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ROCKY BRANDS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 2,821,316 $ (37,134)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,869,535 2,808,696
Deferred compensation and other 544,278 280,594
Loss on disposal of fixed assets 48,125 15,100
Stock compensation expense 122,500 129,900
Change in assets and liabilities    
Receivables 5,769,386 5,343,396
Inventories (15,539,310) (6,391,200)
Other current assets (989,438) (893,243)
Other assets 291,579 930,208
Accounts payable 4,007,970 6,635,696
Accrued and other liabilities (1,581,534) (226,349)
Net cash (used in) provided by operating activities (1,635,593) 8,595,664
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (4,336,634) (2,589,880)
Investment in trademarks and patents (33,058) (19,327)
Proceeds from sale of fixed assets 38,219 21,360
Net cash used in investing activities (4,331,473) (2,587,847)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 38,369,172 126,138,795
Repayments of revolving credit facility (31,950,000) (115,579,265)
Debt financing costs   (150,000)
Repayments of long-term debt (1,991,120) (29,251,879)
Issuance of common stock, net of issuance costs   14,123,612
Proceeds from exercise of stock options 371,427 79,970
Net cash provided by (used in) financing activities 4,799,479 (4,638,767)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,167,587) 1,369,050
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 4,362,531 1,797,093
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 3,194,944 $ 3,166,143