$12.93M	USD	Point-in-time
DEFERRED LIABILITIES	`DeferredCompensationLiabilityClassifiedNoncurrent`	$295.68K	USD	Point-in-time
DEFERRED LIABILITIES	`DeferredCompensationLiabilityClassifiedNoncurrent`	$389.21K	USD	Point-in-time
DEFERRED LIABILITIES	`DeferredCompensationLiabilityClassifiedNoncurrent`	$227.34K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$75.46M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$66.00M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$51.74M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding June 30, 2016 - 7,481,022; December 31, 2015 - 7,567,271 and June 30, 2015 - 7,562,069	`CommonStockValue`	$69.89M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding June 30, 2016 - 7,481,022; December 31, 2015 - 7,567,271 and June 30, 2015 - 7,562,069	`CommonStockValue`	$70.67M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding June 30, 2016 - 7,481,022; December 31, 2015 - 7,567,271 and June 30, 2015 - 7,562,069	`CommonStockValue`	$70.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$69.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$71.24M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$140.38M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$137.52M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$193.87M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$215.85M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$203.52M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$120.09M	USD	2 Qtrs
NET SALES	`SalesRevenueNet`	$134.03M	USD	2 Qtrs
NET SALES	`SalesRevenueNet`	$62.56M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$68.58M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$89.41M	USD	2 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$84.92M	USD	2 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$46.30M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$45.93M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$22.65M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$35.17M	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$44.62M	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$16.26M	USD	1 Quarter
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$19.40M	USD	1 Quarter
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$18.81M	USD	1 Quarter
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$37.94M	USD	2 Qtrs
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$38.96M	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.54M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.77M	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$5.66M	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$3.25M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-278.19K	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$-142.22K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-341.26K	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$-176.19K	USD	1 Quarter
Other net	`OtherNonoperatingIncomeExpense`	$86.75K	USD	2 Qtrs
Other net	`OtherNonoperatingIncomeExpense`	$-58.82K	USD	2 Qtrs
Other net	`OtherNonoperatingIncomeExpense`	$19.22K	USD	1 Quarter
Other net	`OtherNonoperatingIncomeExpense`	$4.52K	USD	1 Quarter
Total other - net	`OtherNonoperatingExpense`	$122.99K	USD	1 Quarter
Total other - net	`OtherNonoperatingExpense`	$171.66K	USD	1 Quarter
Total other - net	`OtherNonoperatingExpense`	$400.08K	USD	2 Qtrs
Total other - net	`OtherNonoperatingExpense`	$191.44K	USD	2 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.96M	USD	2 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.67M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.08M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.26M	USD	2 Qtrs
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$1.08M	USD	1 Quarter
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$-1.01M	USD	2 Qtrs
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$-908.00K	USD	1 Quarter
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$1.84M	USD	2 Qtrs
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$3.42M	USD	2 Qtrs
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-1.76M	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$2.00M	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-1.95M	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.45	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.26	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.26	USD	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.56M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.53M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.56M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.56M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.57M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.53M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.56M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.58M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$3.42M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.95M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$3.81M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$3.59M	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$33.61K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$197.96K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$244.22K	USD	2 Qtrs
Receivables	`IncreaseDecreaseInReceivables`	$2.36M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInReceivables`	$-2.39M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.24M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-10.56M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.41M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-175.74K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$12.88K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$29.87K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.42M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.11M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.06M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.68M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.48M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.64M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.31M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.50M	USD	2 Qtrs
Investment in trademarks and patents	`PaymentsToAcquireIntangibleAssets`	$1.18K	USD	2 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$22.27K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.48M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.31M	USD	2 Qtrs
Proceeds from revolving credit facility	`ProceedsFromBankDebt`	$36.41M	USD	2 Qtrs
Proceeds from revolving credit facility	`ProceedsFromBankDebt`	$40.20M	USD	2 Qtrs
Repayments of revolving credit facility	`RepaymentsOfLongTermDebt`	$37.08M	USD	2 Qtrs
Repayments of revolving credit facility	`RepaymentsOfLongTermDebt`	$40.39M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$8.74K	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.24M	USD	2 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.59M	USD	2 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.66M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.09M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.26M	USD	2 Qtrs
DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-936.56K	USD	2 Qtrs
DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-89.76K	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.53M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.53M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time

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