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Third Quarter Fiscal 2008 Financial Results
Tuesday, October 28, 2008
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Rocky Brands Resolves Federal Suit
NELSONVILLE, Ohio -- April 28, 2008 -- On April 23, 2008, Rocky Brands, Inc. reached a settlement with Defendants Glen Bratcher, Westwood Footwear and Accessories LLC, and Nantong Hong Yi Wang Shoes Co. Ltd. in a lawsuit Rocky filed in the United States District Court for the Southern District of Ohio on February 5, 2008. The terms of the settlement are confidential.
Mike Brooks, Rocky's chief executive officer, said of the resolution of the suit: "We at Rocky have worked very hard over many years to establish lines of boots well known for their appealing designs, outstanding quality, and distinctive appearance. Rocky highly values its intellectual property rights and continues to enforce those rights whenever threatened by third parties.
"The trade dress of the Georgia Giant® collection of work boots, Rocky's collection of Rocky Ride western and work boots, and its product in the Durango line of boots remains strong. This lawsuit was a matter of highest importance for Rocky, its employees, and our customers and Rocky is extremely pleased with the resolution of the case."
Rocky Brands is a family of divisions that designs, develops, manufactures and markets premium rugged outdoor, occupational, work and Western footwear, as well as branded apparel and accessories under the following brands: ROCKY OUTDOOR GEAR®, GEORGIA BOOT®, DURANGO BOOT® and ZUMFOOT®. Its licensed brands include DICKIE FOOTWEAR® and MICHELIN®. The Nelsonville, Ohio-based company's footwear, apparel and accessories are marketed through several distribution channels. It is a publicly traded company on NASDAQ® under the symbol: RCKY.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Those statements include, but may not be limited to, all statements regarding intent, beliefs, expectations, projections, forecasts, and plans of the Company and its management, and include statements in this press release regarding prospects in 2008 (paragraph 3) and expected growth in the retail division (paragraph 9). These forward-looking statements involve numerous risks and uncertainties, including, without limitation, the various risks inherent in the Company's business as set forth in periodic reports filed with the Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2007 (filed March 6, 2008). One or more of these factors have affected historical results, and could in the future affect the Company's businesses and financial results in future periods and could cause actual results to differ materially from plans and projections. Therefore there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the Company, or any other person should not regard the inclusion of such information as a representation that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.
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