EXHIBIT 99.1
 FOR IMMEDIATE RELEASE
  David Carlson
Executive Vice President and
Chief Financial Officer
LaCrosse Footwear, Inc.
503-262-0110 ext. 1331
    
    
    
    Michael Newman
Investor Relations
StreetConnect, Inc. 
800-654-3517
BOOT@stct.com
 LACROSSE FOOTWEAR REPORTS SECOND QUARTER RESULTS  Strong Growth Across Wholesale, Direct and International Sales Channels;
Sales to the Outdoor Market Up 18% Year-Over-Year




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Second Quarter 2011 Conference Call
  About LaCrosse Footwear, Inc.
 ® ®




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www.lacrossefootwear.com www.danner.com www.lacrossefootwearinc.com
 Forward-Looking Statements




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LaCrosse Footwear, Inc.
Condensed Consolidated Statements of Operations
  Quarter Ended
    
    
    First Half Year EndedJune 25,
    
    
    June 26,
    
    
    June 25,
    
    
    June 26,2011
    
    
    2010
    
    
    2011
    
    
    2010Net sales
    
    $
    27,056
    
    
    $
    26,553
    
    
    $
    52,244
    
    
    $
    60,780Cost of goods sold
    
    
    16,646
    
    
    
    15,690
    
    
    
    31,397
    
    
    
    36,149Gross profit
    
    
    10,410
    
    
    
    10,863
    
    
    
    20,847
    
    
    
    24,631Operating expenses
    
    
    10,603
    
    
    
    10,668
    
    
    
    21,987
    
    
    
    21,705Operating income (loss)
    
    
    (193
    )
    
    
    195
    
    
    
    (1,140
    )
    
    
    2,926Non-operating expense, net
    
    
    (113
    )
    
    
    (33
    )
    
    
    (238
    )
    
    
    (55
    )Income (loss) before income taxes
    
    
    (306
    )
    
    
    162
    
    
    
    (1,378
    )
    
    
    2,871Income tax provision (benefit)
    
    
    (121
    )
    
    
    61
    
    
    
    (543
    )
    
    
    1,108Net income (loss)
    
    $
    (185
    )
    
    $
    101
    
    
    $
    (835
    )
    
    $
    1,763Net income (loss) per common share:Basic
    
    $
    (0.03
    )
    
    $
    0.02
    
    
    $
    (0.13
    )
    
    $
    0.28Diluted
    
    $
    (0.03
    )
    
    $
    0.02
    
    
    $
    (0.13
    )
    
    $
    0.27Weighted average number of common
shares outstanding:Basic
    
    
    6,501
    
    
    
    6,430
    
    
    
    6,493
    
    
    
    6,401Diluted
    
    
    6,501
    
    
    
    6,632
    
    
    
    6,493
    
    
    
    6,577Supplemental Product Line InformationWork Market Sales
    
    $
    17,636
    
    
    $
    18,585
    
    
    $
    33,692
    
    
    $
    44,953Outdoor Market Sales
    
    
    9,420
    
    
    
    7,968
    
    
    
    18,552
    
    
    
    15,827$
    27,056
    
    
    $
    26,553
    
    
    $
    52,244
    
    
    $
    60,780




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LaCrosse Footwear, Inc.
 Condensed Consolidated Balance Sheets
 June 25,
    
    
    December 31,
    
    
    June 26,2011
    
    
    2010
    
    
    2010Assets:Current Assets:Cash and cash equivalents
    
    $
    622
    
    
    $
    4,274
    
    
    $
    17,317Trade and other accounts receivable, net
    
    
    15,358
    
    
    
    22,834
    
    
    
    16,260Inventories, net
    
    
    53,400
    
    
    
    40,071
    
    
    
    26,410Prepaid expenses and other
    
    
    1,156
    
    
    
    1,321
    
    
    
    1,191Deferred tax assets
    
    
    1,754
    
    
    
    1,614
    
    
    
    1,450Total current assets
    
    
    72,290
    
    
    
    70,114
    
    
    
    62,628Property and equipment, net
    
    
    16,002
    
    
    
    16,154
    
    
    
    12,135Goodwill
    
    
    10,753
    
    
    
    10,753
    
    
    
    10,753Other assets
    
    
    235
    
    
    
    249
    
    
    
    347Total assets
    
    $
    99,280
    
    
    $
    97,270
    
    
    $
    85,863Liabilities and Shareholders Equity:Current Liabilities:Short-term borrowings
    
    $
    13,404
    
    
    $
    
    
    
    $
    Accounts payable
    
    
    10,470
    
    
    
    16,477
    
    
    
    12,872Accrued compensation
    
    
    1,806
    
    
    
    4,261
    
    
    
    2,850Other accruals
    
    
    1,928
    
    
    
    3,356
    
    
    
    1,773Total current liabilities
    
    
    27,608
    
    
    
    24,094
    
    
    
    17,495Long-term debt
    
    
    201
    
    
    
    263
    
    
    
    300Deferred revenue
    
    
    549
    
    
    
    566
    
    
    
    150Deferred lease obligations
    
    
    811
    
    
    
    782
    
    
    
    722Compensation and benefits
    
    
    3,939
    
    
    
    4,385
    
    
    
    4,306Deferred tax liabilities
    
    
    3,142
    
    
    
    2,732
    
    
    
    2,181Total liabilities
    
    
    36,250
    
    
    
    32,822
    
    
    
    25,154Total shareholders equity
    
    
    63,030
    
    
    
    64,448
    
    
    
    60,709Total liabilities and shareholders equity
    
    $
    99,280
    
    
    $
    97,270
    
    
    $
    85,863




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LaCrosse Footwear, Inc.
Condensed Consolidated Statements of Cash Flows
 First Half Year EndedJune 25,
    
    
    June 26,2011
    
    
    2010Cash flows from operating activities:Net income (loss)
    
    $
    (835
    )
    
    $
    1,763Adjustments to reconcile net income (loss) to net cash provided by (used in) operating
activities:Depreciation and amortization
    
    
    1,783
    
    
    
    1,468Stock-based compensation expense
    
    
    404
    
    
    
    349Deferred income taxes
    
    
    270
    
    
    
    (98
    )Loss on disposal of property and equipment
    
    
    97
    
    
    
    4Changes in operating
assets and liabilities:Trade and other accounts receivable
    
    
    7,503
    
    
    
    5,322Inventories
    
    
    (13,242
    )
    
    
    435Accounts payable
    
    
    (5,791
    )
    
    
    3,517Accrued expenses and other
    
    
    (4,073
    )
    
    
    (2,816
    )Net cash provided by
(used in) operating activities
    
    
    (13,884
    )
    
    
    9,944Cash flows from investing activities:Purchases of property and equipment
    
    
    (2,048
    )
    
    
    (3,865
    )Cash flows from financing activities:Net proceeds from short-term borrowings
    
    
    13,404
    
    
    
    Net proceeds from long-term debt
    
    
    
    
    
    
    300Cash dividends paid
    
    
    (1,625
    )
    
    
    (8,007
    )Purchase of treasury stock
    
    
    
    
    
    
    (59
    )Proceeds from exercise of stock
options
    
    
    480
    
    
    
    1,369Net cash provided by (used in) financing activities
    
    
    12,259
    
    
    
    (6,397
    )Effect of foreign currency exchange rate changes on cash and cash equivalents
    
    
    21
    
    
    
    (104
    )Net decrease in cash and cash equivalents
    
    
    (3,652
    )
    
    
    (422
    )Cash and cash equivalents:Beginning of period
    
    
    4,274
    
    
    
    17,739End of period
    
    $
    622
    
    
    $
    17,317