LaCrosse Footwear profit surges on higher sales

(AP) — Bootmaker LaCrosse Footwear Inc. said Monday that its fourth-quarter profit climbed 96 percent, partially due to an increase in demand for its work and outdoor shoes.

LaCrosse Footwear makes a variety of boots for law enforcement, construction and military personnel. It also sells hunting boots and other outdoor footwear.

The company earned $2.3 million, or 36 cents per diluted share, in the three months that ended Dec. 31. That compares with a profit of $1.2 million, or 18 cents, a year earlier.

Revenue rose 21 percent to $42.5 million from $35.1 million during the same time last year.

Analysts surveyed by Thomson Reuters expected LaCrosse Footwear to earn 36 cents per share.

For the full year, LaCrosse Footwear earned $5.5 million, or 86 cents per share. That's down about 10 percent from last year's profit of $6.2 million, or 96 cents per share.

Full-year sales rose 9 percent to $139.2 million, up from $127.9 million in 2008.

The company also issued a special cash dividend of $1 per share, along with a quarterly dividend of 12.5 cents per share. The dividends will be paid on March 18, 2010, to shareholders of record on Feb. 22, 2010.

Company shares were unchanged in after-hours trading. Shares rose 41 cents, or 3 percent, to close at $13.99 Monday.