Costs relating to LaCrosse Footwear’s new European subsidiary cut into its profits for its fourth-quarter and year-end earnings results.
The company reported on Monday that its fourth-quarter earnings fell 50 percent to $1.2 million, or 18 cents per diluted share, compared with $2.4 million, or 38 cents, a year ago.
For the full year, the company reported a profit of $6.2 million, or 96 cents, versus $7.3 million, or $1.15, in 2007. According to the company, $2.2 million in expenses related to the company’s European office impacted earnings.
Sales during the fourth quarter increased 7 percent to $35.1 million, from $32.7 million in the year-ago quarter. Full-year sales were $128 million, compared with $118.2 million in 2007.
The company also announced that its board had approved a dividend of 12.5 cents per share of common stock.