Sales of LaCrosse’s Phoenix Fire Sock will support courageous firefighters
Portland, Ore. – August 29, 2006 – LaCrosse Footwear, Inc. (Nasdaq/NMS: BOOT), a leading provider of branded work and outdoor footwear for expert users, announced today a $6,624 donation to support the Courage & Valor Foundation. The donation supports firefighters who exemplify courage everyday and in remembrance of the fallen firefighters of September 11.
“We would like nothing more than to help support the firefighters who put their lives on the line everyday to service our country and keep us safe,” said Joseph P. Schneider, President and CEO. “We at LaCrosse Footwear are proud to help the Courage & Valor Foundation because of the exemplary values and support the Foundation provides.”
To support this worthy organization, LaCrosse Footwear donated over 500 pairs of its new Phoenix Fire socks to raise money for the Foundation. The Phoenix Fire Sock line was introduced to the market in spring 2006 to ensure fire retardant safety, comfort and support for those in the field. The Company made the premium LaCrosse branded socks available to attendees of the 2006 Fire Department Instructors Conference (FDIC) Show for a suggested donation of $3 per pair.
PennWell Corporation, parent company of FDIC and Fire Engineering magazine, created the Foundation in remembrance of all of the heroes lost on September 11, the legacy of Deputy Chief Ray Downey of the Fire Department of New York, and to recognize other firefighters who demonstrate that same courage and valor every day. Donations from the Foundation are awarded annually to a firefighter with the Ray Downey Courage & Valor Award for exemplary courage and valor in a rescue operation during the preceding year.
To further support the great cause and Foundation past initial sock sales of $1,656, LaCrosse Footwear matched donations dollar for dollar. The George and Virginia Schneider Charitable Foundation additionally graciously agreed to double the donation, bringing the grand total to $6,624.
“We are delighted by the generosity and recognition to the fire service that LaCrosse Footwear has demonstrated. Their continuing commitment to the fire service, FDIC and specifically the Fire Engineering Courage and Valor Foundation has set LaCrosse Footwear apart in this noble endeavor,” said Eric Schlett, vice president of PennWell Corporation’s Fire Group. “On behalf of PennWell Chief Executive Officer Robert F. Biolchini and the entire PennWell Corporation, I want to personally thank LaCrosse Footwear for their partnership.”
About LaCrosse Footwear
LaCrosse Footwear is a leading developer and marketer of branded, premium and innovative footwear for expert work and outdoor users. The Company’s trusted Danner® and LaCrosse® brands are distributed domestically through a nationwide network of specialty retailers and distributors, and internationally through distributors in Asia and Europe. Work customers include people in law enforcement, agriculture, firefighting, construction, industry, military services and other occupations that need high-performance and protective footwear as a critical tool for the job. Outdoor customers include people active in hunting, outdoor cross training, hiking and other outdoor recreational activities. For more information about LaCrosse Footwear products, please visit our Internet websites at www.lacrossefootwear.com, www.danner.com, www.firetechboots.com and www.lacrossesafety.com. For additional investor information, see our corporate website at www.lacrossefootwearinc.com.
All statements, other than statements of historical facts, included in this release, including without limitation, statements regarding our future financial position, business strategy, budgets, projected costs, goals and plans and objectives of management for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” will,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “believe,” “continue,” or “target” or the negative thereof or variations thereon or similar terminology. All forward-looking statements made in this release are based on information presently available to our management. Although we believe that the expectations reflected in forward-looking statements have a reasonable basis, we can give no assurance that these expectations will prove to be correct. Forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by the statements. These risks and uncertainties include, but are not limited to:
• Potential problems or delays associated with the manufacture, transportation and delivery of foreign-sourced products, primarily in China.
• Difficulties with accurate forecasting and controlling inventory levels, particularly for foreign sourced products with longer manufacturing lead times.
• Reliance on foreign-sourced products and concentrations of currency, labor, and political risks, primarily in China.
• Concentration of credit risk as our retail channel customers continue to consolidate and fund expansion of store growth.
• Weather and its impact on the demand for outdoor footwear.
• Product offerings that do not create customer demand.
• Fluctuations in operating results for the second half of the year, which would have a disproportionate effect on our overall financial condition and results of operations for the entire year due to increased seasonality.
• General domestic economic conditions, including interest rates and foreign currency exchange rates.
• Consumer confidence, unemployment rates and related demand for footwear, including work and outdoor footwear.
Restrictions imposed under United States and/or foreign trading rules, regulations and policies, including export/import regulations, duties, and regulations affecting manufacturers and/or importers.
Commodity price increases, including rubber and petroleum, which affect transportation costs, footwear component costs, and ultimately product costs.
You should consider these important factors in evaluating any statement contained in this release and/or made by us or on our behalf. For more information concerning these factors and other risks and uncertainties that could materially affect our consolidated financial results, please refer to Part I, Item 1A – Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended December 31, 2005, which information is incorporated herein by reference. The Company undertakes no obligation to update or revise forward-looking statements to reflect the occurrence of future events or circumstances.