Continuing retail woes resulted in a net loss for LaCrosse Footwear Inc. in the first quarter.
The Portland, Ore.-based boot manufacturer reported a $700,000 net loss, or 11 cents a diluted share, versus a profit of $800,000, or 12 cents, in the first quarter last year. The quarterly loss is LaCrosse’s first in five years.
Revenues for the company were up 5 percent to $25.9 million for the first quarter, compared with net sales of $24.7 million during the year-ago period. LaCrosse’s sales performance was led by the work market, up 6 percent to $19 million, while the outdoor market was up slightly to $6.9 million, from $6.8 million during the first quarter of 2008.
Expenditures on a new European subsidiary and Midwest distribution center contributed to a rise in operating expenses, to $10.9 million, up from $9 million in the same period last year.