<SEC-DOCUMENT>0001144204-16-085772.txt : 20160303
<SEC-HEADER>0001144204-16-085772.hdr.sgml : 20160303
<ACCEPTANCE-DATETIME>20160303153405
ACCESSION NUMBER:		0001144204-16-085772
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		81
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160303
DATE AS OF CHANGE:		20160303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROCKY BRANDS, INC.
		CENTRAL INDEX KEY:			0000895456
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOTWEAR, (NO RUBBER) [3140]
		IRS NUMBER:				311364046
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34382
		FILM NUMBER:		161480880

	BUSINESS ADDRESS:	
		STREET 1:		39 EAST CANAL STREET
		CITY:			NELSONVILLE
		STATE:			OH
		ZIP:			45764
		BUSINESS PHONE:		6147531951

	MAIL ADDRESS:	
		STREET 1:		39 EAST CANAL STREET
		CITY:			NELSONVILLE
		STATE:			OH
		ZIP:			45764

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROCKY SHOES & BOOTS INC
		DATE OF NAME CHANGE:	19950706
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>v432962_10k.htm
<DESCRIPTION>FORM 10-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">United States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Securities and Exchange
Commission</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>FORM 10-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>(Mark One)</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings"><B>x</B></FONT></TD><TD STYLE="text-align: justify"><B>ANNUAL
                                         REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the fiscal year ended December 31, 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OR</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings"><B>o</B></FONT></TD><TD STYLE="text-align: justify"><B>TRANSITION
                                         REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission File Number: 001-34382</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ROCKY BRANDS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of Registrant as specified in
its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Ohio</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>No. 31-1364046</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>39 East Canal Street </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Nelsonville, Ohio 45764</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices, including
zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(740) 753-1951</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant's telephone number, including area
code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Securities registered
pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 10pt"><U>Title of each class</U></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 10pt"><U>Name of each exchange
    on which registered</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Common Shares, without par value</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">The NASDAQ Stock Market, Inc.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Securities registered
pursuant to Section 12(g) of the Act: None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark if the registrant is a well-known seasoned
issuer (as defined in Rule 405 of the Securities Act). Yes&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;No&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark if the registrant is not required to file
reports pursuant to Section 13 or Section 15(d) of the Act. Yes&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;No&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by checkmark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months, and (2) has been subject to the filing requirements for at least the past 90 days. YES <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT>
</FONT>NO <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (&sect; 232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files). YES <FONT STYLE="font-family: Wingdings">x</FONT>
NO <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's
knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment
to this Form 10-K.<B> </B><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer (as defined in Exchange Act Rule&nbsp;12b-2). (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 20%"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Wingdings 2"></FONT></FONT></TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center"><FONT STYLE="font-family: Wingdings 2; font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">Accelerated
    filer&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT><FONT STYLE="font-family: Wingdings 2"></FONT></FONT></TD>
    <TD NOWRAP STYLE="width: 33%; text-align: center"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;<FONT STYLE="font-family: Wingdings">&uml;
    </FONT><FONT STYLE="font-family: Wingdings 2"></FONT></FONT></TD>
    <TD NOWRAP STYLE="width: 27%; text-align: center"><FONT STYLE="font-size: 10pt">Smaller reporting company&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Do not check if a smaller reporting company)</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;No&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The aggregate market value of the Registrant's
Common Stock held by non-affiliates of the Registrant was approximately $129,568,298 on June 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were 7,583,901 shares of the Registrant's
Common Stock outstanding on February 19, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>DOCUMENTS INCORPORATED
BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Portions of the Registrant's Proxy Statement
for the 2016 Annual Meeting of Shareholders are incorporated by reference in Part III.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 15%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp; </B></P></td>
    <td style="width: 75%">&nbsp;</td>
    <TD STYLE="width: 10%; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <TD STYLE="text-align: center"><A HREF="#a_001"><FONT STYLE="font-size: 10pt"><B>PART I</B></FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 1. </FONT></td>
    <td><A HREF="#a_002"><FONT STYLE="font-size: 10pt">Business. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">3</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 1A.</FONT></td>
    <td><A HREF="#a_003"><FONT STYLE="font-size: 10pt">Risk Factors.</FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">11</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 1B.</FONT></td>
    <td><A HREF="#a_004"><FONT STYLE="font-size: 10pt">Unresolved Staff Comments.</FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">16</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 2. </FONT></td>
    <td><A HREF="#a_005"><FONT STYLE="font-size: 10pt">Properties. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">16</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 3. </FONT></td>
    <td><A HREF="#a_006"><FONT STYLE="font-size: 10pt">Legal Proceedings. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">16</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 4. </FONT></td>
    <td><A HREF="#a_007"><FONT STYLE="font-size: 10pt">Mine Safety Disclosures </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">16</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <td>&nbsp;</td>
    <td style="text-align: center"><A HREF="#a_008"><FONT STYLE="font-size: 10pt"><B>PART II</B></FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 5. </FONT></td>
    <td><A HREF="#a_009"><FONT STYLE="font-size: 10pt">Market for Registrant&rsquo;s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.</FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">17</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 6. </FONT></td>
    <td><A HREF="#a_010"><FONT STYLE="font-size: 10pt">Selected Consolidated Financial Data. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">19</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 7. </FONT></td>
    <td><A HREF="#a_011"><FONT STYLE="font-size: 10pt">Management's Discussion and Analysis of Financial Condition and Results of Operation. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">19</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 7A. </FONT></td>
    <td><A HREF="#a_012"><FONT STYLE="font-size: 10pt">Quantitative and Qualitative Disclosures About Market Risk. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">29</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 8. </FONT></td>
    <td><A HREF="#a_013"><FONT STYLE="font-size: 10pt">Financial Statements and Supplementary Data. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">30</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 9. </FONT></td>
    <td><A HREF="#a_014"><FONT STYLE="font-size: 10pt">Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">30</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 9A. </FONT></td>
    <td><A HREF="#a_015"><FONT STYLE="font-size: 10pt">Controls and Procedures. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">30</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 9B. </FONT></td>
    <td><A HREF="#a_016"><FONT STYLE="font-size: 10pt">Other Information. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">32</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="text-align: center"><A HREF="#a_017"><FONT STYLE="font-size: 10pt"><B>PART III</B></FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 10. </FONT></td>
    <td><A HREF="#a_018"><FONT STYLE="font-size: 10pt">Directors, Executive Officers and Corporate Governance. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">32</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 11. </FONT></td>
    <td><A HREF="#a_019"><FONT STYLE="font-size: 10pt">Executive Compensation. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">32</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 12. </FONT></td>
    <td><A HREF="#a_020"><FONT STYLE="font-size: 10pt">Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">32</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font-size: 10pt">Item 13. </FONT></td>
    <td><A HREF="#a_021"><FONT STYLE="font-size: 10pt">Certain Relationships and Related Transactions, and Director Independence. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">32</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 14. </FONT></td>
    <td><A HREF="#a_022"><FONT STYLE="font-size: 10pt">Principal Accounting Fees and Services. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">32</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="text-align: center"><A HREF="#a_023"><FONT STYLE="font-size: 10pt"><B>PART IV</B></FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><FONT STYLE="font-size: 10pt">Item 15. </FONT></td>
    <td><A HREF="#a_024"><FONT STYLE="font-size: 10pt">Exhibits, Financial Statement Schedules. </FONT></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">33</FONT></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_032"><FONT STYLE="font-size: 10pt"><B>SIGNATURES </B></FONT></A></td>
    <td><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="text-align: right; vertical-align: bottom">37</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>This Annual Report on Form 10-K contains forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of
1933, as amended. The words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;estimate,&rdquo; and
&ldquo;project&rdquo; and similar words and expressions identify forward-looking statements which speak only as of the date hereof.
Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially
from historical or anticipated results due to many factors, including, but not limited to, the factors discussed in &ldquo;Item
1A, Risk Factors.&rdquo; The Company undertakes no obligation to publicly update or revise any forward-looking statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_001"></A><B>PART I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><A NAME="a_002"></A>ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BUSINESS.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">All references to &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo;
&ldquo;Rocky Brands,&rdquo; or the &ldquo;Company&rdquo; in this Annual Report on Form 10-K mean Rocky Brands, Inc. and our subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We are a leading designer, manufacturer and marketer of premium
quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango,
Lehigh, Creative Recreation and the licensed brand Michelin. Our brands have a long history of representing high quality, comfortable,
functional and durable footwear and our products are organized around six target markets: outdoor, work, duty, commercial military,
western and lifestyle. Our footwear products incorporate varying features and are positioned across a range of suggested retail
price points from $49.99 for our value priced products to $359.99 for our premium products. In addition, as part of our strategy
of outfitting consumers from head-to-toe, we market complementary branded apparel and accessories that we believe leverage the
strength and positioning of each of our brands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our products are distributed through three distinct business segments:
wholesale, retail and military. In our wholesale business, we distribute our products through a wide range of distribution channels
representing over 10,000 retail store locations in the U.S. and Canada as well as in several international markets. Our wholesale
channels vary by product line and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores,
catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers. Our retail
business includes direct sales of our products to consumers through our e-commerce websites and our Rocky outlet store. We operate
four mobile trucks to service the New York Transit Authority&rsquo;s employees. We also sell footwear under the Rocky label to
the U.S. military.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Competitive Strengths</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our competitive strengths include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Strong portfolio of brands. </I>We believe the Rocky,
                                         Georgia Boot, Durango, Lehigh, Creative Recreation and Michelin brands are well recognized
                                         and established names that have a reputation for performance, quality and comfort in
                                         the markets they serve: outdoor, work, duty, commercial military, western and lifestyle.
                                         We plan to continue strengthening these brands through product innovation in existing
                                         footwear markets, by extending certain of these brands into our other target markets
                                         and by introducing complementary apparel and accessories under our owned brands.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Commitment to product innovation. </I>We believe a critical
                                         component of our success in the marketplace has been a result of our continued commitment
                                         to product innovation. Our consumers demand high quality, durable products that incorporate
                                         the highest level of comfort and the most advanced technical features and designs. We
                                         have a dedicated group of product design and development professionals, including well
                                         recognized experts in the footwear and apparel industries, who continually interact with
                                         consumers to better understand their needs and are committed to ensuring our products
                                         reflect the most advanced designs, features and materials available in the marketplace.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Long-term retailer relationships. </I>We believe that
                                         our long history of designing, manufacturing and marketing premium quality, branded footwear
                                         has enabled us to develop strong relationships with our retailers in each of our distribution
                                         channels. We reinforce these relationships by continuing to offer innovative footwear
                                         products, by continuing to meet the individual needs of each of our retailers and by
                                         working with our retailers to improve the visual merchandising of our products in their
                                         stores. We believe that strengthening our relationships with retailers will allow us
                                         to increase our presence through additional store locations and expanded shelf space,
                                         improve our market position in a consolidating retail environment and enable us to better
                                         understand and meet the evolving needs of both our retailers and consumers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Diverse product sourcing and manufacturing capabilities.
                                         </I>We believe our strategy of utilizing both company operated and third-party facilities
                                         for the sourcing of our products, offers several advantages. Operating our own facilities
                                         significantly improves our knowledge of the entire production process, which allows us
                                         to more efficiently source product from third parties that is of the highest quality
                                         and at the lowest cost available. We intend to continue to source a higher proportion
                                         of our products from third-party manufacturers, which we believe will enable us to obtain
                                         high quality products at lower costs per unit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Growth Strategy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We intend to increase our sales through the following strategies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Expand into new target markets under existing brands.
                                         </I>We believe there is significant opportunity to extend certain of our brands into
                                         our other target markets. We intend to continue to introduce products across varying
                                         feature sets and price points in order to meet the needs of our retailers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Cross-sell our brands to our retailers. </I>We believe
                                         that many retailers of our existing and acquired brands target consumers with similar
                                         characteristics and, as a result, we believe there is significant opportunity to offer
                                         each of our retailers a broader assortment of footwear and apparel that target multiple
                                         markets and span a range of feature sets and price points.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Expand business internationally</I>. We intend to extend
                                         certain of our brands into international markets.&nbsp; We believe this is a significant
                                         opportunity because of the long history and authentic heritage of these brands. We intend
                                         on growing our business internationally through a network of distributors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Increase apparel offerings. </I>We believe the long history
                                         and authentic heritage of our owned brands provide significant opportunity to extend
                                         each of these brands into complementary apparel. We intend to continue to increase our
                                         Rocky apparel offerings and believe that similar opportunities exist for our Georgia
                                         Boot and Durango brands in their respective markets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Acquire or develop new brands. </I>We intend to continue
                                         to acquire or develop new brands that are complementary to our portfolio and could leverage
                                         our operational infrastructure and distribution network.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Product Lines</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our product lines consist of high quality products that target
the following markets:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Outdoor.</I> Our outdoor product lines consist of footwear,
                                         apparel and accessory items marketed to outdoor enthusiasts who spend time actively engaged
                                         in activities such as hunting, fishing, camping or hiking. Our consumers demand high
                                         quality, durable products that incorporate the highest level of comfort and the most
                                         advanced technical features, and we are committed to ensuring our products reflect the
                                         most advanced designs, features and materials available in the marketplace. Our outdoor
                                         product lines consist of all-season sport/hunting footwear, apparel and accessories that
                                         are typically waterproof and insulated and are designed to keep outdoorsmen comfortable
                                         on rugged terrain or in extreme weather conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Work.</I> Our work product lines consist of footwear
                                         and apparel marketed to industrial and construction workers, as well as workers in the
                                         hospitality industry, such as restaurants or hotels. All of our work products are specially
                                         designed to be comfortable, incorporate safety features for specific work environments
                                         or tasks and meet applicable federal and other standards for safety. This category includes
                                         products such as safety toe footwear for steel workers and non-slip footwear for kitchen
                                         workers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Duty.</I> Our duty product line consists of footwear
                                         products marketed to law enforcement, security personnel and postal employees who are
                                         required to spend a majority of time at work on their feet. All of our duty footwear
                                         styles are designed to be comfortable, flexible, lightweight, slip resistant and durable.
                                         Duty footwear is generally designed to fit as part of a uniform and typically incorporates
                                         stylistic features, such as black leather uppers in addition to the comfort features
                                         that are incorporated in all of our footwear products.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Commercial Military.</I> Our commercial military product
                                         line consists of footwear products marketed to military personnel as a substitute for
                                         the government issued military boots. Our commercial military boots are designed to be
                                         comfortable, lightweight, and durable and are marketed under the Rocky brand name.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Western.</I> Our western product line currently consists
                                         of authentic footwear products marketed to farmers and ranchers who generally live in
                                         rural communities in North America. We also selectively market our western footwear to
                                         consumers enamored with the western lifestyle.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD><I>Lifestyle.</I> Our lifestyle product line currently consists
                                         of footwear products marketed to more fashion minded urban consumers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our products are marketed under five well-recognized, proprietary
brands, Rocky, Georgia Boot, Durango, Creative Recreation and Lehigh, in addition to the licensed brand Michelin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Rocky</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Rocky, established in 1979, is our premium priced line of branded
footwear, apparel and accessories. We currently design Rocky products for each of our five target markets and offer our products
at a range of suggested retail price points: $69.99 to $339.99 for our footwear products, $18.99 to $174.99 for tops and bottoms
in our apparel lines and $8.99 to $599.99 for our basic and technical outerwear.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Rocky brand originally targeted outdoor enthusiasts, particularly
hunters, and has since become the market leader in the hunting boot category. In 2002, we also extended into hunting apparel,
including jackets, pants, gloves and caps. Our Rocky products for hunters and other outdoor enthusiasts are designed for specific
weather conditions and the diverse terrains of North America. These products incorporate a range of technical features and designs
such as Gore-Tex waterproof breathable fabric, 3M Thinsulate insulation, nylon Cordura fabric and camouflaged uppers featuring
either Mossy Oak or Realtree patterns. Rugged outsoles made by industry leaders like Vibram are sometimes used in conjunction
with our proprietary design features like the &ldquo;Rocky Ride Comfort System&rdquo; to make the products durable and easy to
wear.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We also produce Rocky duty and commercial military footwear targeting
law enforcement professionals, military, security workers and postal service employees, and we believe we have established a leading
market share position in this category.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In 2002, we introduced Rocky work footwear designed for varying
weather conditions or difficult terrain, particularly for people who make their living outdoors such as those in lumber or forestry
occupations. These products typically include many of the proprietary features and technologies that we incorporate in our hunting
and outdoor products. Similar to our strategy for the outdoor market, we introduced rugged work apparel in 2004, such as ranch
jackets and carpenter jeans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We have also introduced western influenced work boots for farmers
and ranchers. Most of these products are waterproof, insulated and utilize our proprietary comfort systems. We also recently introduced
some men&rsquo;s and women&rsquo;s casual western footwear for consumers enamored with western influenced fashion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Georgia Boot</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Georgia Boot was launched in 1937 and is our moderately priced,
high quality line of work footwear. Georgia Boot footwear is sold at suggested retail price points ranging from $54.99 to $359.99.
This line of products primarily targets construction workers and those who work in industrial plants where special safety features
are required for hazardous work environments. Many of our boots incorporate steel toes or metatarsal guards to protect wearers&rsquo;
feet from heavy objects and non-slip outsoles to prevent slip related injuries in the work place. All of our boots are designed
to help prevent injury and subsequent work loss and are designed according to standards determined by the Occupational Safety
&amp; Health Administration or other standards required by employers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In addition, we market a line of Georgia Boot footwear to brand
loyal consumers for hunting and other outdoor activities. These products are primarily all leather boots distributed in the western
and southwestern states where hunters do not require camouflaged boots or other technical features incorporated in our Rocky footwear.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We believe the Georgia Boot brand can be extended into moderately
priced duty footwear as well as outdoor and work apparel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Durango</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Durango is our moderately priced, high quality line of western
footwear and leather jackets. Launched in 1965, the brand has developed broad appeal and earned a reputation for authenticity
and quality in the western footwear and apparel market. Our current line of products is offered at suggested retail price points
ranging from $49.99 to $359.99, and we market products designed for both work and casual wear. Our Durango line of products primarily
targets farm and ranch workers who live in the heartland where western influenced footwear and apparel is worn for work and casual
wear and, to a lesser extent, this line appeals to urban consumers enamored with western influenced fashion. Many of our western
boots marketed to farm and ranch workers are designed to be durable, including special &ldquo;barn yard acid resistant&rdquo;
leathers to maintain integrity of the uppers, and incorporate our proprietary &ldquo;Comfort Core&rdquo; system to increase ease
of wear and reduce foot fatigue. Other products in the Durango line that target casual and fashion oriented consumers have colorful
leather uppers and shafts with ornate stitch patterns and are offered for men, women and children.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Creative Recreation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In December 2013, we completed the acquisition of certain assets
of Kommonwealth, Inc. including the Creative Recreation brand and trademark. Headquartered in Los Angeles, California, since 2002,
Creative Recreation was first to create and market versatile footwear that could easily transition between casual and more formal
environments. Creative Recreation&rsquo;s collections of upscale sneakers quickly gained strong acceptance and support from a
wide array of key influencers across multiple categories including music, sports, and acting. Creative Recreation&rsquo;s ability
to successfully fuse style and versatility across a diversified assortment of products has created a wide target demographic and
a strong distribution network that spans multiple channels and price points including Barneys New York, Nordstrom and Journeys.
The current line of products is offered at suggested retail price points ranging from $30.00 to $200.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Lehigh</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Lehigh brand was launched in 1922 and is our moderately priced,
high quality line of safety shoes sold at suggested retail price points ranging from $79.99 to $234.99. Our current line of products
is designed to meet occupational safety footwear needs. Most of this footwear incorporates steel toes to protect workers and often
incorporates other safety features such as metatarsal guards or non-slip outsoles. Additionally, certain models incorporate durability
features to combat abrasive surfaces or caustic substances often found in some work places.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">With the shift in manufacturing jobs to service jobs in the U.S.,
Lehigh began marketing products for the hospitality industry. These products have non-slip outsoles designed to reduce slips,
trips and falls in kitchen environments where floors are often tiled and greasy. Price points for this kind of footwear range
from $49.99 to $89.99.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Michelin</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Michelin is a premier price point line of work footwear targeting
specific industrial professions, primarily indoor professions. The license to design, develop and manufacture footwear under the
Michelin name was secured in 2006. Suggested retail prices for the Michelin brand are from $35.00 to $249.99. The license agreement
for the Michelin brand expired on December 31, 2015. At this time we are in negotiations with Michelin to extend the license agreement
to December 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Sales and Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our products are distributed through three distinct business segments:
wholesale, retail and military. You can find more information regarding our three business segments in Note 13 to our consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Wholesale</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">In the U.S., we distribute Rocky, Georgia Boot,
Durango, Creative Recreation and Michelin products through a wide range of wholesale distribution channels. As of December 31,
2015, our products were offered for sale at over 10,000 retail locations in the U.S. and Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We sell our products to wholesale accounts in the U.S. primarily
through a dedicated in-house sales team who carry our branded products exclusively, as well as independent sales representatives
who carry our branded products and other non-competing products. Our sales force for Rocky is organized around major accounts,
including Bass Pro Shops, Cabela&rsquo;s, Dick&rsquo;s Sporting Goods, Tractor Supply Company and Gander Mountain, and around
our target markets: outdoor, work, duty, commercial military and western. For our Georgia Boot and Durango brands, our sales employees
are organized around each brand and target a broad range of distribution channels. All of our sales people actively call on their
retail customer base to educate them on the quality, comfort, technical features and breadth of our product lines and to ensure
that our products are displayed effectively at retail locations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our wholesale distribution channels vary by market:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>Our outdoor products are sold primarily through sporting
                                         goods stores, outdoor specialty stores, catalogs and mass merchants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>Our work-related products are sold primarily through retail
                                         uniform stores, catalogs, farm store chains, specialty safety stores, independent shoe
                                         stores and hardware stores.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>Our duty products are sold primarily through uniform stores
                                         and catalog specialists.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>Our commercial military products are sold primarily through
                                         base exchanges such as AAFES and consumer e-commerce websites.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>Our western products are sold through western stores, work
                                         specialty stores, specialty farm and ranch stores and more recently, fashion oriented
                                         footwear retailers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>Our lifestyle products are sold primarily through fashion
                                         oriented footwear retailers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Retail</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We market products directly to consumers through three retail strategies
under the Lehigh retail brand: Lehigh business-to-business including direct sales and through our Custom Fit websites, consumer
e-commerce websites, and our stores, which include our outlet store, mobile and retail stores.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Websites</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We sell our product lines on our websites at <I>www.rockyboots.com</I>,
<I>www.georgiaboot.com</I>, <I>www.durangoboot.com, www.lehighoutfitters.com</I>, <I>www.lehighsafetyshoes.com</I>, <I>www.slipgrips.com,
www.rockymilitary.com, www.rockys2v.com, 4eursole.com and cr8rec.com</I>. We believe that our internet presence allows us to showcase
the breadth and depth of our product lines in each of our target markets and enables us to educate our consumers about the unique
technical features of our products. We also sell directly to our business customers directly through our Custom Fit websites that
are tailored to the specific needs of our customers. Our customers&rsquo; employees order directly through their employers&rsquo;
established Custom Fit website and the footwear is delivered directly to the consumer via a common freight carrier. Our customers
include large, national companies such as Carnival Cruise Lines, Pepsi, Schneider, Hagemeyer, Saint Gobain, Holland America Cruise
Lines, and Waste Management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Outlet Store</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We operate the Rocky outlet store in Nelsonville, Ohio. Our outlet
store primarily sells first quality or discontinued products in addition to a limited amount of factory damaged goods. Related
products from other manufacturers are also sold in the store. Our outlet store allows us to showcase the breadth of our product
lines as well as to cost-effectively sell slow-moving inventory. Our outlet store also provides an opportunity to interact with
consumers to better understand their needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Mobile and Retail Stores</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Lehigh&rsquo;s successful continued focus on converting our customers
from delivery via our mobile and retail stores to purchasing via our Custom Fit sites and delivery direct has led to the continued
reduction of the mobile and retail stores in the past several years. In 2016 we will continue to service the New York City Transit
Authority with mobile stores.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Military</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">While we are focused on continuing to build our wholesale and retail
business, we also actively bid on footwear contracts with the U.S. military, which requires products to be made in the U.S. Our
manufacturing facilities in Puerto Rico, a U.S. territory, allow us to competitively bid for such contracts. We have received
an order to fulfill a contract to the U.S. Military to produce &ldquo;Hot Weather&rdquo; combat boots. We began shipping boots
in the first quarter of 2013. The contract included a minimum purchase amount of $3.0 million and a maximum of $15.0 million for
the first year and included an option for four additional years with the same terms. During 2014 and 2015, we shipped boots under
this same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In early 2016, we announced we had received an order to fulfill
a contract to the U.S. Military to produce &ldquo;Temperate Weather&rdquo; combat boots. The contract includes a minimum purchase
amount of $13.0 million with the entire order projected to ship between March and October 2016. Along with the existing contract,
we now have approximately $31 million in military orders scheduled for delivery in 2016, a 78% increase over 2015 levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">All of our footwear for the U.S. military is currently branded
Rocky. We believe that many U.S. service men and women are active outdoor enthusiasts and may be employed in many of the work
and duty markets that we target with our brands. As a result, we believe our sales to the U.S. military serve as an opportunity
to reach our target demographic with high quality branded products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Marketing and Advertising</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">We believe that our brands have a reputation
for high quality, comfort, functionality and durability built through their long history in the markets they serve. To further
increase the strength and awareness of our brands, we have developed comprehensive marketing and advertising programs to gain
national exposure and expand brand awareness for each of our brands in their target markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We have focused the majority of our advertising efforts on consumers
in support of our retail partners. A key component of this strategy includes in-store point of purchase materials that add a dramatic
focus to our brands and the products our retail partners carry. We also advertise through targeted national and local cable programs
and print publications aimed at audiences that share the demographic profile of our typical customers. In addition, we promote
our products on national radio broadcasts and through event sponsorships. These sponsorship&rsquo;s provide significant national
exposure for all of our brands as well as a direct connection to our target consumer. Our print advertisements and radio and television
commercials emphasize the technical features of our products as well as their high quality, comfort, functionality and durability.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">We also support independent dealers by
listing their locations in our national print advertisements. In addition to our national advertising campaigns, we have developed
attractive merchandising displays and store-in-store concept fixturing that are available to our retailers who purchase the breadth
of our product lines. We also attend numerous tradeshows which allow us to showcase our entire product line to retail buyers and
have historically been an important source of new accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Product Design and Development</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We believe that product innovation is a key competitive advantage
for us in each of our markets. Our goal in product design and development is to continue to create and introduce new and innovative
footwear and apparel products that combine our standards of quality, functionality and comfort and that meet the changing needs
of our retailers and consumers. Our product design and development process is highly collaborative and is typically initiated
both internally by our development staff and externally by our retailers and suppliers, whose employees are generally active users
of our products and understand the needs of our consumers. Our product design and development personnel, marketing personnel and
sales representatives work closely together to identify opportunities for new styles, camouflage patterns, design improvements
and newer, more advanced materials. We have a dedicated group of product design and development professionals, some of whom are
well recognized experts in the footwear and apparel industries, who continually interact with consumers to better understand their
needs and are committed to ensuring our products reflect the most advanced designs, features and materials available in the marketplace.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Manufacturing and Sourcing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We manufacture footwear in facilities that we operate in the Dominican
Republic and Puerto Rico, and source footwear, apparel and accessories from third-party facilities, primarily in China. We do
not have long-term contracts with any of our third-party manufacturers. The products purchased from GuangDong Dongguan YongDu
Shoes Company, one of our third-party manufacturers in China with whom we have had a long-term relationship, represented approximately
10% of our net sales in 2015. The products purchased from General Shoes US Corporation and its subsidiaries, another one of our
third-party manufacturers in China with whom we have had a relationship for over 20 years and which has historically accounted
for a significant portion of our manufacturing, represented approximately 6% of our net sales in 2015. We believe that operating
our own facilities significantly improves our knowledge of the entire raw material sourcing and manufacturing process enabling
us to more efficiently source finished goods from third parties that are of the highest quality and at the lowest cost available.
In addition, our Puerto Rican facilities allow us to produce footwear for the U.S. military and other commercial businesses that
require production by a U.S. manufacturer. Sourcing products from offshore third-party facilities generally enables us to lower
our costs per unit while maintaining high product quality and it limits the capital investment required to establish and maintain
company operated manufacturing facilities. Because quality is an important part of our value proposition to our retailers and
consumers, we source products from manufacturers who have demonstrated the intent and ability to maintain the high quality that
has become associated with our brands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Quality control is stressed at every stage of the manufacturing
process and is monitored by trained quality assurance personnel at each of our manufacturing facilities, including our third-party
factories. In addition, we utilize a team of procurement, quality control and logistics employees in our China office to visit
factories to conduct quality control reviews of raw materials, work in process inventory and finished goods. We also utilize quality
control personnel at our finished goods distribution facilities to conduct quality control testing on incoming sourced finished
goods and raw materials and inspect random samples from our finished goods inventory from each of our manufacturing facilities
to ensure that all items meet our high quality standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Foreign Operations and Sales Outside of the United States</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our products are primarily distributed in the United States, Canada,
South America, Europe and Asia. We ship our products from our finished goods distribution facility located in Logan, Ohio and
third-party logistics operations in Sumner, Washington and Ontario, Canada. Certain of our retailers receive shipments directly
from our manufacturing sources, including all of our U.S. military sales, which are shipped directly from our manufacturing facilities
in Puerto Rico. Net sales to foreign countries, primarily Canada, represented approximately 4.8% of net sales in 2015, 6.3% of
net sales in 2014, and 2.9% of net sales in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As previously mentioned, we maintain manufacturing facilities that
we operate in the Dominican Republic and Puerto Rico. In addition, we utilize a third party distribution facility in Canada and
an office in China to support our contract manufacturers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The net book value of fixed assets located outside of the U.S.
totaled $4.1 million at December 31, 2015, $4.7 million at December 31, 2014, and $4.9 million at December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Suppliers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We purchase raw materials from sources worldwide. We do not have
any long-term supply contracts for the purchase of our raw materials, except for limited blanket purchase orders on leather to
protect wholesale selling prices for an extended period of time. The principal raw materials used in the production of our products,
in terms of dollar value, are leather, Gore-Tex waterproof breathable fabric, Cordura nylon fabric and soling materials. We believe
these materials will continue to be available from our current suppliers. However, in the event these materials are not available
from our current suppliers, we believe these products, or similar products, would be available from alternative sources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Seasonality and Weather</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Historically, we have experienced significant seasonal fluctuations
in our business because we derive a significant portion of our revenues from sales of our outdoor products. Many of our outdoor
products are used by consumers in cold or wet weather. As a result, a majority of orders for these products are placed by our
retailers in January through April for delivery in July through October. In order to meet demand, we must manufacture and source
outdoor footwear year round to be in a position to ship advance orders for these products during the last two quarters of each
year. Accordingly, average inventory levels have been highest during the second and third quarters of each year and sales have
been highest in the last two quarters of each year. In addition, mild or dry weather conditions historically have had a material
adverse effect on sales of our outdoor products, particularly if they occurred in broad geographical areas during late fall or
early winter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Since 2005, we have experienced and we expect that we will continue
to experience less seasonality and that our business will be subject to reduced weather risk because we now derive a higher proportion
of our sales from work-related footwear products. Generally, work, duty and western footwear is sold year round and is not subject
to the same level of seasonality or variation in weather as our outdoor product lines. However, because of seasonal fluctuations
and variations in weather conditions from year to year, there is no assurance that the results for any particular interim period
will be indicative of results for the full year or for future interim periods. With the acquisition of the Creative Recreation
brand and the move toward more lifestyle geared products that are less dependent on weather conditions, we hope to reduce the
seasonality and dependence on the variations in the weather.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Backlog</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">At December 31, 2015, our backlog was $43.0 million compared to
$21.6 million at December 31, 2014. The increase at December 31, 2015 is related to the US Military contract for 2016. The backlog
related to this contract is $27.7 million at December 31, 2015, compared to $4.4 million at December 31, 2014. Because a substantial
portion of our orders are placed by our retailers in January through April for delivery in July through October, our backlog is
lowest during the October through December period and peaks during the April through June period. Factors other than seasonality
could have a significant impact on our backlog and, therefore, our backlog at any one point in time may not be indicative of future
results. Generally, orders may be canceled by retailers prior to shipment without penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Patents, Trademarks and Trade Names </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">We own numerous design and utility patents for
footwear, footwear components (such as insoles and outsoles) and outdoor apparel in the U.S. and in foreign countries including
Canada, Mexico, China and Taiwan. We own U.S. and certain foreign registrations for the trademarks used in our business, including
our trademarks Rocky, Georgia Boot, Durango, Lehigh and Creative Recreation. In addition, we license trademarks, including Gore-Tex
and Michelin, in order to market our products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Our license with W. L. Gore &amp; Associates,
Inc. permits us to use the Gore-Tex and related marks on products and styles that have been approved in advance by Gore. The license
agreement has a one year term that automatically renews each year, unless either party elects to terminate by giving advance written
notice to the other party by October 1 for termination effective December 31 of that same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Our license with Michelin Lifestyle Limited permits
us to use the Michelin and related marks on our products. Our license agreement with Michelin Lifestyle Limited to use the Michelin
name terminated on December 31, 2015. At this time, we are in negotiations with Michelin to extend the license agreement to December
31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">In the U.S., our patents are generally in effect
for up to 20 years from the date of the filing of the patent application. Our trademarks are generally valid as long as they are
in use and their registrations are properly maintained and have not been found to become generic. Trademarks registered outside
of the U.S. generally have a duration of 10 years depending on the jurisdiction and are also generally subject to an indefinite
number of renewals for a like period upon appropriate application.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">While we have an active program to protect our
intellectual property by filing for patents and trademarks, we do not believe that our overall business is materially dependent
on any individual patent or trademark. We are not aware of any infringement of our intellectual property rights or that we are
infringing any intellectual property rights owned by third parties. Moreover, we are not aware of any material conflicts concerning
our trademarks or our use of trademarks owned by others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Competition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We operate in a very competitive environment. Product function,
design, comfort, quality, technological and material improvements, brand awareness, timeliness of product delivery and pricing
are all important elements of competition in the markets for our products. We believe that the strength of our brands, the quality
of our products and our long-term relationships with a broad range of retailers allows us to compete effectively in the footwear
and apparel markets that we serve. However, we compete with footwear and apparel companies that have greater financial, marketing,
distribution and manufacturing resources than we do. In addition, many of these competitors have strong brand name recognition
in the markets they serve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The footwear and apparel industry is also subject to rapid changes
in consumer preferences. Some of our product lines are susceptible to changes in both technical innovation and fashion trends.
Therefore, the success of these products and styles are more dependent on our ability to anticipate and respond to changing product,
material and design innovations as well as fashion trends and consumer demands in a timely manner. Our inability or failure to
do so could adversely affect consumer acceptance of these product lines and styles and could have a material adverse effect on
our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Employees </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">At December 31, 2015, we had approximately 2,447 employees of which
approximately 2,418 are full time employees. Approximately 1,993 of our employees work in our manufacturing facilities in the
Dominican Republic and Puerto Rico. None of our employees are represented by a union. We believe our relations with our employees
are good.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Available Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We make available free of charge on our corporate website, <I>www.rockybrands.com</I>,
our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and, if applicable, amendments to
those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, as soon
as reasonably practicable after such reports are electronically filed with or furnished to the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_003"></A>ITEM 1A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RISK
FACTORS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Business Risks </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Expanding our brands into new footwear and apparel markets
may be difficult and expensive, and if we are unable to successfully continue such expansion, our brands may be adversely affected,
and we may not achieve our planned sales growth.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our growth strategy is founded substantially on the expansion of
our brands into new footwear and apparel markets. New products that we introduce may not be successful with consumers or one or
more of our brands may fall out of favor with consumers. If we are unable to anticipate, identify or react appropriately to changes
in consumer preferences, we may not grow as fast as we plan to grow or our sales may decline, and our brand image and operating
performance may suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Furthermore, achieving market acceptance for new products will
likely require us to exert substantial product development and marketing efforts, which could result in a material increase in
our selling, general and administrative, or SG&amp;A, expenses, and there can be no assurance that we will have the resources
necessary to undertake such efforts. Material increases in our SG&amp;A expenses could adversely impact our results of operations
and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We may also encounter difficulties in producing new products that
we did not anticipate during the development stage. Our development schedules for new products are difficult to predict and are
subject to change as a result of shifting priorities in response to consumer preferences and competing products. If we are not
able to efficiently manufacture newly-developed products in quantities sufficient to support retail distribution, we may not be
able to recoup our investment in the development of new products. Failure to gain market acceptance for new products that we introduce
could impede our growth, reduce our profits, adversely affect the image of our brands, erode our competitive position and result
in long term harm to our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>A majority of our products are produced outside the U.S.
where we are subject to the risks of international commerce.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">A majority of our products are produced in the Dominican Republic
and China. Therefore, our business is subject to the following risks of doing business offshore:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>the imposition of additional United States legislation and
                                         regulations relating to imports, including quotas, duties, taxes or other charges or
                                         restrictions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>foreign governmental regulation and taxation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>fluctuations in foreign exchange rates;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>changes in economic conditions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>transportation conditions and costs in the Pacific and Caribbean;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>changes in the political stability of these countries; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.2in">&bull;</TD><TD>changes in relationships between the United States and these
                                         countries.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If any of these factors were to render the conduct of business
in these countries undesirable or impracticable, we would have to manufacture or source our products elsewhere. There can be no
assurance that additional sources or products would be available to us or, if available, that these sources could be relied on
to provide product at terms favorable to us. The occurrence of any of these developments could have a material adverse effect
on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our success depends on our ability to anticipate consumer
trends.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Demand for our products may be adversely affected by changing consumer
trends. Our future success will depend upon our ability to anticipate and respond to changing consumer preferences and technical
design or material developments in a timely manner. The failure to adequately anticipate or respond to these changes could have
a material adverse effect on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Loss of services of our key personnel could adversely affect
our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The development of our business has been, and will continue to
be, highly dependent upon David Sharp, President and Chief Executive Officer, and James E. McDonald, Executive Vice President,
Chief Financial Officer and Treasurer. Messrs. Sharp and McDonald each have an at-will employment agreement with us. Each employment
agreement provides that in the event of termination of employment, without cause, the terminated executive will receive a severance
benefit. In the event of termination for any reason, the terminated executive may not compete with us for a period of one year.
Except for Gary Adam, President &ndash; Sales of Rocky Brands International, LLC, Jason Brooks, President &ndash; Sales of Rocky
Brands Wholesale, LLC, and Richard Simms, President &ndash; Marketing Services, and Michael Walker, Senior Vice President and
General Manager, Supply Chain Operations, of the Company, none of our other executive officers and key employees has an employment
agreement with our company. The loss of the services of any of these officers could have a material adverse effect on our business,
financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We depend on a limited number of suppliers for key production
materials, and any disruption in the supply of such materials could interrupt product manufacturing and increase product costs.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We purchase raw materials from a number of domestic and foreign
sources. We do not have any long-term supply contracts for the purchase of our raw materials, except for limited blanket orders
on leather. The principal raw materials used in the production of our footwear, in terms of dollar value, are leather, Gore-Tex
waterproof breathable fabric, Cordura nylon fabric and soling materials. Availability or change in the prices of our raw materials
could have a material adverse effect on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We currently have a licensing agreement for the use of Gore-Tex
waterproof breathable fabric, and any termination of this licensing agreement could impact our sales of waterproof products.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We are currently one of the largest customers of Gore-Tex waterproof
breathable fabric for use in footwear. Our licensing agreement with W.L. Gore &amp; Associates, Inc. may be terminated by either
party upon advance written notice to the other party by October 1 for termination effective December 31 of that same year. Although
other waterproofing techniques and materials are available, we place a high value on our Gore-Tex waterproof breathable fabric
license because Gore-Tex has high brand name recognition with our customers. The loss of our license to use Gore-Tex waterproof
breathable fabric could have a material adverse effect on our competitive position, which could have a material adverse effect
on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our outdoor products are seasonal.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We have historically experienced significant seasonal fluctuations
in our business because we derive a significant portion of our revenues from sales of our outdoor products. Many of our outdoor
products are used by consumers in cold or wet weather. As a result, a majority of orders for these products are placed by our
retailers in January through April for delivery in July through October. In order to meet demand, we must manufacture and source
outdoor footwear year round to be in a position to ship advance orders for these products during the last two quarters of each
year. Accordingly, average inventory levels have been highest during the second and third quarters of each year and sales have
been highest in the last two quarters of each year. There is no assurance that we will have either sufficient inventory to satisfy
demand in any particular quarter or have sufficient demand to sell substantially all of our inventory without significant markdowns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our outdoor products are sensitive to weather conditions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Historically, our outdoor products have been used primarily in
cold or wet weather. Mild or dry weather has in the past and may in the future have a material adverse effect on sales of our
products, particularly if mild or dry weather conditions occur in broad geographical areas during late fall or early winter. Also,
due to variations in weather conditions from year to year, results for any single quarter or year may not be indicative of results
for any future period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our business could suffer if our third-party manufacturers
violate labor laws or fail to conform to generally accepted ethical standards.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We require our third-party manufacturers to meet our standards
for working conditions and other matters before we are willing to place business with them. As a result, we may not always obtain
the lowest cost production. Moreover, we do not control our third-party manufacturers or their respective labor practices. If
one of our third-party manufacturers violates generally accepted labor standards by, for example, using forced or indentured labor
or child labor, failing to pay compensation in accordance with local law, failing to operate its factories in compliance with
local safety regulations or diverging from other labor practices generally accepted as ethical, we likely would cease dealing
with that manufacturer, and we could suffer an interruption in our product supply. In addition, such a manufacturer&rsquo;s actions
could result in negative publicity and may damage our reputation and the value of our brand and discourage retail customers and
consumers from buying our products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The growth of our business will be dependent upon the availability
of adequate capital.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The growth of our business will depend on the availability of adequate
capital, which in turn will depend in large part on cash flow generated by our business and the availability of equity and debt
financing. We cannot assure that our operations will generate positive cash flow or that we will be able to obtain equity or debt
financing on acceptable terms or at all. Our revolving credit facility contains provisions that restrict our ability to incur
additional indebtedness or make substantial asset sales that might otherwise be used to finance our expansion. Security interests
in substantially all of our assets, which may further limit our access to certain capital markets or lending sources, secure our
obligations under our revolving credit facility. Moreover, the actual availability of funds under our revolving credit facility
is limited to specified percentages of our eligible inventory and accounts receivable. Accordingly, opportunities for increasing
our cash on hand through sales of inventory would be partially offset by reduced availability under our revolving credit facility.
As a result, we cannot assure you that we will be able to finance our current expansion plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We must comply with the restrictive covenants contained in
our revolving credit facility.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our credit facility requires us to comply with certain financial
restrictive covenants that impose restrictions on our operations, including our ability to incur additional indebtedness, make
investments of other restricted payments, sell or otherwise dispose of assets and engage in other activities. Any failure by us
to comply with the restrictive covenants could result in an event of default under those borrowing arrangements, in which case
the lenders could elect to declare all amounts outstanding there under to be due and payable, which could have a material adverse
effect on our financial condition. Our credit facility contains a restrictive covenant which requires us to maintain a fixed charge
coverage ratio. This restrictive covenant is only in effect upon a triggering event taking place (as defined in the credit facility
agreement). At December 31, 2015, there was no triggering event and the covenant was not in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We face intense competition, including competition from companies
with significantly greater resources than ours, and if we are unable to compete effectively with these companies, our market share
may decline and our business could be harmed.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The footwear and apparel industries are intensely competitive,
and we expect competition to increase in the future. A number of our competitors have significantly greater financial, technological,
engineering, manufacturing, marketing and distribution resources than we do, as well as greater brand awareness in the footwear
market. Our ability to succeed depends on our ability to remain competitive with respect to the quality, design, price and timely
delivery of products. Competition could materially adversely affect our business, financial condition, results of operations and
cash flows.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We currently manufacture a portion of our products and we
may not be able to do so in the future at costs that are competitive with those of competitors who source their goods.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We currently plan to retain our internal manufacturing capability
in order to continue benefiting from expertise we have gained with respect to footwear manufacturing methods conducted at our
manufacturing facilities. We continue to evaluate our manufacturing facilities and third-party manufacturing alternatives in order
to determine the appropriate size and scope of our manufacturing facilities. There can be no assurance that the costs of products
that continue to be manufactured by us can remain competitive with products sourced from third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We rely on distribution centers in Logan, Ohio, Sumner, Washington
and Waterloo, Ontario, Canada, and if there is a natural disaster or other serious disruption at any of these facilities, we may
be unable to deliver merchandise effectively to our retailers.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We rely on distribution centers located in Logan, Ohio, Sumner,
Washington and Waterloo, Ontario, Canada. Any natural disaster or other serious disruption at any of these facilities due to fire,
tornado, flood, terrorist attack or any other cause could damage a portion of our inventory or impair our ability to use our distribution
center as a docking location for merchandise. Either of these occurrences could impair our ability to adequately supply our retailers
and harm our operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We are subject to certain environmental and other regulations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Some of our operations use substances regulated under various federal,
state, local and international environmental and pollution laws, including those relating to the storage, use, discharge, disposal
and labeling of, and human exposure to, hazardous and toxic materials. Compliance with current or future environmental laws and
regulations could restrict our ability to expand our facilities or require us to acquire additional expensive equipment, modify
our manufacturing processes or incur other significant expenses. In addition, we could incur costs, fines and civil or criminal
sanctions, third-party property damage or personal injury claims or could be required to incur substantial investigation or remediation
costs, if we were to violate or become liable under any environmental laws. Liability under environmental laws can be joint and
several and without regard to comparative fault. There can be no assurance that violations of environmental laws or regulations
have not occurred in the past and will not occur in the future as a result of our inability to obtain permits, human error, equipment
failure or other causes, and any such violations could harm our business, financial condition, results of operations and cash
flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If our efforts to establish and protect our trademarks, patents
and other intellectual property are unsuccessful, the value of our brands could suffer.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We regard certain of our footwear designs as proprietary and rely
on patents to protect those designs. We believe that the ownership of patents is a significant factor in our business. Existing
intellectual property laws afford only limited protection of our proprietary rights, and it may be possible for unauthorized third
parties to copy certain of our footwear designs or to reverse engineer or otherwise obtain and use information that we regard
as proprietary. If our patents are found to be invalid, however, to the extent they have served, or would in the future serve,
as a barrier to entry to our competitors, such invalidity could have a material adverse effect on our business, financial condition,
results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We own U.S. registrations for a number of our trademarks, trade
names and designs, including such marks as Rocky, Georgia Boot, Durango, Lehigh and Creative Recreation. Additional trademarks,
trade names and designs are the subject of pending federal applications for registration. We also use and have common law rights
in certain trademarks. Over time, we have increased distribution of our goods in several foreign countries. Accordingly, we have
applied for trademark registrations in a number of these countries. We intend to enforce our trademarks and trade names against
unauthorized use by third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our success depends on our ability to forecast sales.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our investments in infrastructure and product inventory are based
on sales forecasts and are necessarily made in advance of actual sales. The markets in which we do business are highly competitive,
and our business is affected by a variety of factors, including brand awareness, changing consumer preferences, product innovations,
susceptibility to fashion trends, retail market conditions, weather conditions and economic and other factors. One of our principal
challenges is to improve our ability to predict these factors, in order to enable us to better match production with demand. In
addition, our growth over the years has created the need to increase the investment in infrastructure and product inventory and
to enhance our systems. To the extent sales forecasts are not achieved, costs associated with the infrastructure and carrying
costs of product inventory would represent a higher percentage of revenue, which would adversely affect our business, financial
condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>A privacy breach could have a material
adverse effect on the Company's business and reputation</I>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We rely heavily on digital technologies for the successful operation
of our business, including electronic messaging, digital marketing efforts and the collection and retention of customer data and
employee information. We also rely on third parties to process credit card transactions, perform online e-commerce and social
media activities and retain data relating to the Company&rsquo;s financial position and results of operations, strategic initiatives
and other important information. Despite the security measures we have in place, our facilities and systems and those of our third-party
service providers, may be vulnerable to cyber-security breaches, acts of vandalism, computer viruses, misplaced or lost data,
programming and/or human errors or other similar events. Any misappropriation, loss or other unauthorized disclosure of confidential
or personally identifiable information, whether by us or by our third-party service providers, could adversely affect our business.
We maintain cyber risk insurance, but this insurance may not be sufficient to cover all of our losses from any future breaches
of our systems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our dividend policy may change. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Although we have paid dividends to our shareholders, we have no
obligation to continue doing so and may change our dividend policy at any time without notice to our shareholders. Holders of
our common stock are only entitled to receive such cash dividends as our board of directors may declare out of funds legally available
for such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Risks Related to Our Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Because the footwear market is sensitive to decreased consumer
spending and slow economic cycles, if general economic conditions deteriorate, many of our customers may significantly reduce
their purchases from us or may not be able to pay for our products in a timely manner.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The footwear industry has been subject to cyclical variation and
decline in performance when consumer spending decreases or softness appears in the retail market. Many factors affect the level
of consumer spending in the footwear industry, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>general business conditions;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>interest rates;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>the availability of consumer credit;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>weather;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>increases in prices of nondiscretionary
                                         goods;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>taxation; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in; text-align: right">&bull;</TD><TD STYLE="width: 0.2in"></TD><TD>consumer confidence in future economic
                                         conditions.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Consumer purchases of discretionary items, including our products,
may decline during recessionary periods and also may decline at other times when disposable income is lower. A downturn in regional
economies where we sell products also reduces sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The continued shift in the marketplace from traditional independent
retailers to large discount mass merchandisers may result in decreased margins.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">A continued shift in the marketplace from traditional independent
retailers to large discount mass merchandisers has increased the pressure on many footwear manufacturers to sell products to these
mass merchandisers at less favorable margins. Because of competition from large discount mass merchandisers, a number of our small
retailing customers have gone out of business, and in the future more of these customers may go out of business, which could have
a material adverse effect on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_004"></A><B>ITEM 1B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNRESOLVED
STAFF COMMENTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_005"></A>ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROPERTIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We own our 25,000 square foot executive offices that are located
in Nelsonville, Ohio, which are utilized by all segments. We also own our 192,000 square foot finished goods distribution facility
in Logan, Ohio, which is utilized by our wholesale and retail segments. We also own our 41,000 square foot outlet store and a
5,500 square foot executive office building located in Nelsonville, Ohio, a portion of which is utilized by our retail segment.
We lease an office in California for our Creative Recreation business. This lease expires in March 2018. We lease two manufacturing
facilities in Puerto Rico consisting of 44,978 square feet and 39,581 square feet which are utilized by the wholesale and military
segments. These leases expire in 2019. In the Dominican Republic, we lease seven stand-alone manufacturing facilities as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Square</FONT><BR>
    <FONT STYLE="font-size: 10pt">Footage</FONT></td>
    <TD NOWRAP STYLE="width: 10%">&nbsp;</td>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Lease</FONT><BR>
    <FONT STYLE="font-size: 10pt">Expiration</FONT></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">93,097</FONT></td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: center"><FONT STYLE="font-size: 10pt">2019</FONT></td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">36,186</FONT></td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: center"><FONT STYLE="font-size: 10pt">2019</FONT></td></tr>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">28,684</FONT></td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: center"><FONT STYLE="font-size: 10pt">2018</FONT></td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13,918</FONT></td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: center"><FONT STYLE="font-size: 10pt">2016</FONT></td></tr>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">34,373</FONT></td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: center"><FONT STYLE="font-size: 10pt">2018</FONT></td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20,135</FONT></td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: center"><FONT STYLE="font-size: 10pt">2018</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><A NAME="a_006"></A><B>ITEM 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LEGAL
PROCEEDINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We are, from time to time, a party to litigation which arises in
the normal course of our business. Although the ultimate resolution of pending proceedings cannot be determined, in the opinion
of management, the resolution of these proceedings in the aggregate will not have a material adverse effect on our financial position,
results of operations, or liquidity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_007"></A>ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MINE
SAFETY DISCLOSURES. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_008"></A><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in; text-align: left"><A NAME="a_009"></A><B>ITEM 5.</B></TD><TD><B>MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER
                                         MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Market Information </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Our common stock trades on the NASDAQ Global
Select Market under the symbol &ldquo;RCKY.&rdquo; The following table sets forth the range of high and low sales prices for our
common stock for the periods indicated, as reported by the NASDAQ Global Select Market:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Quarter Ended</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">High</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Low</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Dividends<BR> Per Share</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%">March 31, 2014</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">16.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13.35</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>June 30, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15.69</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13.82</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>September 30, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15.42</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13.70</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>December 31, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15.15</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12.61</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>March 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">23.11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12.94</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>June 30, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">23.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">17.34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>September 30, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19.91</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13.34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>December 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.08</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: left">On February 19, 2016, the last
reported sales price of our common stock on the NASDAQ Global Select Market was $11.00 per share. As of February 19, 2016, there
were 76 shareholders of record of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Dividends</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">During 2013, our board of directors adopted a
dividend policy under which the Company intends to pay a cash dividend on its common stock. During 2015, 2014 and 2013, we paid
dividends on our common stock totaling $3,252,254, $3,017,979 and $2,254,935, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps"><B>Performance Graph</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">The following performance
graph compares our performance of the Company with the NASDAQ Composite Index and the Standard &amp; Poor&rsquo;s Footwear Index,
which is a published industry index. The comparison of the cumulative total return to shareholders for each of the periods assumes
that $100 was invested on December 31, 2010, in our common stock, and in the NASDAQ Stock Market (U.S.) Index and the Standard
&amp; Poor&rsquo;s Footwear Index and that all dividends were reinvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><IMG SRC="tpg18.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.75in"><B><A NAME="a_010"></A>ITEM 6.</B></TD><TD><B>SELECTED CONSOLIDATED FINANCIAL DATA<FONT STYLE="font-size: 10pt">.</FONT></B></TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ROCKY BRANDS, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SELECTED CONSOLIDATED FINANCIAL DATA </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(in thousands, except for per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="18" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Five
    Year Financial Summary</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12/31/15</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12/31/14</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12/31/13</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12/31/12</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12/31/11</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Income Statement Data</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net sales</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">269,302</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">286,242</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">244,871</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">228,537</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">239,969</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross margin (% of sales)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.0</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net income (loss)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,603</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,845</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,373</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,855</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,307</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends paid on common stock</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,252</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,018</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,255</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per Share</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net income</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.87</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.30</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.98</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.18</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.11</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.87</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.30</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.98</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.18</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.11</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="7"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted average number of common
    shares outstanding</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,563</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,545</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,517</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,503</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,487</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Diluted</Font></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,574</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,548</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,517</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,503</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,487</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balance Sheet Data</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">76,991</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">85,237</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,172</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">67,196</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65,019</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">193,865</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">213,228</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">199,025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">174,844</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">174,066</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Working capital</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">114,474</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">124,773</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">118,242</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">105,435</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">108,575</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-term debt, less current maturities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,700</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36,270</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38,388</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,461</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders' equity</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">142,121</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">138,348</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">131,213</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">125,637</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">116,660</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The 2013 financial data reflects charges for
$0.8 million, net of tax benefits, for acquisition related expenses and a gain on bargain purchase of $0.4 million, net of tax.
The 2011 financial data reflects charges for $3.7 million, net of tax benefits, for the termination of our defined benefit pension
plan. Certain amounts from prior years related to royalty income have been reclassified to conform to current presentation. In
2013, we began reporting royalty income as a component of net sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in; text-align: left"><B><A NAME="a_011"></A>ITEM 7.</B></TD><TD><B>MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                                         AND RESULTS OF OPERATIONS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">This Management&rsquo;s Discussion and Analysis
of Financial Condition and Result of Operations (&ldquo;MD&amp;A&rdquo;) describes the matters that we consider to be important
to understanding the results of our operations for each of the three years in the period ended December 31, 2015, and our capital
resources and liquidity as of December 31, 2015 and 2014. Use of the terms &ldquo;Rocky,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo;
&ldquo;us&rdquo; and &ldquo;our&rdquo; in this discussion refer to Rocky Brands, Inc. and its subsidiaries. Our fiscal year begins
on January 1 and ends on December 31. We analyze the results of our operations for the last three years, including the trends
in the overall business followed by a discussion of our cash flows and liquidity, our credit facility, and contractual commitments.
We then provide a review of the critical accounting judgments and estimates that we have made that we believe are most important
to an understanding of our MD&amp;A and our consolidated financial statements. We conclude our MD&amp;A with information on recent
accounting pronouncements which we adopted during the year, as well as those not yet adopted that are expected to have an impact
on our financial accounting practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The following discussion should be read in conjunction
with the &ldquo;Selected Consolidated Financial Data&rdquo; and our consolidated financial statements and the notes thereto, all
included elsewhere herein. The forward-looking statements in this section and other parts of this document involve risks and uncertainties
including statements regarding our plans, objectives, goals, strategies, and financial performance. Our actual results could differ
materially from the results anticipated in these forward-looking statements as a result of factors set forth under the caption
&ldquo;Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995&rdquo; below. The Private Securities Litigation
Reform Act of 1995 provides a &ldquo;safe harbor&rdquo; for forward-looking statements made by or on behalf of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Certain amounts from prior year related to royalty
income have been reclassified to conform to current year presentation. In 2013, we began reporting royalty income as a component
of net sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Creative Recreation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">In December 2013, we completed the acquisition
of certain assets of Kommonwealth, Inc. including the Creative Recreation trademark. Headquartered in Los Angeles, California,
since 2002, Creative Recreation was first to create and market versatile footwear brand that could easily transition between casual
and more formal environments. Creative Recreation&rsquo;s collections of upscale sneakers quickly gained strong acceptance and
support from a wide array of key influencers across multiple categories including music, sports, and acting. Creative Recreation&rsquo;s
ability to successfully fuse style and versatility across a diversified assortment of products has created a wide target demographic
and a strong distribution network that spans multiple channels and price points.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">We believe by combining Rocky&rsquo;s strong
operating platform and access to capital with Creative Recreation&rsquo;s design expertise we can strategically expand their business
both domestically and overseas. At the same time, this transaction provides us with a compelling vehicle to penetrate the casual
end of the market to complement our work, western and outdoor categories.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The total purchase price was approximately $8.7
million including cash and assumption of certain liabilities. The acquisition was funded by our existing cash balances and funds
available under our existing revolving credit facility. We did not have any sales in 2013 related to this acquisition and the
business incurred approximately $0.2 million of operating expenses during 2013. In addition, we incurred approximately $1.2 million
of related acquisition expenses that were reflected in the results of operations for the year 2013. In addition, we recorded a
gain on bargain purchase of $0.6 million related to this acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>EXECUTIVE OVERVIEW </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">We are a leading designer, manufacturer and marketer
of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot,
Durango, Lehigh, Creative Recreation and the licensed brand Michelin. <U> </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Our products are distributed through three distinct
business segments: wholesale, retail and military. In our wholesale business, we distribute our products through a wide range
of distribution channels representing over ten-thousand retail store locations in the U.S. and Canada as well as in several international
markets. Our wholesale channels vary by product line and include sporting goods stores, outdoor retailers, independent shoe retailers,
hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers.
Our retail business includes direct sales of our products to consumers primarily through our websites. We also sell footwear under
the Rocky label to the U.S. military.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">In early 2016, we announced we had received an
order to fulfill a contract to the U.S. Military to produce &ldquo;Temperate Weather&rdquo; combat boots. The contract includes
a minimum purchase amount of $13.0 million with the entire order projected to ship between March and October 2016. Along with
the existing contract, we now have approximately $31 million in military orders scheduled for delivery in 2016, a 78% increase
over 2015 levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Our growth strategy is founded substantially
on the expansion of our brands into new footwear and apparel markets. New products that we introduce may not be successful with
consumers or one or more of our brands may fall out of favor with consumers. If we are unable to anticipate, identify or react
appropriately to changes in consumer preferences, we may not grow as fast as we plan to grow or our sales may decline, and our
brand image and operating performance may suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Furthermore, achieving market acceptance for
new products will likely require us to exert substantial product development and marketing efforts, which could result in a material
increase in our selling, general and administrative, or SG&amp;A, expenses, and there can be no assurance that we will have the
resources necessary to undertake such efforts. Material increases in our SG&amp;A expenses could adversely impact our results
of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We may also encounter difficulties in producing new products
that we did not anticipate during the development stage. Our development schedules for new products are difficult to predict and
are subject to change as a result of shifting priorities in response to consumer preferences and competing products. If we are
not able to efficiently manufacture newly-developed products in quantities sufficient to support retail distribution, we may not
be able to recoup our investment in the development of new products. Failure to gain market acceptance for new products that we
introduce could impede our growth, reduce our profits, adversely affect the image of our brands, erode our competitive position
and result in long term harm to our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FINANCIAL SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Net sales of the wholesale segment decreased $27.8 million
in 2015 from prior year primarily as a result of decreased sales in all of our footwear and apparel categories. The decrease in
2015 is primarily due to warmer temperatures in the fourth quarter and weak retail store traffic.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Net sales of the retail segment increased $1.5 million
in 2015 from the prior year primarily as a result of higher sales from our business and consumer web platforms.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Net sales of the military segment increased $9.4 million
in 2015 from the prior year. From time to time, we bid on military contracts when they become available. Our sales under such
contracts are dependent on us winning the bids for these contracts and the purchase orders received on these contracts. We have
received an order to fulfill a contract to the U.S. Military to produce &ldquo;Hot Weather&rdquo; combat boots. During 2015 and
2014, we shipped boots under this same agreement.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Gross margin of the wholesale segment decreased $9.9
million in 2015 from the prior year as a result of the lower sales and slightly lower margin. Gross margin as a percent of sales
for 2015 was 40 basis points less than the prior year.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Gross margin of the retail segment increased $1.2 million
in 2015 over the prior year as a result of a higher sales and higher margin as a percentage of sales. The increase in margin as
a percentage of sales was largely due to higher margins on our consumer web business that has continued drive our retail growth.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross
margin of the military segment increased $1.2 million in 2015 over the prior year due primarily to higher sales.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Selling, general and administrative expenses decreased
$2.2 million in 2015 from prior year primarily as result of lower compensation expenses and lower freight expenses associated
with the decrease in sales.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
interest expense decreased $0.2 million in 2015 from the prior year due to lower levels of debt.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
income decreased $3.2 million in 2015 from prior year results primarily due to lower sales in our wholesale business.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Total debt at December&nbsp;31, 2015 was $23.7 million
or $12.6&nbsp;million lower than the prior year. Total debt minus cash and cash equivalents was $20.3 million or 12.2% of total
capitalization at December 31, 2015 compared to $31.7 million or 18.1% of total capitalization at year-end 2014.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Our cash from operating activities increased $10.3&nbsp;million
in 2015 over the prior year, primarily the result of lower accounts receivable and lower inventory levels at the end of 2015.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Net sales.</I> Net sales and related cost of goods sold are
recognized at the time products are shipped to the customer and title transfers. Net sales are recorded net of estimated sales
discounts and returns based upon specific customer agreements and historical trends. Net sales include royalty income from licensing
our brands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Cost of goods sold.</I> Our cost of goods sold represents
our costs to manufacture products in our own facilities, including raw materials costs and all overhead expenses related to production,
as well as the cost to purchase finished products from our third-party manufacturers. Cost of goods sold also includes the cost
to transport these products to our distribution centers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>SG&amp;A expenses.</I> Our SG&amp;A expenses consist primarily
of selling, marketing, wages and related payroll and employee benefit costs, travel and insurance expenses, depreciation, amortization,
professional fees, facility expenses, bank charges, and warehouse and outbound freight expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Percentage of Net Sales</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth consolidated statements of operations
data as percentages of total net sales:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">Years Ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">Net sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100.0</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100.0</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100.0</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">67.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">66.3</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">65.9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross margin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33.0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33.7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34.1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>SG&amp;A expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29.1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28.2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29.1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Acquisition related expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Income from operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Year Ended December 31, 2015 Compared to Year Ended December
31, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><I>Net sales.</I> Net sales decreased
5.9% to $269.3 million for 2015 compared to $286.2 million the prior year. Wholesale sales decreased $27.8 million to $206.1 million
for 2015 compared to $233.9 million for 2014. The decrease in wholesale sales was primarily the result of decreases in most all
our footwear and apparel categories. The decreases in 2015 are primarily the result of warmer temperatures in the critical fall
shipping season and weak retail store traffic in the fourth quarter that pressured demand in all of our categories. Retail sales
increased to $45.8 million for 2015 compared to $44.3 million for 2014. The $1.5 million increase in</FONT> <FONT STYLE="font-size: 10pt">retail
sales resulted from increased sales in our business-to-consumer ecommerce web platforms. Military segment sales, which occur from
time to time, were $17.4 million for 2015 compared to $8.0 million in 2014. From time to time, we bid on military contracts when
they become available. Our sales under such contracts are dependent on us winning the bids for these contracts and the purchase
orders received on these contracts. We have received an order to fulfill a contract to the U.S. Military to produce &ldquo;Hot
Weather&rdquo; combat boots. During 2015 and 2014, we shipped boots under this agreement. Average list prices in 2015 for our
footwear, apparel and accessories were comparable to 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Gross margin.</I> Gross margin decreased to $88.9 million
or 33.0% of net sales for 2015 compared to $96.4 million or 33.7% of net sales for the prior year. Wholesale gross margin for
2015 was $66.0 million, or 32.0% of net sales, compared to $75.8 million, or 32.4% of net sales in 2014. The 40 basis point decline
was largely due to lower average selling prices. Retail gross margin for 2015 was $20.6 million, or 45.0% of net sales, compared
to $19.4 million, or 43.9% of net sales, in 2014. The 110 basis point increase in 2015 from the prior year was largely due to
a shift in sales toward our business-to-consumer platforms, which carry higher margins. Military gross margin in 2015 was $2.3
million, or 13.1% of net sales, compared to $1.1 million, or 13.4% of net sales in 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>SG&amp;A expenses.</I> SG&amp;A expenses were $78.4 million,
or 29.1% of net sales in 2015 compared to $80.6 million, or 28.2% of net sales for 2014. The net decrease primarily reflected
lower compensation expenses of $3.1 million and lower freight costs of $0.8 million, partially offset by higher spending on advertising
of $1.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Interest expense.</I> Interest expense was $0.7 million
in 2015, compared to $0.9 million for the prior year. The decrease in interest expense in 2015 from the prior year was due to
lower overall levels of debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Income taxes.</I> Income tax expense was $3.1 million in
2015, compared to $4.9 million for the same period a year ago. The decrease in income tax expense for 2015 was due to a $5.1 million
decrease in pretax income and a decrease in the effective tax rate. The effective tax rate for 2015 was 31.8% compared to 33.2%
for 2014. The effective tax rate for 2015 is less than the federal statutory rate due principally to our permanent capital investment
in the Dominican Republic which reduces the amount of dividends that we need to provide for U.S income taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Year Ended December 31, 2014 Compared to Year Ended December
31, 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><I>Net sales.</I> Net sales increased
16.9% to $286.2 million for 2014 compared to $244.9 million the prior year. Wholesale sales increased $41.0 million to $233.9
million for 2014 compared to $192.9 million for 2013. The increase in wholesale sales was primarily the result of a $14.0 million
or 135.3% increase in our lifestyle footwear category, an $8.8 million or 10.0% increase in our work footwear category, an $8.3
million or 23.1% increase in our western footwear category, a $4.4 million or 23.2% increase in our outdoor footwear category
and a $2.3 million or 12.0% increase in our commercial military footwear category. The increase in the lifestyle footwear category
for 2014 was the result of a full year of sales under the Creative Recreation brand, which contributed $14.4 million in net sales
during 2014. Retail sales increased to $44.3 million for 2014 compared to $43.1 million for 2013. The $1.3 million increase in
retail sales resulted from increased sales in our business-to-consumer ecommerce web platforms. Military segment sales, which
occur from time to time, were $8.0 million for 2014 compared to $8.9 million in 2013. From time to time, we bid on military contracts
when they become available. Our sales under such contracts are dependent on us winning the bids for these contracts and the purchase
orders received on these contracts. We have received an order to fulfill a contract to the U.S. Military to produce &ldquo;Hot
Weather&rdquo; combat boots. Shipment of the boots began in the first quarter of 2013. During 2014, we shipped boots under this
same agreement. Average list prices for our footwear, apparel and accessories were higher in 2014 than 2013 as we increased our
list prices to offset higher manufacturing and sourcing costs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Gross margin.</I> Gross margin increased to $96.4 million
or 33.7% of net sales for 2014 compared to $83.5 million or 34.1% of net sales for the prior year. Wholesale gross margin for
2014 was $75.8 million, or 32.4% of net sales, compared to $62.4 million, or 32.4% of net sales in 2013. Retail gross margin for
2014 was $19.4 million, or 43.9% of net sales, compared to $19.9 million, or 46.1% of net sales, in 2013. The 220 basis point
decrease in 2014 from the prior year was largely due to lower margins on contract sales to a large city transit authority. Military
gross margin in 2014 was $1.1 million, or 13.4% of net sales, compared to $1.3 million, or 14.3% of net sales in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>SG&amp;A expenses.</I> SG&amp;A expenses were $80.6 million,
or 28.2% of net sales in 2014 compared to $72.5 million, or 29.6% of net sales for 2013. The net increase primarily reflected
the additional expenses of $5.6 million related to the Creative Recreation business and increases in compensation and benefits
of $2.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Acquisition related items.</I> Acquisition related items
in 2013 included expenses of $1.2 million related to the aforementioned acquisition of the Creative Recreation brand, which are
included as a component of income from operations. In addition, a gain on bargain purchase of $0.6 million was recorded and is
included as a component of total other income and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Interest expense.</I> Interest expense was $0.9 million
in 2014, compared to $0.7 million for the prior year. The increase in interest expense in 2014 over prior year was due to higher
levels of debt, primarily in the first half of 2014 as a result of the Creative Recreation acquisition in late 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Income taxes.</I> Income tax expense was $4.9 million in
2014, compared to $3.4 million for the same period a year ago. The increase in income tax expense for 2014 was due to a $3.9 million
increase in pretax income and an increase in the effective tax rate. The effective tax rate for 2014 was 33.2% compared to 31.8%
for 2013. The effective tax rate for 2014 is less than the federal statutory rate due principally to our permanent capital investment
in the Dominican Republic which reduces the amount of dividends that we need to provide for U.S income taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>LIQUIDITY AND CAPITAL RESOURCES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our principal sources of liquidity have been our income from
operations and borrowings under our credit facility and other indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Over the last several years our principal uses of cash have
been for working capital and capital expenditures to support our growth. Our working capital consists primarily of trade receivables
and inventory, offset by accounts payable and accrued expenses. Our working capital fluctuates throughout the year as a result
of our seasonal business cycle and business expansion and is generally lowest in the months of January through March of each year
and highest during the months of May through October of each year. We typically utilize our revolving credit facility to fund
our seasonal working capital requirements. As a result, balances on our revolving credit facility will fluctuate significantly
throughout the year. Our working capital decreased to $114.5 million at December 31, 2015, compared to $124.8 million at the end
of the prior year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our capital expenditures relate primarily to projects relating
to our corporate offices, property, merchandising fixtures, molds and equipment associated with our manufacturing and distribution
operations and for information technology. Capital expenditures were $8.7 million for 2015 and $7.1 million in 2014. Capital expenditures
for 2016 are anticipated to be approximately $6.9 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In October 2010, we entered into a financing agreement with
PNC Bank (&ldquo;PNC&rdquo;) to provide a $70 million credit facility. In December 2014, we amended and restated the credit facility
to increase the facility to $75 million and extend the term of the facility an additional five years to November 2019. The credit
facility&rsquo;s base interest rate is the current prime rate less 0.25%, however the credit facility provides us the option to
borrow on up to eight fixed loans at LIBOR plus 1.25% in accordance with the 2014 amended and restated credit agreement. The LIBOR
rate is determined based on the fixed loan maturities, which vary from 30, 60, 90, or 180 days. As of December 31, 2015 and December
31, 2014, we had approximately $17.0 million and $35.0 million, respectively, in fixed LIBOR borrowings under the credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The total amount available under our amended
and restated revolving credit facility is subject to a borrowing base calculation based on various percentages of accounts receivable
and inventory. As of December 31, 2015, we had $23.7 million in borrowings under this facility and total capacity of $66.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our amended and restated credit facility
contains a restrictive covenant which requires us to maintain a fixed charge coverage ratio. This restrictive covenant is only
in effect upon a triggering event taking place (as defined in the amended and restated credit facility agreement). At December
31, 2015, there was no triggering event and the covenant was not in effect. Our amended and restated credit facility places a
restriction on the amount of dividends that may be paid. During 2015, 2014 and 2013, we paid dividends on our common stock totaling
$3,252,254, $3,017,979 and $2,254,935, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our amended and restated revolving credit facility matures
in November 2019. We have no other long-term debt maturities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We believe that our credit facility coupled with cash generated
from operations will provide sufficient liquidity to fund our operations for at least the next twelve months. Our continued liquidity,
however, is contingent upon future operating performance, cash flows and our ability to meet financial covenants under our credit
facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on our expected borrowings for 2016, a hypothetical 100
basis point increase in short term interest rates would result, over the subsequent twelve-month period, in a reduction of approximately
$0.2 million in income before income taxes and cash flows. The estimated reductions are based upon the current level of variable
debt and assume no changes in the composition of that debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">Cash Flow Summary</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>($ in millions)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Cash provided by (used in):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-left: 0.125in">Operating activities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">23.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(2.4</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8.6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7.4</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10.0</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(15.8</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(5.2</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">12.6</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net change in cash and cash equivalents</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Operating Activities. </I>Net cash provided by operating
activities totaled $23.2 million for 2015, compared to $13.0 million for 2014. Net cash used in operating activities was $2.4 million
for 2013. The principal sources of net cash in 2015 included lower balances of accounts receivable and inventory, which were partially
offset by lower balances of accounts payable and other accrued liabilities. The principal sources of net cash in 2014 included
higher net income and increases in accounts payable and other accrued liabilities, which were partially offset by higher balances
of inventory and accounts receivable. The principle use of net cash in 2013 was the result of higher working capital primarily
increases in inventory and accounts receivable and decreases in accounts payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Investing Activities. </I> Net cash used in investing activities
was $8.6 million in 2015 compared to $7.4 million in 2014 and $10.0 million in 2013. The principal use of cash in 2015, 2014 and
2013 was for the purchase of molds and equipment associated with our manufacturing and distribution operations and for information
technology software and system upgrades. The 2013 amount includes $2.2 million related to the purchase of the Creative Recreation
brand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Financing Activities.</I> Cash used in financing activities
during 2015 was $15.8 million compared to $5.2 million for 2014. Cash provided by financing activities during 2013 was $12.6 million.
Proceeds and repayments of the revolving credit facility reflect daily cash disbursement and deposit activity. Our financing activities
during 2015 included net repayments under the revolving line of credit facility of $12.6 million. Our financing activities during
2014 included net repayments under the revolving line of credit facility of $2.1 million. Our financing activities during 2013
included net borrowings under the revolving line of credit facility of $14.9 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Borrowings and External Sources of Funds</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our borrowings and external sources of funds were as follows
at December 31, 2015 and 2014:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">December 31</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">($ in millions)</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Revolving credit facility</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">23.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">36.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less current maturities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net long-term debt</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">23.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">36.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We continually evaluate our external credit arrangements in
light of our growth strategy and new opportunities. In December 2014, we amended and restated our financing agreement with PNC
bank to provide a $75 million credit facility. The term of the amended credit facility is five years and the interest rate is
currently LIBOR plus 1.25%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We lease certain machinery, shoe centers, and manufacturing
facilities under operating leases that generally provide for renewal options. Future minimum lease payments under non-cancelable
operating leases are $1.2 million, $1.1 million, $0.6 million and $0.1 million for years 2016 through 2019, respectively, or approximately
$3.0 million in total.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Contractual Obligations and Commercial Commitments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes our contractual obligations at
December 31, 2015 resulting from financial contracts and commitments. We have not included information on our recurring purchases
of materials for use in our manufacturing operations. These amounts are generally consistent from year to year, closely reflect
our levels of production, and are not long-term in nature (less than three months).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Contractual Obligations at December 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" NOWRAP STYLE="font-weight: bold; text-align: center">Payments due by Year</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" NOWRAP STYLE="font-weight: bold; text-align: center">$ millions</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Less Than<BR>
 1 Year</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1-3 Years</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3-5 Years</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5<BR>
 Years</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Long-term debt</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">23.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">23.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Minimum operating lease commitments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Minimum royalty commitments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Expected cash requirements for interest (1)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3.3</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total contractual obligations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">24.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Assumes a 3.50% interest rate, which is the highest rate
possible as of December 31, 2015 on the $75 million revolving credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, we enter into purchase
commitments with our suppliers under customary purchase order terms. Any significant losses implicit in these contracts would be
recognized in accordance with generally accepted accounting principles. At December 31, 2015, no such losses existed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our ongoing business activities continue to be subject to compliance
with various laws, rules and regulations as may be issued and enforced by various federal, state and local agencies. With respect
to environmental matters, costs are incurred pertaining to regulatory compliance. Such costs have not been, and are not anticipated
to become, material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are contingently liable with respect to lawsuits, taxes and
various other matters that routinely arise in the normal course of business. We do not have off-balance sheet arrangements, financings,
or other relationships with unconsolidated entities or other persons, also known as &ldquo;Variable Interest Entities.&rdquo; Additionally,
we do not have any related party transactions that materially affect the results of operations, cash flow or financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inflation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our financial performance is influenced by factors such as higher
raw material costs as well as higher salaries and employee benefits. Management attempts to minimize or offset the effects of inflation
through increased selling prices, productivity improvements, and cost reductions. We were able to mitigate the effects of inflation
during 2015, 2014, and 2013 due to these factors. It is anticipated that any inflationary pressures during 2016 could be offset
through possible price increases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CRITICAL ACCOUNTING POLICIES AND ESTIMATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;Management&rsquo;s Discussion and Analysis of Financial
Condition and Results of Operations&rdquo; discusses our consolidated financial statements, which have been prepared in accordance
with accounting principles generally accepted in the United States. The preparation of these consolidated financial statements
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure
of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues
and expenses during the reporting period. A summary of our significant accounting policies is included in the Notes to Consolidated
Financial Statements included in this Annual Report on Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our management regularly reviews our accounting policies to
make certain they are current and also provide readers of the consolidated financial statements with useful and reliable information
about our operating results and financial condition. These include, but are not limited to, matters related to accounts receivable,
inventories, intangibles and income taxes. Implementation of these accounting policies includes estimates and judgments by management
based on historical experience and other factors believed to be reasonable. This may include judgments about the carrying value
of assets and liabilities based on considerations that are not readily apparent from other sources. Actual results may differ from
these estimates under different assumptions or conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our management believes the following critical accounting policies
are most important to the portrayal of our financial condition and results of operations and require more significant judgments
and estimates in the preparation of our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Revenue recognition</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Revenue principally consists of sales to customers, and, to
a lesser extent, license fees. Revenue is recognized when goods are shipped and title passes to the customer, while license fees
are recognized when earned. Customer sales are recorded net of allowances for estimated returns, trade promotions and other discounts,
which are recognized as a deduction from sales at the time of sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Accounts receivable allowances</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management maintains allowances for uncollectible accounts for
estimated losses resulting from the inability of our customers to make required payments. If the financial condition of our customers
were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. The allowance
for uncollectible accounts is calculated based on the relative age and status of trade receivable balances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Sales returns and allowances</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We record a reduction to gross sales based on estimated customer
returns and allowances. These reductions are influenced by historical experience, based on customer returns and allowances. The
actual amount of sales returns and allowances realized may differ from our estimates. If we determine that sales returns or allowances
should be either increased or decreased, then the adjustment would be made to net sales in the period in which such a determination
is made. Sales returns and allowances for sales returns were approximately 3.5% of sales for 2015 and 4.1% of sales for 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Inventories</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management identifies slow moving or obsolete inventories and
estimates appropriate loss provisions related to these inventories. Historically, these loss provisions have not been significant
as the vast majority of our inventories are considered saleable and we have been able to liquidate slow moving or obsolete inventories
at amounts above cost through our factory outlet stores or through various discounts to customers. Should management encounter
difficulties liquidating slow moving or obsolete inventories, additional provisions may be necessary. Management regularly reviews
the adequacy of our inventory reserves and makes adjustments to them as required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Intangible assets</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Intangible assets, including goodwill, trademarks and patents
are reviewed for impairment annually, and more frequently, if necessary. We perform such testing of goodwill and indefinite-lived
intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not
reduce the fair value of the asset below its carrying amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In assessing whether indefinite-lived intangible assets are
impaired, we must make certain estimates and assumptions regarding future cash flows, long-term growth rates of our business, operating
margins, weighted average cost of capital and other factors such as; discount rates, royalty rates, cost of capital, and market
multiples to determine the fair value of our assets. These estimates and assumptions require management&rsquo;s judgment, and changes
to these estimates and assumptions could materially affect the determination of fair value and/or impairment for each of our other
indefinite-lived intangible assets. Future events could cause us to conclude that indications of intangible asset impairment exist.
Impairment may result from, among other things, deterioration in the performance of our business, adverse market conditions, adverse
changes in applicable laws and regulations, competition, or the sale or disposition of a reporting segment. Any resulting impairment
loss could have a material adverse impact on our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Income taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management has recorded a valuation allowance to reduce its
deferred tax assets for a portion of state and local income tax net operating losses that it believes may not be realized. We have
considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation
allowance, however, in the event we were to determine that we would not be able to realize all or part of our net deferred tax
assets in the future, an adjustment to the deferred tax assets would be charged to income in the period such determination was
made. At December 31, 2015, approximately $18.3 million of undistributed earnings remains that would become taxable upon repatriation
to the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RECENT FINANCIAL ACCOUNTING PRONOUNCEMENTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Recently Adopted Accounting Pronouncements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2014, the FASB issued ASU No. 2014-08, Presentation
of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures
of Disposals of an Entity. The amendments in this update change the requirements for reporting discontinued operations in Subtopic
205-20. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit
activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued
operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity&rsquo;s operations
and financial results when any of the following occurs: 1. The component of an entity or group of components of an entity meets
the criteria in paragraph 205-20-45-1E to be classified as held for sale. 2. The component of an entity or group of components
of an entity is disposed of by sale. 3. The component of an entity or group of components of an entity is disposed of other than
by sale (for example, by abandonment or in a distribution to owners in a spinoff). The update is effective for all disposals (or
classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15,
2014, and interim periods within those years. The adoption of this standard did not have an effect on our consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Accounting standards not yet adopted</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts
with Customers (Topic 606). The amendments in this update supersede the revenue recognition requirements in Topic 605, Revenue
Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification.
In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition&mdash;Construction-Type and Production-Type
Contracts, and create new Subtopic 340-40, Other Assets and Deferred Costs&mdash;Contracts with Customers. In summary, the core
principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in
an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In
August 2015, the FASB issued ASU No. 2015-14. The amendments in this update defer the effective date of Update 2014-09. Public
business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09
to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period.
Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting
periods within that reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June 2014, the FASB issued ASU No. 2014-12, Compensation
&ndash; Stock Compensation (Topic 718). Some share-based payment awards that require a specific performance target to be achieved
before the employee can benefit from the award, also require an employee to render service until the performance target is achieved.
In some cases, the terms of an award may provide that the performance target could be achieved after an employee completes the
requisite service period. That is, the employee would be entitled to benefit from the award regardless of whether the employee
is rendering service on the date the performance target is achieved. Some entities account for those performance targets as performance
conditions that affect the vesting of the award and, therefore, do not reflect the performance target in the estimate of the grant-date
fair value. Others treat them as nonvesting conditions that affect the grant-date fair value of the award. The amendments apply
to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance
target can be achieved after the requisite service period. The update is effective for public entities for annual reporting periods
beginning after December 15, 2015. Early adoption is permitted. We have not yet determined the impact this ASU will have on our
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In August 2014, the FASB issued ASU No. 2014-15, Presentation
of Financial Statements &ndash; Going Concern (Subtopic 205-40). Currently, there is no guidance in GAAP about management&rsquo;s
responsibility to evaluate whether there is substantial doubt about an entity&rsquo;s ability to continue as a going concern or
to provide related footnote disclosures. The amendments in this update provide that guidance. In doing so, the amendments should
reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity&rsquo;s
ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing
standards. Specifically, the amendments (1) provide a definition of the term <I>substantial doubt, </I>(2) require an evaluation
every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management&rsquo;s
plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management&rsquo;s
plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment
for a period of one year after the date that the financial statements are issued (or available to be issued). The update is effective
for public entities for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We have not yet
determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In January 2015, the FASB issued ASU No. 2015-01, Income Statement
&ndash; Extraordinary and Unusual Items (Subtopic 225-20). The objective of this update is to simplify the income statement presentation
requirements in Subtopic 225-20 by eliminating the concept of extraordinary items. Extraordinary items are events and transactions
that are distinguished by their unusual nature and by the infrequency of their occurrence. Eliminating the extraordinary classification
simplifies income statement presentation by altogether removing the concept of extraordinary items from consideration. The amendments
in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015.
A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to
all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from
the beginning of the fiscal year of adoption. We have not yet determined the impact this ASU will have on our consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2015, the FASB issued ASU No. 2015-03, Interest &ndash;
Imputation of Interest (Subtopic 835-30). The objective of this update is to simplify presentation of debt issuance costs, the
amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet
as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement
guidance for debt issuance costs are not affected by the amendments in this update. The amendments in this update are effective
for fiscal years beginning after December 15, 2015. Early adoption of the amendments in this Update is permitted for financial
statements that have not been previously issued. An entity should apply the new guidance on a retrospective basis, wherein the
balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new
guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle.
These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description
of the prior-period information that has been retrospectively adjusted, and the effect of the change on the financial statement
line items (that is, debt issuance cost asset and the debt liability). We have not yet determined the impact this ASU will have
on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic
330). The amendments in this Update require an entity to measure inventory within the scope of this Update at the lower of cost
and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably
predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using
LIFO or the retail inventory method. The amendments in this Update more closely align the measurement of inventory in GAAP with
the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments
in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal
years. The amendments in this Update should be applied prospectively with earlier application permitted as of the beginning of
an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In November 2015, the FASB issued ASU No. 2015-17, Income Taxes
- Balance Sheet Classification of Deferred Taxes (Topic 740). The amendments in this Update will simplify the presentation of deferred
income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified
statement of financial position. The amendments in this Update apply to all entities that present a classified statement of financial
position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and
presented as a single amount is not affected by the amendments in this Update. For public business entities, the amendments in
this Update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods
within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting
period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic
842). The amendments in this Update will require lessees to recognize (with the exception of short-term leases) a lease liability,
which is a lessee&lsquo;s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use
asset, which is an asset that represents the lessee&rsquo;s right to use, or control the use of, a specified asset for the lease
term. Under the new guidance, lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale
and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. For public business entities,
the amendments in this Update are effective for years beginning after December 15, 2018, including interim periods within those
fiscal years. Earlier application is permitted for all entities upon issuance. We have not yet determined the impact this ASU will
have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES REFORM
ACT OF 1995</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Management&rsquo;s Discussion and Analysis of Financial
Conditions and Results of Operations contains forward-looking statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of 1933, 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 our and management&rsquo;s
intent, belief, expectations, such as statements concerning our future profitability and our operating and growth strategy. Words
such as &ldquo;believe,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;expect,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;should,&rdquo;
&ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;estimate,&rdquo; &ldquo;predict,&rdquo; &ldquo;potential,&rdquo; &ldquo;continue,&rdquo;
&ldquo;likely&rdquo; and similar expressions are intended to identify forward-looking statements. Investors are cautioned that
all forward-looking statements involve risk and uncertainties including, without limitations, dependence on sales forecasts, changes
in consumer demand, seasonality, impact of weather, competition, reliance on suppliers, changing retail trends, economic changes,
as well as other factors set forth under the caption &ldquo;Item 1A, Risk Factors&rdquo; in this Annual Report on Form 10-K and
other factors detailed from time to time in our filings with the Securities and Exchange Commission. Although we believe that the
assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate.
Therefore, there can be no assurance that the forward-looking statements included herein will prove to be accurate. In light of
the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should
not be regarded as a representation by us or any other person that our objectives and plans will be achieved. We assume no obligation
to update any forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_012"></A>ITEM 7A.</B></TD><TD STYLE="text-align: justify"><B>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our primary market risk results from fluctuations in interest
rates. We are also exposed to changes in the price of commodities used in our manufacturing operations. However, commodity price
risk related to the Company's current commodities is not material as price changes in commodities can generally be passed along
to the customer. We do not hold any market risk sensitive instruments for trading purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following item is market rate sensitive for interest rates
for the Company: long-term debt consisting of a credit facility (as described below) with a balance at December 31, 2015 of $23.7
million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In October 2010, we entered into a financing agreement with
PNC Bank (&ldquo;PNC&rdquo;) to provide a $70 million credit facility. In December 2014, we amended and restated the credit facility
to increase the facility to $75 million and extend the term of the facility an additional five years. The current interest rate
is generally LIBOR plus 1.25%. The remainder of the terms of the original agreement did not substantially change in the amended
and restated agreement. The amended and restated credit facility matures in November 2019. We have no other long-term debt maturities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We do not have any interest rate management agreements as of
December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_013"></A>ITEM 8.</B></TD><TD STYLE="text-align: justify"><B>FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our consolidated balance sheets as of December 31, 2015 and
2014 and the related consolidated statements of comprehensive income, shareholders&rsquo; equity, and cash flows for the years
ended December 31, 2015, 2014 and 2013, together with the report of the independent registered public accounting firm thereon appear
on pages F-1 through F-25 hereof and are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_014"></A>ITEM 9.</B></TD><TD STYLE="text-align: justify"><B>CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -68.65pt">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_015"></A>ITEM 9A.</B></TD><TD STYLE="text-align: justify"><B>CONTROLS AND PROCEDURES.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Evaluation of Disclosure Controls and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the end of the period covered by this report, our management
carried out an evaluation, with the participation of our principal executive officer and principal financial officer, of the effectiveness
of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange
Act of 1934, as amended). Based upon that evaluation, our principal executive officer and principal financial officer concluded
that our disclosure controls and procedures were effective as of the end of the period covered by this report. It should be noted
that the design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and
there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless
of how remote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Changes in Internal Control over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As part of our evaluation of the effectiveness of internal controls
over financial reporting described below, we made certain improvements to our internal controls. However, there were no changes
in our internal controls over financial reporting that occurred during our most recent fiscal quarter that have materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -68.65pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Management&rsquo;s Report on Internal Control over Financial
Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our management is responsible for establishing and maintaining
adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) under the Exchange Act. Because of
its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to risk that controls may become inadequate because of changes
in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Under the supervision and with
the participation of our principal executive officer and principal financial officer, our management conducted an evaluation of
the effectiveness of our internal control over financial reporting based on the framework in <I>Internal Control-Integrated Framework
(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)</I>. Based upon that evaluation under
the framework in <I>Internal Control &ndash; Integrated Framework (2013)</I>, our management concluded that our internal control
over financial reporting was effective as of December 31, 2015. Schneider Downs &amp; Co., Inc., our independent registered public
accounting firm has issued an attestation report on the effectiveness of our internal controls over financial reporting which is
included on the following page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Board of Directors and Shareholders of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rocky Brands, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nelsonville, Ohio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have audited Rocky Brands, Inc. and Subsidiaries&rsquo; (the
Company) internal control over financial reporting as of December 31, 2015, based on criteria established in <I>Internal Control-Integrated
Framework (2013)</I> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company&rsquo;s
management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness
of internal control over financial reporting included in the accompanying Management&rsquo;s Report on Internal Control Over Financial
Reporting. Our responsibility is to express an opinion on the Company&rsquo;s internal control over financial reporting based on
our audit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We conducted our audit in accordance with the standards of the
Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.
Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting,
assessing the risk that a material weakness exists and testing and evaluating the design and operating effectiveness of internal
control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the
circumstances. We believe that our audit provides a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A company&rsquo;s internal control over financial reporting
is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles. A company&rsquo;s internal control
over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations
of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company&rsquo;s assets that could have a material effect on the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject
to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In our opinion, the Company maintained, in all material respects,
effective internal control over financial reporting as of December 31, 2015, based on criteria established in <I>Internal Control-Integrated
Framework (2013)</I> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have also audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States), the consolidated balance sheets and the related consolidated statements
of comprehensive income, shareholders&rsquo; equity, and cash flows of the Company, and our report dated March 3, 2016 expressed
an unqualified opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Schneider Downs &amp; Co., Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Columbus, Ohio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 3, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>





<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_016"></A>ITEM 9B.</B></TD><TD STYLE="text-align: justify"><B>OTHER INFORMATION</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_017"></A><B>PART III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_018"></A>ITEM 10.</B></TD><TD STYLE="text-align: justify"><B>DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</B>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this item is included under the
captions &ldquo;ELECTION OF DIRECTORS&rdquo; and &ldquo;INFORMATION CONCERNING THE BOARD OF DIRECTORS AND CORPORATE GOVERNANCE,&rdquo;
INFORMATION CONCERNING EXECUTIVE OFFICERS,&rdquo; and &ldquo;SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE&rdquo; in
the Company's Proxy Statement for the 2016 Annual Meeting of Shareholders (the &ldquo;Proxy Statement&rdquo;) to be held on May
11, 2016, to be filed with the Securities and Exchange Commission pursuant to Regulation 14A promulgated under the Securities Exchange
Act of 1934, is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_019"></A>ITEM 11.</B></TD><TD STYLE="text-align: justify"><B>EXECUTIVE COMPENSATION</B>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this item is included under the
captions &ldquo;EXECUTIVE COMPENSATION&rdquo; and &ldquo;COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION&rdquo; in
the Company's Proxy Statement, and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><A NAME="a_020"></A><B>ITEM 12.</B></TD><TD STYLE="text-align: justify"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED SHAREHOLDER MATTERS</B>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this item is included under the
caption &ldquo;PRINCIPAL HOLDERS OF VOTING SECURITIES - OWNERSHIP OF COMMON STOCK BY MANAGEMENT,&rdquo; &ldquo;- OWNERSHIP OF COMMON
STOCK BY PRINCIPAL SHAREHOLDERS,&rdquo; and &ldquo;EQUITY COMPENSATION PLAN INFORMATION,&rdquo; in the Company's Proxy Statement,
and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><A NAME="a_021"></A><B>ITEM 13.</B></TD><TD STYLE="text-align: justify"><B>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
INDEPENDENCE.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this item is included under the
caption &ldquo;COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION COMPENSATION COMMITTEE&rdquo; and INTERLOCKS AND INSIDER
PARTICIPATION/RELATED PARTY TRANSACTIONS&rdquo; in the Company's Proxy Statement, and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><A NAME="a_022"></A><B>ITEM 14.</B></TD><TD STYLE="text-align: justify"><B>PRINCIPAL ACCOUNTING FEES AND SERVICES.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this item is included under the
caption &ldquo;REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS&rdquo; in the Company&rsquo;s Proxy Statement, and is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><A NAME="a_023"></A>PART IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B><A NAME="a_024"></A>ITEM 15.</B></TD><TD STYLE="text-align: justify"><B>EXHIBITS AND FINANCIAL STATEMENT SCHEDULES</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">THE FOLLOWING DOCUMENTS ARE FILED AS PART OF THIS REPORT:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>The following Financial Statements are included in this Annual Report on Form 10-K on the pages indicated below:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 88%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%"><FONT STYLE="font-size: 10pt">Report of Independent Registered Public Accounting Firm</FONT></TD>
    <TD STYLE="width: 10%; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">F-1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Consolidated Balance Sheets as of December 31, 2015 and 2014</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">F-2 - F-3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Consolidated Statements of Comprehensive Income for the years ended</FONT> <FONT STYLE="font-size: 10pt">December
    31, 2015, 2014, and 2013</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">F-4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Consolidated Statements of Shareholders' Equity for the</FONT> <FONT STYLE="font-size: 10pt">years
    ended December 31, 2015, 2014, and 2013</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">F-5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Consolidated Statements of Cash Flows for the years ended</FONT> <FONT STYLE="font-size: 10pt">December
    31, 2015, 2014, and 2013</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">F-6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Notes to Consolidated Financial Statements for the years ended</FONT> <FONT STYLE="font-size: 10pt">December
    31, 2015, 2014, and 2013</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">F-7 - F-25</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>The following financial statement schedule for the years ended December 31, 2015, 2014, and 2013 is included in this Annual
Report on Form 10-K and should be read in conjunction with the Consolidated Financial Statements contained in the Annual Report.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Schedule II -- Consolidated Valuation and
Qualifying Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Schedules not listed above are omitted because of
the absence of the conditions under which they are required or because the required information is included in the Consolidated
Financial Statements or the notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Exhibits<B>: </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Number</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Second Amended and Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2006).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amendment to Company&rsquo;s Second Amended and Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.2 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2006).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">3.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amended and Restated Code of Regulations of the Company (incorporated by reference to Exhibit 3.2 to the Registration Statement on Form S-1, registration number 33-56118 (the &ldquo;Registration Statement&rdquo;)).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Stock Certificate for the Company (incorporated by reference to Exhibit 4.1 to the Registration Statement).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Articles Fourth, Fifth, Sixth, Seventh, Eighth, Eleventh, Twelfth, and Thirteenth of the Company's Amended and Restated Articles of Incorporation (see Exhibit 3.1).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Articles I and II of the Company's Code of Regulations (see Exhibit 3.3).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%"><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-size: 10pt">Amended and Restated Rights Agreement dated as of June 7, 2012, by and between the Company and the Computershare Trust Company, N.A., as Rights Agent (incorporated by reference to the Company&rsquo;s Current Report on Form 8-K filed on June 12, 2012).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amendment No. 1 to the Amended and Restated Rights Agreement, dated as of June 7, 2012, by and between the Company and Computershare Trust Company, N.A., as Rights Agent (incorporated by reference to the Company&rsquo;s Current Report on Form 8-K filed on August 19, 2015).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Deferred Compensation Agreement, dated May 1, 1984, between Rocky Shoes &amp; Boots Co. and Mike Brooks (incorporated by reference to Exhibit 10.3 to the Registration Statement).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Information concerning Deferred Compensation Agreements substantially similar to Exhibit 10.1 (incorporated by reference to Exhibit 10.4 to the Registration Statement).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Indemnification Agreement, dated December 12, 1992, between the Company and Mike Brooks (incorporated by reference to Exhibit 10.10 to the Registration Statement).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Information concerning Indemnification Agreements substantially similar to Exhibit 10.3&nbsp;&nbsp;(incorporated by reference to Exhibit 10.8 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2005).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amended and Restated Lease Agreement, dated March 1, 2002, between Rocky Shoes &amp; Boots Co. and William Brooks Real Estate Company regarding Nelsonville factory (incorporated by reference to Exhibit 10.11 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Lease Contract dated December 16, 1999, between Lifestyle Footwear, Inc. and The Puerto Rico Industrial Development Company (incorporated by reference to Exhibit 10.14 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2004).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.7</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Company&rsquo;s 2004 Stock Incentive Plan (incorporated by reference to the Company&rsquo;s Definitive Proxy Statement for the 2004 Annual Meeting of Shareholders, held on May 11, 2004, filed on April 6, 2004).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.8</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Company&rsquo;s 2014 Omnibus Incentive Plan (incorporated by reference to the Company&rsquo;s Definitive Proxy Statement for the 2015 Annual Meeting of Shareholders, held on May 7, 2015, filed on April 7, 2014).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.9</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Renewal of Lease Contract, dated June 24, 2004, between Five Star Enterprises Ltd. and the Dominican Republic Corporation for Industrial Development (incorporated by reference to Exhibit 10.20 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2004).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.10</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Second Amendment to Lease Agreement, dated as of July 26, 2004, between Rocky Shoes &amp; Boots, Inc. and the William Brooks Real Estate Company (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended September 30, 2004).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.11</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Option Award Agreement under the Company&rsquo;s 2004 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K dated January 3, 2005, filed with the Securities and Exchange Commission on January 7, 2005).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.12</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Restricted Stock Award Agreement relating to the Retainer Shares issued under the Company&rsquo;s 2004 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K dated January 3, 2005, filed with the Securities and Exchange Commission on January 7, 2005).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.13</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amendment to the Rocky Brands, Inc. Agreement with J. Michael Brooks (dated April 16, 1985), dated December 22, 2008 (incorporated by reference to Exhibit 10.35 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2008).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%"><FONT STYLE="font-size: 10pt">10.14</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-size: 10pt">First Amendment to the Rocky Brands, Inc. 2004 Stock Incentive Plan, dated December 30, 2008 (incorporated by reference to Exhibit 10.36 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2008).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.15</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, dated June 12, 2008, between the Company and Mike Brooks (incorporated by reference to Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K dated June 12, 2009, filed with the Securities and Exchange Commission on June 18, 2009).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.16</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, dated June 12, 2008, between the Company and David Sharp (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K dated June 12, 2009, filed with the Securities and Exchange Commission on June 18, 2009).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.17</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, dated June 12, 2008, between the Company and James E. McDonald (incorporated by reference to Exhibit 10.3 to the Company&rsquo;s Current Report on Form 8-K dated June 12, 2009, filed with the Securities and Exchange Commission on June 18, 2009).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.18</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amended and Restated Revolving Credit, Term Loan, Guaranty, and Security Agreement dated as of December 19, 2014 among Rocky Brands, Inc., Lehigh Outfitters, LLC, Lifestyle Footwear, Inc., Rocky Brands Wholesale LLC, Rocky Brands International, LLC, Rocky Brands Canada, Inc., Creative Recreation, LLC, Creative Recreation Retail, LLC, Creative Recreation International, LLC, the lenders party thereto, and PNC Bank, National Association, as agent for lenders (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K dated December 19, 2014, filed with the Securities and Exchange Commission on December 23, 2014).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.19</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Description of Material Terms of Rocky Brands, Inc.&rsquo;s Bonus Plan for Fiscal Year Ending December 31, 2013 (incorporated by reference to Exhibit 10.19 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2012).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.20</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Description of Material Terms of Rocky Brands, Inc.&rsquo;s Bonus Plan for Fiscal Year Ending December 31, 2013 (incorporated by reference to Exhibit 10.19 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2012).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.21</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Description of Material Terms of Rocky Brands, Inc.&rsquo;s Bonus Plan for Fiscal Year Ending December 31, 2013 (incorporated by reference to Exhibit 10.19 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2012).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.22</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Description of Material Terms of Rocky Brands, Inc.&rsquo;s Bonus Plan for Fiscal Year Ending December 31, 2014 (incorporated by reference to Exhibit 10.21 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.23</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Company&rsquo;s Incentive Compensation Plan (incorporated by reference to the Company&rsquo;s Definitive Proxy Statement for the 2012 Annual Meeting of Shareholders).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.24</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Form of Restricted Stock Unit Award Agreement (incorporated
        by reference to Exhibit 10.23 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.25</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Performance Stock Unit Award Agreement (incorporated by reference to Exhibit 10.24 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.26</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, effective as of January 2, 2014, between the Company and Mike Brooks (incorporated by reference to Exhibit 10.25 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.27</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, effective as of January 2, 2014, between the Company and David Sharp (incorporated by reference to Exhibit 10.26 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.28</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, effective as of January 2, 2014, between the Company and James E. McDonald (incorporated by reference to Exhibit 10.27 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%"><FONT STYLE="font-size: 10pt">10.29</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-size: 10pt">Employment Agreement, effective as of January 2, 2014, between the Company and Gary Adam (incorporated by reference to Exhibit 10.28 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.30</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, effective as of January 2, 2014, between the Company and Jason Brooks (incorporated by reference to Exhibit 10.29 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.31</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Employment Agreement, effective as of January 2, 2014, between the Company and Richard Simms (incorporated by reference to Exhibit 10.30 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2013).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.32</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Option Award Agreement under the Company&rsquo;s 2014 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.33 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.33</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Restricted Stock Unit Award Agreement under the Company&rsquo;s 2014 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.34 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.34</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Performance Stock Unit Award Agreement under the Company&rsquo;s 2014 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.35 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.35*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Amendment No. 1 to Amended and Restated Revolving Credit, Term Loan, Guaranty, and Security Agreement dated as of December 19, 2014 among Rocky Brands, Inc., Lehigh Outfitters, LLC, Lifestyle Footwear, Inc., Rocky Brands Wholesale LLC, Rocky Brands International, LLC, Rocky Brands Canada, Inc., Creative Recreation, LLC, Creative Recreation Retail, LLC, Creative Recreation International, LLC, the lenders party thereto, and PNC Bank, National Association, as agent for lenders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">21*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Subsidiaries of the Company.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">23*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Independent Registered Public Accounting Firm&rsquo;s Consent of Schneider Downs &amp; Co., Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">24*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Powers of Attorney.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">31.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Rule 13a-14(a) Certification of Principal Executive Officer.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">31.2*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Rule 13a-14(a) Certification of Principal Financial Officer.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">32**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1350 Certification of Principal Executive Officer and Principal Financial Officer.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">99*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Financial Statement Schedule.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">101*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attached as Exhibits 101 to this report are the following financial statements from the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2015 formatted in XBRL (&ldquo;eXtensible Business Reporting Language&rdquo;): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Comprehensive Income, (iii) the Consolidated Statements of Cash Flows, and (vi) related notes to these financial statements.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Filed with this Annual Report on Form
10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">** Furnished with this Annual Report on Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_032"></A>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.95pt">Pursuant to the requirements of Section
13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">ROCKY BRANDS, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: March 3, 2016</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ James E. McDonald</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">James E. McDonald, Executive Vice President and Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.95pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities
indicated on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">* David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">and Director (Principal Executive Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">* James E. McDonald</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Vice President and</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">James E. McDonald</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">* Mike Brooks</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Mike Brooks</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">* <FONT STYLE="font-variant: small-caps">Curtis A. Loveland</FONT></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Secretary and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Curtis A. Loveland</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; font-variant: small-caps">* Glenn E. Corlett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Glenn E. Corlett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">* <FONT STYLE="font-variant: small-caps">Michael L. Finn</FONT></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Michael L. Finn</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; font-variant: small-caps">* G. Courtney Haning</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">G. Courtney Haning</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; font-variant: small-caps">* Harley E. Rouda</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Harley E. Rouda</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">* <FONT STYLE="font-variant: small-caps">James L. Stewart</FONT></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">James L. Stewart</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">By: /s/ David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">David N. Sharp, Attorney-in-Fact</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt; text-indent: 2.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase">ROCKY BRANDS, INC.<BR>
AND Subsidiaries</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%"><A HREF="#a_025">Report of Independent Registered Public Accounting Firm</A></TD>
    <TD STYLE="width: 10%; padding-left: 0.25in">F-1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_026">Consolidated Balance Sheets as of December 31, 2015 and 2014</A></TD>
    <TD>F-2 - F-3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_028">Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2015, 2014 and 2013</A></TD>
    <TD STYLE="padding-left: 0.25in">F-4</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_029">Consolidated Statements of Shareholders&rsquo; Equity for the Years Ended &nbsp;&nbsp;December 31, 2015, 2014 and 2013</A></TD>
    <TD STYLE="padding-left: 0.25in">F-5</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_030">Consolidated Statements of Cash Flows for the Years Ended December 31, 2015, 2014 and 2013</A></TD>
    <TD STYLE="padding-left: 0.25in">F-6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_031">Notes to Consolidated Financial Statements</A></TD>
    <TD>F-7 - F-25</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U><A NAME="a_025"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">To the Board of Directors and Shareholders
of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Rocky Brands, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Nelsonville, Ohio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated
balance sheets of Rocky Brands, Inc. and Subsidiaries (the Company) as of December 31, 2015 and 2014, and the related consolidated
statements of comprehensive income, shareholders&rsquo; equity, and cash flows for each of the years in the three-year period ended
December 31, 2015, 2014 and 2013. Our audits also included the financial statement schedule listed in the index at Item 15(a)(2).
The Company&rsquo;s management is responsible for these consolidated financial statements and financial statement schedule. Our
responsibility is to express an opinion on these consolidated financial statements and schedule based on our audits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating
the overall consolidated financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, the consolidated financial
statements referred to above present fairly, in all material respects, the consolidated financial position of the Company as of
December 31, 2015, and 2014, and the results of its operations and its cash flows for each of the years in the three-year period
ended December 31, 2015, 2014 and 2013, in conformity with accounting principles generally accepted in the United States of America.
Also, in our opinion, the related financial statement schedule, when considered in relation to the consolidated financial statements,
as a whole, presents fairly, in all material respects, the information set forth therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also have audited, in accordance with
the standards of the Public Company Accounting Oversight Board (United States), the Company&rsquo;s internal control over financial
reporting as of December 31, 2015, based on criteria established in <I>Internal Control-Integrated Framework (2013)</I> issued
by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated March 3, 2016 expressed an
unqualified opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">/s/ Schneider Downs &amp; Co., Inc.</TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Columbus, Ohio</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">March 3, 2016</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="a_026"></A>ROCKY BRANDS, INC.</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0">AND SUBSIDIARIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">CONSOLIDATED BALANCE SHEETS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CURRENT ASSETS:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 9pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,407,140</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,616,694</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Trade receivables &ndash; net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,549,207</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,807,103</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Other receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">583,479</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">476,480</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">76,991,059</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85,237,042</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Income tax receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128,699</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,031,818</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,291,907</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Prepaid expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,530,517</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,553,442</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">129,221,919</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">149,982,668</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">FIXED ASSETS &ndash; net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,836,527</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,264,641</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">IDENTIFIED INTANGIBLES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,547,873</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,681,644</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">OTHER ASSETS</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">258,812</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">299,490</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">193,865,131</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">213,228,443</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to consolidated financial statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="a_027"></A>ROCKY BRANDS, INC.</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0">AND SUBSIDIARIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">CONSOLIDATED BALANCE SHEETS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CURRENT LIABILITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 9pt">Accounts payable</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,118,555</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">15,116,131</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Accrued expenses:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Salaries and wages</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">442,259</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,773,061</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Taxes - other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">533,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">532,470</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued freight</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">427,412</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">683,482</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in">Commissions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">378,191</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">681,185</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued duty</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,301,449</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,693,223</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Income taxes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,687,535</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.25in">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,547,130</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,042,653</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 27pt">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,748,216</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,209,740</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">LONG TERM DEBT</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,700,089</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,270,373</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">DEFERRED LIABILITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,000,609</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,928,048</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt; padding-bottom: 1pt">Other deferred liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">295,676</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">472,364</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">TOTAL LIABILITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,744,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,880,525</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">COMMITMENTS AND CONTINGENCIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">SHAREHOLDERS' EQUITY:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Preferred stock, Series A, no par value, $.06 stated value;&nbsp;&nbsp;none outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70,882,392</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70,460,672</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Retained earnings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">71,238,149</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">67,887,246</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Total shareholders' equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">142,120,541</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">138,347,918</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">193,865,131</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">213,228,443</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt"><A NAME="a_028"></A>ROCKY BRANDS, INC.</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt">AND SUBSIDIARIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt"><FONT STYLE="font-size: 12pt">CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Years Ended December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">NET SALES</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">269,302,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">286,242,169</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">244,870,731</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">COST OF GOODS SOLD</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">180,410,184</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">189,881,444</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">161,328,280</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">GROSS MARGIN</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,891,839</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,360,725</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">83,542,451</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">OPERATING EXPENSES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Selling, general and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78,402,079</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80,597,934</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,351,688</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Acquisition related expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,172,047</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78,402,079</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80,597,934</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,523,735</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">INCOME FROM OPERATIONS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,489,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,762,791</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,018,716</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">OTHER INCOME AND (EXPENSES):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(696,827</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(943,154</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(688,502</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Gain on bargain purchase</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">601,975</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Other - net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(105,433</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(78,455</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(116,665</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total other - net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(802,260</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,021,609</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(203,192</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">INCOME BEFORE INCOME TAXES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,687,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,741,182</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,815,524</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">INCOME TAX EXPENSE</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,084,343</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,895,884</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,442,768</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">COMPREHENSIVE INCOME</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,603,157</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9,845,298</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,372,756</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>NET INCOME PER SHARE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.87</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.98</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.87</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.98</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">Basic</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,563,205</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,544,936</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,517,364</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,574,172</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,547,781</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,517,364</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to consolidated financial statements</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt"><A NAME="a_029"></A>ROCKY BRANDS, INC.</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt">AND SUBSIDIARIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt"><FONT STYLE="font-size: 12pt">CONSOLIDATED STATEMENTS
OF SHAREHOLDERS' EQUITY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">Common Stock and</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Accumulated</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">Additional Paid-in Capital</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Other</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Total</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Shares</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Comprehensive</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Retained</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Shareholders'</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Outstanding</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Loss</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Earnings</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%">BALANCE - December 31, 2012</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">7,503,568</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">69,694,770</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">55,942,106</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">125,636,876</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>YEAR ENDED DECEMBER 31, 2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,372,756</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,372,756</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Dividends paid on common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,254,935</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,254,935</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Stock compensation expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">32,880</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">458,800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">458,800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">BALANCE - December 31, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,536,448</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">70,153,570</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">61,059,927</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">131,213,497</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>YEAR ENDED DECEMBER 31, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,845,298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,845,298</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Dividends paid on common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,017,979</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,017,979</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Stock compensation expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,678</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">307,102</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">307,102</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">BALANCE - December 31, 2014</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,550,126</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">70,460,672</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">67,887,246</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">138,347,918</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>YEAR ENDED DECEMBER 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,603,157</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,603,157</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Dividends paid on common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,252,254</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,252,254</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Stock issued and options exercised including related tax benefits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,742</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Stock compensation expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,545</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">412,978</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">412,978</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">BALANCE - December 31, 2015</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,567,271</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">70,882,392</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">71,238,149</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">142,120,541</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt"><A NAME="a_030"></A>ROCKY BRANDS, INC.</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt">AND SUBSIDIARIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.65pt"><FONT STYLE="font-size: 12pt">CONSOLIDATED STATEMENTS
OF CASH FLOWS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Years Ended December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CASH FLOWS FROM OPERATING ACTIVITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,603,157</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,845,298</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,372,756</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Adjustments to reconcile net income to net cash provided by operating&nbsp;&nbsp;activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,188,123</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,941,905</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,264,246</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">332,650</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">989,473</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,363</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Loss on disposal of fixed assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138,056</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,293</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Gain on acquisition</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(601,975</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Stock compensation expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">412,978</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">307,102</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">458,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Change in assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,150,897</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,888,027</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,182,751</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,245,983</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,065,372</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,813,065</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Income tax receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(128,699</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">242,228</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(242,228</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,925</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(24,035</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(319,340</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,678</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109,208</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,214</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,004,991</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,004,111</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,779,055</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Accrued and other liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,640,636</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,380,101</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,518,524</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net cash provided by (used in) operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,242,565</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,980,048</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,453,218</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CASH FLOWS FROM INVESTING ACTIVITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Purchase of fixed assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,654,642</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,442,086</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,717,102</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Proceeds from sales of fixed assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,495</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,012</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,625</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Acquisition of business assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,229,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Investment in trademarks and patents</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,176</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,446</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(68,452</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net cash used in investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(8,638,323</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(7,388,520</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,966,929</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CASH FLOWS FROM FINANCING ACTIVITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Proceeds from revolving credit facility</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,423,672</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,190,968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78,622,969</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Repayments on revolving credit facility</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(80,993,956</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(77,308,793</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(63,696,111</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Debt financing costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(54,647</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(58,738</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Proceeds from stock options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Dividends paid on common stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,252,254</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,017,979</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,254,935</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net cash (used in) provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(15,813,796</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,190,451</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,613,185</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,209,554</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">401,077</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">193,038</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CASH AND CASH EQUIVALENTS:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">BEGINNING OF PERIOD</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,616,694</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,215,617</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,022,579</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">END OF PERIOD</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,407,140</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,616,694</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,215,617</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to consolidated financial statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><A NAME="a_031"></A>ROCKY BRANDS, INC.<BR>
AND Subsidiaries</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">FOR THE YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-indent: -23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">1.</TD><TD>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Principles
of Consolidation</I></B></FONT> - The accompanying consolidated financial statements include the accounts of Rocky Brands, Inc.
(&ldquo;Rocky&rdquo;) and its wholly-owned subsidiaries, Lifestyle Footwear, Inc. (&ldquo;Lifestyle&rdquo;), Five Star Enterprises
Ltd. (&ldquo;Five Star&rdquo;), Rocky Canada, Inc. (&ldquo;Rocky Canada&rdquo;), Rocky Brands Wholesale, LLC, Rocky Brands International,
LLC, Lehigh Outfitters, LLC, Creative Recreation, LLC, Creative Recreation International, LLC and Creative Recreation Retail, LLC,
collectively referred to as the &ldquo;Company.&rdquo; All inter-company transactions have been eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Business
Activity</I></B></FONT> - We are a leading designer, manufacturer and marketer of premium quality footwear marketed under a portfolio
of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh and Creative Recreation. Our brands
have a long history of representing high quality, comfortable, functional and durable footwear and our products are organized around
six target markets: outdoor, work, duty, commercial military, western and lifestyle. In addition, as part of our strategy of outfitting
consumers from head-to-toe, we market complementary branded apparel and accessories that we believe leverage the strength and positioning
of each of our brands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Our products are distributed through three distinct
business segments: wholesale, retail and military. In our wholesale business, we distribute our products through a wide range of
distribution channels representing over ten thousand retail store locations in the U.S. and Canada. Our wholesale channels vary
by product line and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass
merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers. Our retail business includes
direct sales of our products to consumers through our e-commerce websites and our Rocky outlet store. We operate four mobile trucks
to service the New York Transit Authority&rsquo;s employees. We also sell footwear under the Rocky label to the U.S. military.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We did not have any single customer account for
more than 10% of consolidated net sales in 2015, 2014 or 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Estimates</I></B> - The preparation of financial
statements in conformity with accounting principles generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results
could differ from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Cash
and Cash Equivalents</I></B></FONT> - We consider all highly liquid investments purchased with original maturities of three months
or less to be cash equivalents. Our cash and cash equivalents are primarily held in five banks. Balances may exceed federally insured
limits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Trade Receivables</I></B> - Trade receivables
are presented net of the related allowance for uncollectible accounts of approximately $820,000 and $1,002,000 at December 31,
2015 and 2014, respectively. The allowance for uncollectible accounts is calculated based on the relative age and status of trade
receivable balances. Our credit policy generally provides that trade receivables will be deemed uncollectible and written-off once
we have pursued all reasonable efforts to collect on the account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Concentration of Credit Risk</I></B> - We
have significant transactions with a large number of customers. No customer represented 10% of trade receivables - net as of December
31, 2015 and 2014. Our exposure to credit risk is impacted by the economic climate affecting the retail shoe industry. We manage
this risk by performing ongoing credit evaluations of our customers and maintain reserves for potential uncollectible accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Supplier and Labor Concentrations</I></B>
- We purchase raw materials from a number of domestic and foreign sources. We currently buy the majority of our waterproof fabric,
a component used in a significant portion of our shoes and boots, from one supplier (W.L. Gore &amp; Associates, Inc.). We have
had a relationship with this supplier for over 20 years and have no reason to believe that such relationship will not continue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We produce a portion of our shoes and boots in our
Dominican Republic operation and in our Puerto Rico operation. We are not aware of any governmental or economic restrictions that
would alter these current operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We source a significant portion of our footwear,
apparel and gloves from manufacturers in the Far East, primarily China. We are not aware of any governmental or economic restrictions
that would alter our current sourcing operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Inventories</I></B></FONT>
- Inventories are valued at the lower of cost, determined on a first-in, first-out (FIFO) basis, or market. Reserves are established
for inventories when the net realizable value (NRV) is deemed to be less than its cost based on our periodic estimates of NRV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Fixed
Assets</I></B></FONT> - The Company records fixed assets at historical cost and generally utilizes the straight-line method of
computing depreciation for financial reporting purposes over the estimated useful lives of the assets as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.75in">
<TR>
    <TD STYLE="vertical-align: top; width: 71%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 29%; text-decoration: underline; text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><U STYLE="text-decoration: none">Years</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Buildings and improvements</TD>
    <TD STYLE="text-align: center; font-size: 10pt">5-40</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Machinery and equipment</TD>
    <TD STYLE="text-align: center; font-size: 10pt">3-8</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Furniture and fixtures</TD>
    <TD STYLE="text-align: center; font-size: 10pt">3-8</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Lasts, dies, and patterns</TD>
    <TD STYLE="text-align: center; font-size: 10pt">3</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">For income tax purposes, the Company generally computes
depreciation utilizing accelerated methods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><B><I>Identified intangible assets</I></B> - Identified
intangible assets consist of indefinite lived trademarks and definite lived trademarks, patents and customer lists. Indefinite
lived intangible assets are not amortized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">If events or circumstances change, a determination
is made by management, in accordance with the accounting standard for &ldquo;Property, Plant and Equipment&rdquo; to ascertain
whether property, equipment and certain finite-lived intangibles have been impaired based on the sum of expected future undiscounted
cash flows from operating activities. If the estimated net cash flows are less than the carrying amount of such assets, we will
recognize an impairment loss in an amount necessary to write down the assets to fair value as determined from expected future discounted
cash flows.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In accordance with the accounting standard for &ldquo;Intangibles
&ndash; Goodwill and Other&rdquo;, we test intangible assets with indefinite lives for impairment annually or when conditions indicate
impairment may have occurred. We perform such testing of our indefinite-lived intangible assets in the fourth quarter of each year
or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its
carrying amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Advertising</I></B> - We expense advertising
costs as incurred. Advertising expense was approximately $9,869,000, $8,623,000, and $8,038,000 for 2015, 2014 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Revenue Recognition</I></B> -<B><I> </I></B>Revenue
and related cost of goods sold are recognized at the time products are shipped to the customer and title transfers. Revenue is
recorded net of estimated sales discounts and returns based upon specific customer agreements and historical trends. Net sales
include royalty income from licensing our brands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Shipping Costs</I></B> - In accordance with
the accounting standard for revenue recognition, all shipping costs billed to customers have been included in net sales. All outbound
shipping costs to customers has been included in selling, general and administrative costs and totaled approximately $8,500,000,
$9,254,000 and $8,294,000 in 2015, 2014 and 2013, respectively. Our gross profit may not be comparable to other entities whose
shipping and handling is a component of cost of sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Per Share Information</I></B> - Basic net
income per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted
net income per common share is computed similarly but includes the dilutive effect of stock options. A reconciliation of the shares
used in the basic and diluted income per share computations is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">Years Ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%">Basic - weighted average shares outstanding</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">7,563,205</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">7,544,936</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">7,517,364</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dilutive restricted share units</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,987</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,845</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Dilutive stock options</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">980</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Diluted - weighted average shares outstanding</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,574,172</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,547,781</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,517,364</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Anti-Dilutive securities - stock options</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">84,210</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">43,029</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,630</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Comprehensive Income</I></B> - Comprehensive
income includes changes in equity that result from transactions and economic events from non-core operations. Comprehensive income
is composed of two subsets &ndash; net income and other comprehensive income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Fair Value Measurements</I></B> &ndash; The
fair value accounting standard defines fair value, establishes a framework for measuring fair value, and expands disclosures about
fair value measurements. This standard clarifies how to measure fair value as permitted under other accounting pronouncements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The fair value accounting standard defines fair
value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal
or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement
date. This standard also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value.
This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three
levels of inputs used to measure fair value are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.45in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Level 1 &ndash; Quoted prices in active markets for identical assets or liabilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.45in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Level 2 &ndash; Observable inputs other than quoted market prices included in Level 1, such as quoted prices for similar assets
and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active;
or other inputs that are observable or can be corroborated by observable market data.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.45in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Level 3 &ndash; Unobservable inputs that are supported by little or no market activity and that are significant to the fair
value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques
that use significant unobservable inputs.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">The fair values of cash, accounts receivable, other
receivables and accounts payable approximated their carrying values because of the short-term nature of these instruments. Accounts
receivable consists primarily of amounts due from our customers, net of allowances. Other receivables consist primarily of amounts
due from employees (sales persons&rsquo; advances in excess of commissions earned and employee travel advances); other customer
receivables, net of allowances; and expected insurance recoveries. The carrying amounts of our revolving line of credit and other
short-term financing obligations also approximate fair value, as they are comparable to the available financing in the marketplace
during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Recently Adopted Accounting Pronouncements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In April 2014, the FASB issued ASU No. 2014-08, Presentation
of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures
of Disposals of an Entity. The amendments in this update change the requirements for reporting discontinued operations in Subtopic
205-20. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit
activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued
operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity&rsquo;s operations
and financial results when any of the following occurs: 1. The component of an entity or group of components of an entity meets
the criteria in paragraph 205-20-45-1E to be classified as held for sale. 2. The component of an entity or group of components
of an entity is disposed of by sale. 3. The component of an entity or group of components of an entity is disposed of other than
by sale (for example, by abandonment or in a distribution to owners in a spinoff). The update is effective for all disposals (or
classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15,
2014, and interim periods within those years. The adoption of this standard did not have an effect on our consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt"><B><I>Accounting standards not yet adopted</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In May 2014, the FASB issued ASU No. 2014-09, Revenue
from Contracts with Customers (Topic 606). The amendments in this update supersede the revenue recognition requirements in Topic
605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification.
In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition&mdash;Construction-Type and Production-Type
Contracts, and create new Subtopic 340-40, Other Assets and Deferred Costs&mdash;Contracts with Customers. In summary, the core
principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in
an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In
August 2015, the FASB issued ASU No. 2015-14. The amendments in this update defer the effective date of Update 2014-09. Public
business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09
to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period.
Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting
periods within that reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In June 2014, the FASB issued ASU No. 2014-12, Compensation
&ndash; Stock Compensation (Topic 718). Some share-based payment awards that require a specific performance target to be achieved
before the employee can benefit from the award, also require an employee to render service until the performance target is achieved.
In some cases, the terms of an award may provide that the performance target could be achieved after an employee completes the
requisite service period. That is, the employee would be entitled to benefit from the award regardless of whether the employee
is rendering service on the date the performance target is achieved. Some entities account for those performance targets as performance
conditions that affect the vesting of the award and, therefore, do not reflect the performance target in the estimate of the grant-date
fair value. Others treat them as nonvesting conditions that affect the grant-date fair value of the award. The amendments apply
to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance
target can be achieved after the requisite service period. The update is effective for public entities for annual reporting periods
beginning after December 15, 2015. Early adoption is permitted. We have not yet determined the impact this ASU will have on our
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In August 2014, the FASB issued ASU No. 2014-15,
Presentation of Financial Statements &ndash; Going Concern (Subtopic 205-40). Currently, there is no guidance in GAAP about management&rsquo;s
responsibility to evaluate whether there is substantial doubt about an entity&rsquo;s ability to continue as a going concern or
to provide related footnote disclosures. The amendments in this update provide that guidance. In doing so, the amendments should
reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity&rsquo;s
ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing
standards. Specifically, the amendments (1) provide a definition of the term <I>substantial doubt, </I>(2) require an evaluation
every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management&rsquo;s
plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management&rsquo;s
plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment
for a period of one year after the date that the financial statements are issued (or available to be issued). The update is effective
for public entities for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We have not yet
determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In January 2015, the FASB issued ASU No. 2015-01,
Income Statement &ndash; Extraordinary and Unusual Items (Subtopic 225-20). The objective of this update is to simplify the income
statement presentation requirements in Subtopic 225-20 by eliminating the concept of extraordinary items. Extraordinary items are
events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence. Eliminating
the extraordinary classification simplifies income statement presentation by altogether removing the concept of extraordinary items
from consideration. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years,
beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply
the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided
that the guidance is applied from the beginning of the fiscal year of adoption. We have not yet determined the impact this ASU
will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In April 2015, the FASB issued ASU No. 2015-03, Interest
&ndash; Imputation of Interest (Subtopic 835-30). The objective of this update is to simplify presentation of debt issuance costs,
the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance
sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and
measurement guidance for debt issuance costs are not affected by the amendments in this update. The amendments in this update are
effective for fiscal years beginning after December 15, 2015. Early adoption of the amendments in this Update is permitted for
financial statements that have not been previously issued. An entity should apply the new guidance on a retrospective basis, wherein
the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the
new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle.
These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description
of the prior-period information that has been retrospectively adjusted, and the effect of the change on the financial statement
line items (that is, debt issuance cost asset and the debt liability). We have not yet determined the impact this ASU will have
on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In July 2015, the FASB issued ASU No. 2015-11, Inventory
(Topic 330). The amendments in this Update require an entity to measure inventory within the scope of this Update at the lower
of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less
reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured
using LIFO or the retail inventory method. The amendments in this Update more closely align the measurement of inventory in GAAP
with the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments
in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal
years. The amendments in this Update should be applied prospectively with earlier application permitted as of the beginning of
an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In November 2015, the FASB issued ASU No. 2015-17,
Income Taxes - Balance Sheet Classification of Deferred Taxes (Topic 740). The amendments in this Update will simplify the presentation
of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent
in a classified statement of financial position. The amendments in this Update apply to all entities that present a classified
statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of
an entity be offset and presented as a single amount is not affected by the amendments in this Update. For public business entities,
the amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2016,
and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim
or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In February 2016, the FASB issued ASU No. 2016-02,
Leases (Topic 842). The amendments in this Update will require lessees to recognize (with the exception of short-term leases) a
lease liability, which is a lessee&lsquo;s obligation to make lease payments arising from a lease, measured on a discounted basis;
and a right-of-use asset, which is an asset that represents the lessee&rsquo;s right to use, or control the use of, a specified
asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. The new lease guidance simplified the
accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. For
public business entities, the amendments in this Update are effective for years beginning after December 15, 2018, including interim
periods within those fiscal years. Earlier application is permitted for all entities upon issuance. We have not yet determined
the impact this ASU will have on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt; text-align: left">2.</TD><TD STYLE="text-align: justify">INVENTORIES</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Inventories are comprised of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Raw materials</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">12,494,980</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">11,702,762</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Work-in-process</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,155,837</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">577,127</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Finished goods</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">63,340,242</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">72,957,153</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">76,991,059</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">85,237,042</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">3.</TD><TD>IDENTIFIED INTANGIBLE ASSETS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">A schedule of identified intangible assets is as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 30pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Gross</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Accumulated</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Carrying</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">December 31, 2015</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortization</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Trademarks</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; padding-left: 9pt">Wholesale</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32,343,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32,343,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Retail</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Patents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,595,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,324,515</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">270,962</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Customer Relationships</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,200,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,166,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,033,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Total Intangibles</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">40,039,055</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,491,182</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">36,547,873</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 30pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Gross</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Accumulated</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Carrying</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">December 31, 2014</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortization</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Trademarks</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; padding-left: 9pt">Wholesale</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32,343,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32,343,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Retail</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Patents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,594,301</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,269,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">324,732</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Customer Relationships</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,200,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,086,666</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,113,334</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Total Intangibles</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">40,037,879</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,356,235</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">36,681,644</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">Amortization expense related to finite-lived intangible
assets was approximately $135,000, $135,000 and $60,000 in 2015, 2014 and 2013, respectively. Such amortization expense will be
approximately $121,000 per year for 2016 through 2020. The increase in 2015 and 2014 was attributed to the additional amortization
related to the additional customer relationship from the acquisition of the Creative Recreation business as noted in Note 15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">The weighted average lives of patents and customer
relationships are 6 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">Intangible assets, including trademarks and patents
are reviewed for impairment annually, and more frequently, if necessary. We perform such testing of indefinite-lived intangible
assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the
fair value of the asset below its carrying amount. Fair value of other indefinite-lived intangible assets is determined using the
relief from royalty method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In assessing whether indefinite-lived intangible
assets are impaired, we must make certain estimates and assumptions regarding future cash flows, long-term growth rates of our
business, operating margins, weighted average cost of capital and other factors such as; discount rates, royalty rates, cost of
capital, and market multiples to determine the fair value of our assets. These estimates and assumptions require management&rsquo;s
judgment, and changes to these estimates and assumptions could materially affect the determination of fair value and/or impairment
for each of our indefinite-lived intangible assets. Future events could cause us to conclude that indications of intangible asset
impairment exist. Impairment may result from, among other things, deterioration in the performance of our business, adverse market
conditions, adverse changes in applicable laws and regulations, competition, or the sale or disposition of a reporting segment.
Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">We evaluate our finite and indefinite lived trademarks
under the terms and provisions of the accounting standards for &ldquo;Intangibles - Goodwill and Other&rdquo;; and &ldquo;Property,
Plant and Equipment.&rdquo; These pronouncements require that we compare the fair value of an intangible asset with its carrying
amount. Our 2015 and 2014 evaluation did not result in the impairment of any of our indefinite lived intangible assets.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-indent: -23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">4.</TD><TD>OTHER ASSETS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify">Other assets consist of the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Deferred financing costs, net</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">120,403</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">151,144</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">138,409</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">148,346</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">258,812</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">299,490</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">5.</TD><TD>FIXED ASSETS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Fixed assets are comprised of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%">Land</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">671,035</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">671,035</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Buildings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,247,770</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,027,998</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Machinery and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,611,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,206,408</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Furniture and fixtures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,722,751</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,491,295</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Lasts, dies and patterns</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,811,676</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,131,234</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Construction work-in-progress</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,161,533</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">281,198</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80,226,580</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,809,168</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less - accumulated depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(52,390,053</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(47,544,527</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Fixed Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">27,836,527</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">26,264,641</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We incurred approximately $7,053,000, $6,807,000
and $6,204,000 in depreciation expense for 2015, 2014 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">6.</TD><TD>LONG-TERM DEBT</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In October 2010, we entered into a financing agreement
with PNC Bank (&ldquo;PNC&rdquo;) to provide a $70 million credit facility. In December 2014, we amended and restated the credit
facility to increase the facility to $75 million and extend the term of the facility an additional five years. The credit facility&rsquo;s
base interest rate is the current prime rate less 0.25%, however the credit facility provides us the option to borrow on up to
eight fixed loans at LIBOR plus 1.25% in accordance with the 2014 amended and restated credit agreement. The LIBOR rate is determined
based on the fixed loan maturities, which vary from 30, 60, 90, or 180 days. As of December 31, 2015 and December 31, 2014, we
had approximately $17.0 million and $35.0 million, respectively, in fixed LIBOR borrowings under the credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">The total amount available
under our amended and restated revolving credit facility is subject to a borrowing base calculation based on various percentages
of accounts receivable and inventory. As of December 31, 2015, we had $23.7 million in borrowings under this facility and total
capacity of $66.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">Our amended and restated credit
facility contains a restrictive covenant which requires us to maintain a fixed charge coverage ratio. This restrictive covenant
is only in effect upon a triggering event taking place (as defined in the amended and restated credit facility agreement). At December
31, 2015, there was no triggering event and the covenant was not in effect. Our amended and restated credit facility places a restriction
on the amount of dividends that may be paid. During 2015, 2014 and 2013, we paid dividends on our common stock totaling $3,252,254,
$3,017,979 and $2,254,935, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">Our amended and restated revolving
credit facility matures in November 2019. We have no other long-term debt maturities.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-indent: -23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">7.</TD><TD>OPERATING LEASES</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We lease certain machinery, trucks, and facilities
under operating leases that generally provide for renewal options. We incurred approximately $1,335,000, $1,324,000 and $840,000
in rent expense under operating lease arrangements for 2015, 2014 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Future minimum lease payments under non-cancelable
operating leases are approximately as follows for the years ended December 31:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: justify">2016</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">1,205,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,129,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">620,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">110,143</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-align: justify">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,064,143</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 23.75pt">8.</TD><TD>RETIREMENT PLANS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We also sponsor a 401(k) savings plan for substantially
all of our employees. We provide a contribution of 3% of applicable salary to the plan for all employees with greater than six
months of service. Additionally, we match eligible employee contributions at a rate of 0.25%, per one percent of applicable salary
contributed to the plan by the employee. This matching contribution will be made by us up to a maximum of 1% of the employee&rsquo;s
applicable salary for all qualified employees. Our contributions to the 401(k) plan were approximately $1.0 million in 2015, $1.0
million in 2014 and $0.9 million in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 23.75pt"><B>9.</B></TD><TD><B>INCOME TAXES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The Company accounts for income taxes in accordance
with the accounting standard for &ldquo;Income Taxes&rdquo;, which requires an asset and liability approach to financial accounting
and reporting for income taxes. Accordingly, deferred income taxes have been provided for the temporary differences between the
financial reporting and the income tax basis of the Company&rsquo;s assets and liabilities by applying enacted statutory tax rates
applicable to future years to the basis differences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">A breakdown of our income tax expense is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">Years Ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Federal:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; padding-left: 9pt">Current</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,656,870</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,656,356</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,540,701</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Deferred</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">287,755</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">848,666</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">778,213</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total Federal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,944,625</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,505,022</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,318,914</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">State &amp; local:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81,433</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">203,144</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109,254</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Deferred</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,863</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">140,552</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(29,619</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total State &amp; local</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">168,296</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">343,696</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,635</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Foreign</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,911</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,450</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Deferred</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(41,969</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">255</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,769</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total Foreign</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(28,578</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">47,166</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">44,219</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,084,343</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,895,884</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,442,768</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">A reconciliation of recorded Federal income tax
expense to the expected expense computed by applying the applicable Federal statutory rate for all periods to income before income
taxes follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center">Years Ended December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">Expected expense at statutory rate</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,404,159</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">5,147,234</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,775,418</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Increase (decrease) in income taxes resulting from:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Exempt income from Dominican Republic operations due to tax holiday</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,816,963</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,477,301</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,871,847</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Tax on repatriated earnings from Dominican Republic operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,556,940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,090,036</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,592,238</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Impact of Canadian deemed dividend</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,703</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,712</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">State and local income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,886</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">284,838</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,948</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Section 199 manufacturing deduction</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(194,498</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(135,690</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(51,396</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Meals and entertainment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,082</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">76,465</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Nondeductible penalties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,998</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,563</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Provision to return filing adjustments and other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(37,261</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(118,974</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(135,270</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,084,343</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,895,884</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,442,768</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Deferred income taxes recorded in the consolidated
balance sheets at December 31, 2015 and 2014 consist of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Deferred tax assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 9pt">Asset valuation allowances and accrued expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">510,798</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">776,416</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">563,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">705,028</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">State and local income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">425,179</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">394,776</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Pension and deferred compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,004</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80,969</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Net operating losses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">650,620</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">575,702</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total deferred tax assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,222,416</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,532,891</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Valuation allowances</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(569,459</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(569,881</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total deferred tax assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,652,957</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,963,010</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Deferred tax liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Fixed assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,655,838</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,736,042</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,185,988</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,001,289</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(400,651</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(482,549</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Tollgate tax on Lifestyle earnings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(379,271</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(379,271</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total deferred tax liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(13,621,748</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(13,599,151</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net deferred tax liability</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(11,968,791</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(11,636,141</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deferred income taxes - current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,031,818</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,291,907</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deferred income taxes - non-current</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,000,609</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(12,928,048</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(11,968,791</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(11,636,141</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The valuation allowance is related to certain state
and local income tax net operating loss carry forwards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We have provided Puerto Rico tollgate taxes on approximately
$3,684,000 of accumulated undistributed earnings of Lifestyle prior to the fiscal year ended June 30, 1994, that would be payable
if such earnings were repatriated to the United States. In 2001, we received abatement for Puerto Rico tollgate taxes on all earnings
subsequent to June 30, 1994, thus no other provision for tollgate tax has been made on earnings after that date. If we repatriate
the earnings from Lifestyle, approximately $379,000 of tollgate tax would be due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">As of December 31, 2015, we had approximately $18,323,000
of undistributed earnings from non-U.S. subsidiaries that are intended to be permanently reinvested in non-U.S. operations. Because
these earnings are considered permanently reinvested, no U.S. tax provision has been accrued related to the repatriation of these
earnings. If the Five Star undistributed earnings were distributed to the Company in the form of dividends, the related taxes on
such distributions would be approximately $6,413,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We file income tax returns in the U.S. Federal jurisdiction
and various state and foreign jurisdictions. We are no longer subject to U.S. Federal tax examinations for years before 2012. In
2014, we were subjected to an IRS examination for our consolidated U.S. Federal return for the year 2011. There were no adjustments
to our return as a result of that examination. State jurisdictions that remain subject to examination range from 2011 to 2015.
Foreign jurisdiction (Canada and Puerto Rico) tax returns that remain subject to examination range from 2010 to 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Our policy is to accrue interest and penalties on
any uncertain tax position as a component of income tax expense. As of December 31, 2015 no such expenses were recognized during
the year. We do not believe there will be any material changes in our uncertain tax positions over the next 12 months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Accounting for uncertainty in income taxes requires
financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise&rsquo;s financial
statements.&nbsp; Under this guidance, income tax positions must meet a more-likely-than-not recognition threshold at the effective
date to be recognized upon the adoption of the standard.&nbsp; The Company did not have any unrecognized tax benefits and there
was no effect on its financial condition or results of operations as a result of implementing this standard.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 23.75pt; text-align: left">10.</TD><TD STYLE="text-align: justify">COMMITMENTS AND CONTINGENCIES</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We are, from time to time, a party to litigation
which arises in the normal course of business. Although the ultimate resolution of pending proceedings cannot be determined, in
the opinion of management, the resolution of such proceedings in the aggregate will not have a material adverse effect on our financial
position, results of operations, or liquidity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 23.75pt; text-align: left">11.</TD><TD STYLE="text-align: justify">CAPITAL STOCK AND STOCK BASED COMPENSATION</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">On May 7, 2014, our shareholders approved the 2014
Omnibus Incentive Plan (the &ldquo;2014 Plan&rdquo;). The 2014 Plan includes 500,000 of our common shares that may be granted under
various types of awards as described in the 2014 Plan. As of December 31, 2015, we were authorized to issue 394,291 shares under
this plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>Service Based Restricted Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In the first quarter of 2015, we issued 28,000 restricted
stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These
restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $13.42
per unit, which was the closing price of our stock on the last trading date prior to the grant date. In August 2015, we issued
2,000 restricted stock units to a member of our management that will be settled in one share of common stock of the company per
unit. These restricted stock units vest on the same basis as the restricted stock units issued in the first quarter of 2015. We
valued the units at a fair value of $18.15 per unit, which was the closing price of our stock on the last trading date prior to
the grant date. In the first quarter of 2014, we issued 23,000 shares of restricted stock units to certain members of our management
that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25%
per year over the next four years. We valued the units at a fair value of $14.57 per unit, which was the closing price of our stock
on the last trading date prior to the grant date. For the years ended December 31, 2015 and 2014, we recorded expense of $183,150
and $83,778, respectively, related to these restricted stock units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>Performance Based Restricted Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In the first quarter of 2015, we made available
up to 32,000 performance based restricted stock units to certain members of our management. Shares underlying the performance based
restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2016. In August 2015,
we made available up to 2,000 performance based restricted stock units to a member of our management. The shares underlying the
performance based restricted stock units will be issued under the same criteria as the shares issued in the first quarter of 2015.
For the year ended 2015, we did not record any expense related to the performance units as it is uncertain if we will reach the
performance goals. In the first quarter of 2014, we made available up to 23,000 shares of performance based restricted stock units
to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving
certain established EPS goals at the end of fiscal year 2015. For the years ended 2015 and 2014, we did not record any expense
related to these restricted stock units as the performance goals were not achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B>Stock Options</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In the first quarter of 2015, we issued 28,000 stock
options to certain members of our management. These stock options vest in increments of 20% per year over the next five years.
The options are exercisable at $13.42 per option, which was the closing price of our stock on the last trading date prior to the
grant date. We have determined the fair value of the options to be $4.70 per option using the Black Scholes calculation. The significant
assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 46.20%,
a risk free interest rate of 1.92%, a dividend yield of 2.99% and an initial employee forfeiture rate of 3.8%. Our expected life
estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In August 2015, we issued 2,000 stock
options to a member of our management. These stock options vest in increments of 20% per year over the next five years, except
for the first tranche of options that will vest on January 1, 2016. The options are exercisable at $18.15 per option, which was
the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options
to be $5.95 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations
consist of an expected life of 6.5 years, historical volatility of 40.32%, a risk free interest rate of 1.98%, a dividend yield
of 2.46% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided
by the number of vesting tranches. In the first quarter of 2014, we issued 23,000 shares of stock options to certain members of
our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at
$14.57 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined
the fair value of the options to be $5.94 per option using the Black Scholes calculation. The significant assumptions utilized
for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 52.04%, a risk free interest
rate of 2.41%, a dividend yield of 2.75% and an employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum
of the vesting terms divided by the number of vesting tranches. For the years ended 2015 and 2014, we recorded expense of $54,828
and $27,324, respectively, related to these stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">For the above issuances under the plan, we expect
to recognize expense in the years 2016 through 2019 as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: justify">2016</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">215,585</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,246</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">132,463</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">2019</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">23,174</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: justify">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">577,468</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The following summarizes stock option transactions
from January 1, 2014 through December 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<BR> Average<BR> Exercise&nbsp;<BR> Price</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<BR> Average<BR> Remaining<BR> Actual&nbsp;Term</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Aggregate<BR> Intrinsic<BR> Value</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Options outstanding at January 1, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; padding-left: 9pt">Issued</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">23,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">14.57</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Forfeited</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Options outstanding at December 31, 2014</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">23,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14.57</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Options exercisable at:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">January 1, 2014</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; padding-bottom: 2.5pt">December 31, 2014</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Unvested options at December 31, 2014</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">23,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14.57</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Options outstanding at January 1, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.57</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Issued</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13.74</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(600</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.57</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Forfeited</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">14.57</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Options outstanding at December 31, 2015</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">51,600</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14.08</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Options exercisable at:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">January 1, 2015</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">December 31, 2015</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14.57</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Unvested options at December 31, 2015</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">47,600</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14.04</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">During the years ended December 31, 2015 and 2014,
a total of 30,000 and 23,000 were issued with an intrinsic value of zero for all years. During the year ended December 31, 2015,
a total of 600 options were exercised with an intrinsic value of zero. During the year ended December 31, 2015, a total of 800
options were forfeited with a fair value of $4,752. A total of 4,000 options vested during the year ended December 31, 2015 with
a fair value of $23,760. At December 31, 2015 and 2014, a total of 47,600 and 23,000 options were unvested with a fair value of
$248,004 and $136,620. There were no options issued or exercised during 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">During the year ended December 31, 2015, we issued
10,793 shares of common stock to members of our Board of Directors. We recorded compensation expense of $175,000, which was the
fair market value of the shares on the grant dates. The shares are fully vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The Company has authorized 250,000 shares of voting
preferred stock without par value. No shares are issued or outstanding. Also, the Company has authorized 250,000 shares of non-voting
preferred stock without par value. Of these, 125,000 shares have been designated Series A non-voting convertible preferred stock
with a stated value of $.06 per share, of which no shares are issued or outstanding at December 31, 2015 and 2014, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The plans generally provided for grants with the
exercise price equal to fair value on the date of grant, graduated vesting periods of up to 5 years, and lives not exceeding 10
years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In June 2009, our Board of Directors adopted a Rights
Agreement, which provides for one preferred share purchase right to be associated with each share of our outstanding common stock.
Shareholders exercising these rights would become entitled to purchase shares of Series B Junior Participating Cumulative Preferred
Stock. The rights are exercisable after the time when a person or group of persons without the approval of the Board of Directors
acquire beneficial ownership of 20 percent or more of our common stock or announce the initiation of a tender or exchange offer
which if successful would cause such person or group to beneficially own 20 percent or more of the common stock. Such exercise
would ultimately entitle the holders of the rights to purchase at the exercise price, shares of common stock of the surviving corporation
or purchaser, respectively, with an aggregate market value equal to two times the exercise price. The person or groups effecting
such 20 percent acquisition or undertaking such tender offer would not be entitled to exercise any rights. The Rights Agreement
was renewed in June 2012 and expired in August 2015.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-indent: -23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">12.</TD><TD>SUPPLEMENTAL CASH FLOW INFORMATION</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Supplemental cash flow information including other
cash paid for interest and Federal, state and local income taxes was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">Years Ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left; padding-bottom: 2.5pt">Interest paid</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">724,651</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">856,578</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">683,475</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Federal, state and local income taxes paid - net of refunds</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,568,581</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">972,645</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,248,181</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Capitalized interest</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Fixed asset purchases in accounts payable</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">92,903</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">85,488</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">459,941</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt; text-align: left">13.</TD><TD STYLE="text-align: justify">SEGMENT INFORMATION</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><B><I>Operating Segments</I></B> - We operate our
business through three business segments: wholesale, retail and military.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Wholesale.</I></B> In our wholesale segment,
our products are offered in over ten thousand retail locations representing a wide range of distribution channels in the U.S. and
Canada. These distribution channels vary by product line and target market and include sporting goods stores, outdoor retailers,
independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores
and other specialty retailers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Retail.</I></B> In our retail segment, we
primarily sell our products directly to consumers through our consumer and business direct websites and our Rocky outlet store.
We also operate four mobile trucks to service the New York Transit Authority&rsquo;s employees. Through our outlet store, we generally
sell first quality or discontinued products in addition to a limited amount of factory damaged goods, which typically carry lower
gross margins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Military.</I></B> While we are focused on
continuing to build our wholesale and retail business, we also actively bid, from time to time, on footwear contracts with the
U.S. military. Our sales under such contracts are dependent on us winning the bids for these contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">We have received an order to fulfill a contract to
the U.S. Military to produce &ldquo;Hot Weather&rdquo; combat boots. We began shipping boots in the first quarter of 2013. The
contract included a minimum purchase amount of $3.0 million and a maximum of $15.0 million for the first year and included an option
for four additional years with the same terms. During 2014 and 2015, we shipped boots under this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The following is a summary of segment results for
the Wholesale, Retail, and Military segments. Certain amounts from prior year have been reclassified to conform to current year
presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">Years Ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">NET SALES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; padding-left: 9pt">Wholesale</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">206,072,657</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">233,898,250</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">192,901,438</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Retail</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,808,705</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,347,775</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,092,829</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Military</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,420,661</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,996,144</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,876,464</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Net Sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">269,302,023</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">286,242,169</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">244,870,731</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">GROSS MARGIN:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Wholesale</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">65,979,792</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75,840,977</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">62,420,052</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Retail</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,621,884</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,449,609</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,856,441</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Military</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,290,163</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,070,139</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,265,958</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Gross Margin</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">88,891,839</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">96,360,725</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">83,542,451</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Segment asset information is not prepared or used
to assess segment performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><B><I>Product Group Information</I></B> - The following
is supplemental information on net sales by product group:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <BR>
Sales</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <BR>
Sales</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <BR>
Sales</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 22%; text-align: left">Work footwear</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">120,422,188</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">44.7</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">131,510,217</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">45.9</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">123,131,787</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">50.3</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Western footwear</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,435,734</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,475,880</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,998,504</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Duty and commercial military footwear</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,341,424</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,174,738</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.3</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,517,114</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.7</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Lifestyle footwear</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,370,822</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,823,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,599,879</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.3</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Outdoor footwear</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,688,005</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,606,151</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,194,524</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.2</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Military footwear</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,420,661</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,996,144</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,876,464</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.6</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Apparel</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,662,277</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,471,005</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,676,075</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.7</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,155,137</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,100,128</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,454,968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.8</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Royalty income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">805,775</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">0.3</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,084,686</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">0.4</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">421,416</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">0.2</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">269,302,023</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">286,242,169</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">244,870,731</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Net sales to foreign countries, primarily Canada,
represented approximately 4.8% of net sales in 2015, 6.3% of net sales in 2014 and 2.9% of net sales in 2013.<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">14.</TD><TD STYLE="text-align: justify">QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify; text-indent: -23.75pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The following is a summary of the unaudited quarterly results
of operations for the years ended December 31, 2015 and 2014: </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1st Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2nd Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3rd Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4th Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Year</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left">Net sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">65,451,303</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">68,583,196</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">70,001,496</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">65,266,028</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">269,302,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross margin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,971,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,648,633</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,117,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,154,419</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,891,839</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,413,947</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,002,673</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,803,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,382,870</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,603,157</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dividends paid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">755,953</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">831,827</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">832,073</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">832,401</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,252,254</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Net income per common share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.24</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.18</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.24</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.18</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1st Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2nd Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3rd Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4th Quarter</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Year</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left">Net sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">65,783,284</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">68,822,520</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">72,729,678</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">78,906,687</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">286,242,169</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross margin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,853,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,585,662</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,273,792</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,648,122</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,360,725</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">723,788</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,511,461</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,138,507</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,471,542</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,845,298</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dividends paid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">753,981</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">754,321</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">754,665</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">755,012</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,017,979</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Net income per common share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.10</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.42</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.10</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.42</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.75pt">15.</TD><TD STYLE="text-align: justify">ACQUISITION OF CREATIVE RECREATION</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">On December 13, 2013, we completed the acquisition
of certain assets of Kommonwealth, Inc. including the Creative Recreation trademark, a lifestyle footwear brand best known for
its popular crossover between athletic sneakers and dress shoes. The total purchase price was $8,722,843 including cash and assumption
of certain liabilities. The acquisition was funded by our existing cash balances and funds available under our existing revolving
credit facility. We did not have any sales in 2013 related to this acquisition and had net pre-tax operational expenses of $172,418
that was included as a component of income from operations. In addition, we incurred $1,172,047 of acquisition related expenses.
The acquisition related expenses were included as a component of income from operations for the year ended December 31, 2013 and
consisted of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: left">Investment banker fees</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">503,072</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">187,585</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Valuation services</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,561</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Stock compensation expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">290,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Freight and warehousing expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,726</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Travel Expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">66,303</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total acquisition related expenses</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,172,047</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">The acquisition was accounted for under the purchase
method of accounting in accordance with ASC 805, Business Combinations, with the excess of the fair market value of the assets
acquired and liabilities assumed in excess of the purchase price recorded as a gain on purchase. Based on the purchase price allocation,
the purchase price resulted in a gain on purchase. The purchase price allocation is based upon certain estimates made by management
with the assistance of an independent, third-party valuation company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">During 2015 and 2014, we had $13.6 million and $16.1
million, respectively, in net sales for the Creative Recreation business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><I>Purchase Price Allocation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">We negotiated the respective purchase prices of the
assets based on the expected cash flows to be derived from the assets after integration into our existing sourcing and distribution
networks. The acquisition purchase price was allocated based on the fair values of the assets acquired and liabilities assumed,
which are based on management estimates and the assistance of third-party appraisals. The following table summarizes the estimated
fair values of the assets acquired and liabilities assumed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%">Purchase Price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">2,229,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline">Preliminary Allocation of Purchase Price</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,081,764</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,162,360</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Prepaid expenses and deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(82,339</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(698,355</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Trademarks</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,100,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Customer relationships</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,200,000</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Total assets acquired</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,324,818</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accounts payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,493,843</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net gain on purchase</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(601,975</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Intangible assets related to the acquisitions represent the
fair value of trademarks and customer relationships. See Note 3 intangible assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-10.35
<SEQUENCE>2
<FILENAME>v432962_ex10-35.htm
<DESCRIPTION>EXHIBIT 10.35
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B><I>Exhibit 10.35</I></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>AMENDMENT NO. 1 TO LOAN DOCUMENTS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Rocky Brands, Inc.</B>,
an Ohio corporation (&ldquo;<U>Parent</U>&rdquo;), <B>Lehigh Outfitters, LLC</B>, a Delaware limited liability company (&ldquo;<U>Lehigh</U>&rdquo;),
<B>Lifestyle Footwear, Inc.</B>, a Delaware corporation (&ldquo;<U>Lifestyle</U>&rdquo;), <B>Rocky Brands US, LLC</B>, a Delaware
limited liability company formerly known as Rocky Brands Wholesale LLC and successor by merger to Creative Recreation, LLC and
Creative Recreation Retail, LLC (&ldquo;<U>Rocky US</U>&rdquo;), <B>Rocky Brands International, LLC</B>, an Ohio limited liability
company and successor by merger to Creative Recreation International, LLC (&ldquo;<U>Rocky International</U>&rdquo;), and <B>Rocky
Brands Canada, Inc.</B>, a corporation formed under the laws of the Province of Nova Scotia and a continuation of a corporation
formed under the laws of the Province of Ontario (&ldquo;<U>Rocky Canada</U>&rdquo;) (Parent, Lehigh, Lifestyle, Rocky US, Rocky
International, and Rocky Canada, collectively, the &ldquo;<U>Borrowers</U>&rdquo; and individually a &ldquo;<U>Borrower</U>&rdquo;),
the Lenders listed on the signatures pages hereto, including <B>U.S. Bank National Association</B> (collectively, the &ldquo;<U>Lenders</U>&rdquo;
and individually a &ldquo;<U>Lender</U>&rdquo;) and <B>PNC Bank, National Association</B>, as a Lender and as Agent for the Lenders
(&ldquo;<U>PNC</U>&rdquo;) (PNC, in such capacity, the &ldquo;<U>Agent</U>&rdquo;), agree as follows effective as of January 22,
2016 (the &ldquo;<U>Effective Date</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Recitals</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.1</TD><TD STYLE="text-align: justify">As of December 19, 2014, Borrowers, Lenders, and Agent, entered into an Amended and Restated Revolving
Credit, Term Loan, Guaranty, and Security Agreement (as amended, extended, modified, or restated, the &ldquo;<U>Loan Agreement</U>&rdquo;).
Capitalized terms used herein and not otherwise defined will have the meanings given such terms in the Loan Agreement as amended.
The Loan Agreement, the Other Documents, and all related loan and/or security documents are referred to herein as the &ldquo;<U>Loan
Documents</U>&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.2</TD><TD STYLE="text-align: justify">Borrowers have requested the Agent and Lenders consent to a name change by Rocky US and agree to
amend the Loan Agreement to extend the Borrowing Period. Agent and Lenders have agreed to do so on the terms and subject to the
conditions set forth herein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Amendment</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">The fourth, fifth and sixth sentences of Section 2.4 of the Loan Agreement are hereby amended and
restated as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">&ldquo;Advances consisting
of Equipment Loans shall be accumulated from the Restatement Date through December 31, 2016 (the &ldquo;<U>Borrowing Period</U>&rdquo;).
At the end of the Borrowing Period, no additional Equipment Loans shall be made and the sum of all Equipment Loans made during
the Borrowing Period shall amortize on the basis of a sixty (60) month schedule. The Equipment Loans shall be, with respect to
principal, payable in equal monthly installments based upon the amortization schedule set forth above, commencing on January 1,
2017 and on the first (1<SUP>st</SUP>) day of each month thereafter with the balance payable upon the expiration of the Term, subject
to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Consent
and Amendment of Schedules</U></B>.<B> </B>Borrowers have undertaken a corporate reorganization effective as of January 1, 2016
pursuant to which (a) Rocky Brands Wholesale LLC changed its name to Rocky Brands US, LLC, (b) Creative Recreation, LLC and Creative
Recreation Retail, LLC merged into Rocky US, and (c) Creative Recreation International, LLC merged into Rocky International. Notwithstanding
the requirements of Section 7.15(b) of the Loan Agreement, Agent and Lenders hereby consent to such name change, and the schedules
to the Loan Agreement shall be amended to reflect such changes. This consent shall not affect any other Default or Event of Default
of the same or different nature arising at any time. This consent will not constitute a modification or an alteration of the terms,
conditions or covenants of the Loan Agreement or the Other Documents, except as expressly described above. This consent will not
relieve or release any Borrower or Guarantor in any way from its respective duties, obligations, covenants or agreements under
the Loan Agreement or the Other Documents or from the consequences of any Default or Event of Default thereunder, except as expressly
described above. This consent will not obligate Agent or Lenders, or be construed to require Agent or Lenders, to consent to any
other departure from the requirements of the Loan Agreement. No course of dealing is established hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Representations,
Warranties and Covenants</U></B>. To induce Agent and Lenders to enter into this Amendment No. 1 to Loan Documents (this &ldquo;<U>Amendment</U>&rdquo;),
each Borrower represents, warrants, and covenants, as applicable, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify"><U>Representations and Warranties</U>. The representations and warranties of Borrowers contained
in the Loan Documents are deemed to have been made again on and as of the Effective Date, except to the extent that such representations
and warranties were expressly limited to an earlier date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: justify"><U>No Defaults</U>. After giving effect to this Amendment, no Event of Default or Default exists
on the Effective Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: justify"><U>No Claims</U>. Each Borrower represents and warrants that, to its knowledge, it has no claims,
counterclaims, setoffs, actions or causes of actions, damages or liabilities of any kind or nature whatsoever whether at law or
in equity, in contract or in tort, existing as of the Effective Date, other than any reconciliations or manifest error in calculation
(collectively, &ldquo;<U>Claims</U>&rdquo;) against Agent or Lenders, their direct or indirect parent corporations or any direct
or indirect Affiliates of such parent corporations, or the administrators, successors or assigns of any of them (collectively,
&ldquo;<U>Lender Parties</U>&rdquo;) that directly or indirectly arise out of, are based upon or are in any manner connected with
any Prior Related Event. As an inducement to Agent and Lenders to enter into this Amendment, each Borrower on behalf of itself,
and all of its respective successors and assigns hereby knowingly and voluntarily releases and discharges all Lender Parties from
any and all Claims, whether known or unknown in existence as of the Effective Date, that directly or indirectly arise out of, are
based upon or are in any manner connected with any Prior Related Event. As used herein, the term &ldquo;<U>Prior Related Event</U>&rdquo;
means any transaction, event, circumstance, action, failure to act, occurrence of any sort or type, whether known or unknown, which
occurred, existed, was taken, permitted or begun at any time prior to the Effective Date or occurred, existed, was taken, was permitted
or begun in accordance with, pursuant to or by virtue of any of the terms of the Loan Documents or any documents executed in connection
with the Loan Documents or which was related to or connected in any manner, directly or indirectly to the extension of credit represented
by the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.4</TD><TD STYLE="text-align: justify"><U>Authorization</U>. This Amendment and the related documents have been duly authorized by each
Borrower. Each Borrower has the full right, power and authority to enter into this Amendment and perform its respective obligations
hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.5</TD><TD STYLE="text-align: justify"><U>No Misrepresentations</U>. No information or material submitted to Agent in connection with
this Amendment contains any material misstatement or misrepresentation nor omits to state any material fact or circumstance necessary
to make the statements herein or therein not misleading.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.6</TD><TD STYLE="text-align: justify"><U>No Conflicts</U>. The execution and delivery of this Amendment and all deliveries required hereunder,
and the performance by each Borrower of its obligations hereunder do not and will not conflict with any provision of law or the
organizational documents of Borrowers or of any other material agreement binding upon Borrowers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">4.7</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Enforceability</U>. This Amendment and each of the related documents
is a legal and valid and binding obligation of Borrowers, enforceable against Borrowers in accordance with its terms, </FONT>e<FONT STYLE="font-size: 10pt">xcept
as such enforceability may be limited by any applicable bankruptcy, insolvency, moratorium or similar laws affecting creditors&rsquo;
rights generally.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.8</TD><TD STYLE="text-align: justify"><U>Ratification</U>. Except as expressly modified herein, the Loan Agreement, as amended, is and
remain in full force and effect. The Loan Documents are hereby ratified and confirmed as the continuing obligation of Borrowers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Conditions
Precedent</U></B>. The closing of this Amendment is subject to the following conditions precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="text-align: justify"><U>Fees and Expenses</U>. Borrowers will pay to Agent all reasonable and documented attorneys&rsquo;
fees and expenses of Agent incurred in connection with this Amendment, <U>provided</U>, <U>however</U>, that such attorneys&rsquo;
fees shall not exceed the aggregate sum of $2,500.00.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.2</TD><TD STYLE="text-align: justify"><U>Other</U>. All corporate and other proceedings, and all documents, instruments and other legal
matters in connection with this Amendment and the related documentation shall be satisfactory in form and substance to Agent and
its counsel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.3</TD><TD STYLE="text-align: justify">The representations and warranties of Borrowers in <U>Section 4</U> herein will be true.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>General</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.1</TD><TD STYLE="text-align: justify">This Amendment is an &ldquo;Other Document&rdquo; as defined in the Loan Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.2</TD><TD STYLE="text-align: justify">Except as expressly provided herein, nothing contained herein will be construed as waiving any
Default or Event of Default under the Loan Documents or will affect or impair any right, power or remedy of Agent or Lenders under
or with respect to the Loan Documents, as amended, or any agreement or instrument guaranteeing, securing or otherwise relating
to any of the Advances.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.3</TD><TD STYLE="text-align: justify">All representations and warranties made by Borrowers herein will survive the execution and delivery
of this Amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.4</TD><TD STYLE="text-align: justify">This Amendment will be binding upon and inure to the benefit of Borrowers, Agent, and Lenders and
their respective successors and assigns.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.5</TD><TD STYLE="text-align: justify">This Amendment will in all respects be governed and construed in accordance with the laws of the
State of Ohio.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.6</TD><TD STYLE="text-align: justify">This Amendment and the documents and instruments to be executed hereunder constitute the entire
agreement among the parties with respect to the subject matter hereof and shall not be amended, modified or terminated except by
a writing signed by the party to be charged therewith.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.7</TD><TD STYLE="text-align: justify">Each Borrower agrees to execute such other instruments and documents and provide Agent with such
further assurances as Agent may reasonably request to more fully carry out the intent of this Amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.8</TD><TD STYLE="text-align: justify">This Amendment may be executed in a number of identical counterparts. If so, each such counterpart
shall collectively constitute one agreement. Any signature delivered by a party by facsimile transmission or other electronic means
shall be deemed to be an original signature hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.9</TD><TD STYLE="text-align: justify">No provision of this Amendment is intended or shall be construed to be for the benefit of any third
party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EACH
PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS
AMENDMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Signature Page Follows</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Signature Page to Amendment No. 1 to Loan Documents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Executed as of the Effective Date</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">Rocky Brands, Inc.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">Lehigh Outfitters, LLC, </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">Lifestyle Footwear, Inc.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">Rocky Brands US, LLC,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">Rocky Brands International, LLC,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">Rocky Brands Canada, Inc.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">as Borrowers</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-align: justify; layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">/s/ James E. McDonald</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">James E. McDonald </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Executive Vice President and </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Chief Financial Officer of each Borrower</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Signature Page to Amendment No. 1 to Loan Documents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 50%; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">PNC Bank, National Association, </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">as Agent and a Lender</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 5%; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">/s/ Christopher Tully</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Christopher Tully</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Signature Page to Amendment No. 1 to Loan Documents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; layout-grid-mode: line; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; layout-grid-mode: line; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
    Bank National Association,</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="layout-grid-mode: line; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="layout-grid-mode: line; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">as
    a Lender</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 5%; text-decoration: none; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">/s/ Gary Yakel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Gary Yakel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-decoration: none; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Vice President<B><U> </U></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-21
<SEQUENCE>3
<FILENAME>v432962_ex21.htm
<DESCRIPTION>EXHIBIT 21
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B><U>Exhibit 21</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Subsidiaries of the Registrant as of January
4, 2016</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Five Star Enterprises Ltd.,<BR>
a Cayman Islands corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Lifestyle Footwear, Inc.,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Rocky Brands Canada, Inc.,<BR>
a Nova Scotia corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Rocky Brands US, LLC,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Rocky Brands International, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">an Ohio limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Lehigh Outfitters, LLC,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>4
<FILENAME>v432962_ex23.htm
<DESCRIPTION>EXHIBIT 23
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">We hereby
consent to the incorporation by reference in this Annual Report on Form 10-K of Rocky Brands, Inc. and Subsidiaries for the year
ended December 31, 2015 of our reports dated March 3, 2016 included in its Registration Statements Form S-3 (No. 333-188983) and
on Form S-8 (No. 333-121756, No. 333-198167) relating to the consolidated financial statements and internal controls for the three
years ended December 31, 2015, 2014 and 2013</FONT><FONT STYLE="background-color: white"> </FONT><FONT STYLE="font-size: 10pt">listed
in the accompanying index.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Schneider Downs &amp; Co., Inc.</FONT></TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Columbus, Ohio</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>5
<FILENAME>v432962_ex24.htm
<DESCRIPTION>EXHIBIT 24
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 24</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>POWER OF ATTORNEY</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each director and officer of Rocky Brands,
Inc., an Ohio corporation (the &ldquo;Company&rdquo;), whose signature appears below hereby appoints David N. Sharp and Curtis
A. Loveland, or either of them, as his attorney-in-fact, to sign, in his name and behalf and in any and all capacities stated below,
and to cause to be filed with the Securities and Exchange Commission, the Company's Annual Report on Form 10-K (the &ldquo;Annual
Report&rdquo;) for the fiscal year ended December 31, 2015, and likewise to sign and file any amendments, including post-effective
amendments, to the Annual Report, and the Company hereby also appoints such persons as its attorneys-in-fact and each of them as
its attorney-in-fact with like authority to sign and file the Annual Report and any amendments thereto in its name and behalf,
each such person and the Company hereby granting to such attorney-in-fact full power of substitution and revocation, and hereby
ratifying all that such attorney-in-fact or his substitute may do by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
we have executed this Power of Attorney, in counterparts if necessary, effective as of February 26, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt">DIRECTORS/OFFICERS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Title</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer, President, and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ James E. McDonald</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">James E. McDonald</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ Mike Brooks</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Mike Brooks</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ Curtis A. Loveland</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Secretary and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Curtis A. Loveland</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ Glenn E. Corlett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Glenn E. Corlett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ Michael L. Finn</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Michael L. Finn</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ G. Courtney Haning</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">G. Courtney Haning</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ Harley E. Rouda, Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Harley E. Rouda, Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">/s/ James L. Stewart</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">James L. Stewart</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt; text-indent: 2.4pt">&nbsp;</P>


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<TYPE>EX-31.1
<SEQUENCE>6
<FILENAME>v432962_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt; text-align: right; text-indent: 2.4pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt; text-align: right; text-indent: 2.4pt"><B>Exhibit
31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt; text-indent: 2.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CERTIFICATION
PURSUANT TO EXCHANGE ACT RULES 13a-14(a) AND 15d-14(a) OF THE CHIEF<BR>
 EXECUTIVE OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, David N. Sharp, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 10-K of Rocky Brands, Inc.;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is
being prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting
that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth quarter in the case of an
annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control
over financial reporting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of registrant&rsquo;s
board of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">all significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize
and report financial information; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: March 3, 2016</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">David N. Sharp</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>





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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>7
<FILENAME>v432962_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO EXCHANGE ACT
RULES 13a-14(a) AND 15d-14(a) OF THE CHIEF <BR>
FINANCIAL OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, James E. McDonald, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 10-K of Rocky Brands, Inc.;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is
being prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting
that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth quarter in the case of an
annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control
over financial reporting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of registrant&rsquo;s
board of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">all significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize
and report financial information; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: March 3, 2016</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ James E. McDonald</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">James E. McDonald</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>


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<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>8
<FILENAME>v432962_ex32.htm
<DESCRIPTION>EXHIBIT 32
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULE 13a -
14(b) AND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 1350 OF CHAPTER 63 OF TITLE 18
OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES CODE AS ADOPTED PURSUANT
TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Annual Report of Rocky Brands, Inc. (the &ldquo;Company&rdquo;) on Form 10-K for the year ended December 31, 2015 as filed
with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), each of the undersigned hereby certifies,
pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">The Report fully complies with the requirements of Section 13(a) of the Securities Exchange Act
of 1934; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">The information contained in the Report fairly presents, in all material respects, the financial
condition and results of operations of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ David N. Sharp</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">David N. Sharp</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ James E. McDonald</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">James E. McDonald</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">March 3, 2016</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This certification is being furnished as
required by Rule 13a-14(b) under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) and Section 1350
of Chapter 63 of Title 18 of the United States Code, and shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of
the Exchange Act or otherwise subject to the liability of that Section. This certification shall not be deemed to be incorporated
by reference into any filing under the Securities Act of 1933 or the Exchange Act, except as otherwise stated in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>


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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>9
<FILENAME>v432962_ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ROCKY BRANDS, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED VALUATION AND QUALIFYING
ACCOUNTS FOR THE YEARS ENDED <BR>
DECEMBER 31, 2015, 2014 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">DESCRIPTION</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Balance&nbsp;at<BR> Beginning&nbsp;of<BR> Period</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Additions<BR> Charged
    to&nbsp;<BR> Costs and&nbsp;<BR> Expenses</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Deductions</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Balance
    at&nbsp;<BR>
End&nbsp;of Period</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">ALLOWANCE FOR DOUBTFUL ACCOUNTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%">Year ended December 31, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,002,257</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">713,190</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(895,447</TD><TD NOWRAP STYLE="width: 1%; text-align: left">)(1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">820,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Year ended December 31, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">781,163</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">650,836</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(429,742</TD><TD NOWRAP STYLE="text-align: left">)(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,002,257</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Year ended December 31, 2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">650,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">550,194</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(419,031</TD><TD NOWRAP STYLE="text-align: left">)(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">781,163</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">VALUATION ALLOWANCE FOR DEFERRRED TAX ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Year ended December 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">569,881</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(422</TD><TD NOWRAP STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">569,459</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Year ended December 31, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">562,776</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">569,881</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Year ended December 31, 2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">513,527</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">49,249</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">562,776</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">ALLOWANCE FOR DISCOUNTS AND RETURNS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Year ended December 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,917,199</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,632,422</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(21,495,015</TD><TD NOWRAP STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,054,606</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Year ended December 31, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,391,205</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">25,041,677</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(24,515,683</TD><TD NOWRAP STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,917,199</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Year ended December 31, 2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,057,055</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,726,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(20,392,100</TD><TD NOWRAP STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,391,205</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&#9;Amount charged off, net of recoveries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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  <dei:EntityRegistrantName contextRef="c2_From1Jan2015To31Dec2015">Rocky Brands, Inc.</dei:EntityRegistrantName>
  <dei:DocumentType contextRef="c2_From1Jan2015To31Dec2015">10-K</dei:DocumentType>
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  <dei:EntityCurrentReportingStatus contextRef="c2_From1Jan2015To31Dec2015">Yes</dei:EntityCurrentReportingStatus>
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  <dei:DocumentFiscalPeriodFocus contextRef="c2_From1Jan2015To31Dec2015">FY</dei:DocumentFiscalPeriodFocus>
  <dei:DocumentPeriodEndDate contextRef="c2_From1Jan2015To31Dec2015">2015-12-31</dei:DocumentPeriodEndDate>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;1.&lt;/td&gt;
     &lt;td&gt;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;font style=&quot;font-family: Times New Roman, Times, Serif&quot;&gt;&lt;b&gt;&lt;i&gt;Principles of Consolidation&lt;/i&gt;&lt;/b&gt;&lt;/font&gt; - The accompanying consolidated financial statements include the accounts of Rocky Brands, Inc. (&amp;#x201c;Rocky&amp;#x201d;) and its wholly-owned subsidiaries, Lifestyle Footwear, Inc. (&amp;#x201c;Lifestyle&amp;#x201d;), Five Star Enterprises Ltd. (&amp;#x201c;Five Star&amp;#x201d;), Rocky Canada, Inc. (&amp;#x201c;Rocky Canada&amp;#x201d;), Rocky Brands Wholesale, LLC, Rocky Brands International, LLC, Lehigh Outfitters, LLC, Creative Recreation, LLC, Creative Recreation International, LLC and Creative Recreation Retail, LLC, collectively referred to as the &amp;#x201c;Company.&amp;#x201d; All inter-company transactions have been eliminated.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;&lt;font style=&quot;font-family: Times New Roman, Times, Serif&quot;&gt;&lt;b&gt;&lt;i&gt;Business Activity&lt;/i&gt;&lt;/b&gt;&lt;/font&gt; - We are a leading designer, manufacturer and marketer of premium quality footwear marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh and Creative Recreation. Our brands have a long history of representing high quality, comfortable, functional and durable footwear and our products are organized around six target markets: outdoor, work, duty, commercial military, western and lifestyle. In addition, as part of our strategy of outfitting consumers from head-to-toe, we market complementary branded apparel and accessories that we believe leverage the strength and positioning of each of our brands.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Our products are distributed through three distinct business segments: wholesale, retail and military. In our wholesale business, we distribute our products through a wide range of distribution channels representing over ten thousand retail store locations in the U.S. and Canada. Our wholesale channels vary by product line and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers. Our retail business includes direct sales of our products to consumers through our e-commerce websites and our Rocky outlet store. We operate four mobile trucks to service the New York Transit Authority&amp;#x2019;s employees. We also sell footwear under the Rocky label to the U.S. military.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We did not have any single customer account for more than 10% of consolidated net sales in 2015, 2014 or 2013.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Estimates&lt;/i&gt;&lt;/b&gt; - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;font style=&quot;font-family: Times New Roman, Times, Serif&quot;&gt;&lt;b&gt;&lt;i&gt;Cash and Cash Equivalents&lt;/i&gt;&lt;/b&gt;&lt;/font&gt; - We consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Our cash and cash equivalents are primarily held in five banks. Balances may exceed federally insured limits.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Trade Receivables&lt;/i&gt;&lt;/b&gt; - Trade receivables are presented net of the related allowance for uncollectible accounts of approximately $820,000 and $1,002,000 at December 31, 2015 and 2014, respectively. The allowance for uncollectible accounts is calculated based on the relative age and status of trade receivable balances. Our credit policy generally provides that trade receivables will be deemed uncollectible and written-off once we have pursued all reasonable efforts to collect on the account.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Concentration of Credit Risk&lt;/i&gt;&lt;/b&gt; - We have significant transactions with a large number of customers. No customer represented 10% of trade receivables - net as of December 31, 2015 and 2014. Our exposure to credit risk is impacted by the economic climate affecting the retail shoe industry. We manage this risk by performing ongoing credit evaluations of our customers and maintain reserves for potential uncollectible accounts.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Supplier and Labor Concentrations&lt;/i&gt;&lt;/b&gt; - We purchase raw materials from a number of domestic and foreign sources. We currently buy the majority of our waterproof fabric, a component used in a significant portion of our shoes and boots, from one supplier (W.L. Gore &amp;amp; Associates, Inc.). We have had a relationship with this supplier for over 20 years and have no reason to believe that such relationship will not continue.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We produce a portion of our shoes and boots in our Dominican Republic operation and in our Puerto Rico operation. We are not aware of any governmental or economic restrictions that would alter these current operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We source a significant portion of our footwear, apparel and gloves from manufacturers in the Far East, primarily China. We are not aware of any governmental or economic restrictions that would alter our current sourcing operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;font style=&quot;font-family: Times New Roman, Times, Serif&quot;&gt;&lt;b&gt;&lt;i&gt;Inventories&lt;/i&gt;&lt;/b&gt;&lt;/font&gt; - Inventories are valued at the lower of cost, determined on a first-in, first-out (FIFO) basis, or market. Reserves are established for inventories when the net realizable value (NRV) is deemed to be less than its cost based on our periodic estimates of NRV.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;font style=&quot;font-family: Times New Roman, Times, Serif&quot;&gt;&lt;b&gt;&lt;i&gt;Fixed Assets&lt;/i&gt;&lt;/b&gt;&lt;/font&gt; - The Company records fixed assets at historical cost and generally utilizes the straight-line method of computing depreciation for financial reporting purposes over the estimated useful lives of the assets as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; style=&quot;font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.75in&quot;&gt;

    &lt;tr&gt;
     &lt;td style=&quot;vertical-align: top; width: 71%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 29%; text-decoration: underline; text-align: center; font-size: 10pt; border-bottom: Black 1pt solid&quot;&gt;&lt;u style=&quot;text-decoration: none&quot;&gt;Years&lt;/u&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;font-size: 10pt&quot;&gt;Buildings and improvements&lt;/td&gt;
     &lt;td style=&quot;text-align: center; font-size: 10pt&quot;&gt;5-40&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;font-size: 10pt&quot;&gt;Machinery and equipment&lt;/td&gt;
     &lt;td style=&quot;text-align: center; font-size: 10pt&quot;&gt;3-8&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;font-size: 10pt&quot;&gt;Furniture and fixtures&lt;/td&gt;
     &lt;td style=&quot;text-align: center; font-size: 10pt&quot;&gt;3-8&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;font-size: 10pt&quot;&gt;Lasts, dies, and patterns&lt;/td&gt;
     &lt;td style=&quot;text-align: center; font-size: 10pt&quot;&gt;3&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;For income tax purposes, the Company generally computes depreciation utilizing accelerated methods.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;&lt;b&gt;&lt;i&gt;Identified intangible assets&lt;/i&gt;&lt;/b&gt; - Identified intangible assets consist of indefinite lived trademarks and definite lived trademarks, patents and customer lists. Indefinite lived intangible assets are not amortized.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;If events or circumstances change, a determination is made by management, in accordance with the accounting standard for &amp;#x201c;Property, Plant and Equipment&amp;#x201d; to ascertain whether property, equipment and certain finite-lived intangibles have been impaired based on the sum of expected future undiscounted cash flows from operating activities. If the estimated net cash flows are less than the carrying amount of such assets, we will recognize an impairment loss in an amount necessary to write down the assets to fair value as determined from expected future discounted cash flows.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;In accordance with the accounting standard for &amp;#x201c;Intangibles &amp;#x2013; Goodwill and Other&amp;#x201d;, we test intangible assets with indefinite lives for impairment annually or when conditions indicate impairment may have occurred. We perform such testing of our indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Advertising&lt;/i&gt;&lt;/b&gt; - We expense advertising costs as incurred. Advertising expense was approximately $9,869,000, $8,623,000, and $8,038,000 for 2015, 2014 and 2013, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Revenue Recognition&lt;/i&gt;&lt;/b&gt; -&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;Revenue and related cost of goods sold are recognized at the time products are shipped to the customer and title transfers. Revenue is recorded net of estimated sales discounts and returns based upon specific customer agreements and historical trends. Net sales include royalty income from licensing our brands.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Shipping Costs&lt;/i&gt;&lt;/b&gt; - In accordance with the accounting standard for revenue recognition, all shipping costs billed to customers have been included in net sales. All outbound shipping costs to customers has been included in selling, general and administrative costs and totaled approximately $8,500,000, $9,254,000 and $8,294,000 in 2015, 2014 and 2013, respectively. Our gross profit may not be comparable to other entities whose shipping and handling is a component of cost of sales.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Per Share Information&lt;/i&gt;&lt;/b&gt; - Basic net income per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed similarly but includes the dilutive effect of stock options. A reconciliation of the shares used in the basic and diluted income per share computations is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 61%&quot;&gt;Basic - weighted average shares outstanding&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;7,563,205&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;7,544,936&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;7,517,364&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Dilutive restricted share units&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9,987&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,845&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Dilutive stock options&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;980&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Diluted - weighted average shares outstanding&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;7,574,172&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;7,547,781&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;7,517,364&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Anti-Dilutive securities - stock options&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;84,210&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;43,029&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8,630&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Comprehensive Income&lt;/i&gt;&lt;/b&gt; - Comprehensive income includes changes in equity that result from transactions and economic events from non-core operations. Comprehensive income is composed of two subsets &amp;#x2013; net income and other comprehensive income.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Fair Value Measurements&lt;/i&gt;&lt;/b&gt; &amp;#x2013; The fair value accounting standard defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This standard clarifies how to measure fair value as permitted under other accounting pronouncements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The fair value accounting standard defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. This standard also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0.45in&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 0.25in&quot;&gt;&lt;font style=&quot;font-family: Symbol&quot;&gt;&amp;middot;&lt;/font&gt;&lt;/td&gt;
     &lt;td&gt;Level 1 &amp;#x2013; Quoted prices in active markets for identical assets or liabilities.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0.45in&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 0.25in&quot;&gt;&lt;font style=&quot;font-family: Symbol&quot;&gt;&amp;middot;&lt;/font&gt;&lt;/td&gt;
     &lt;td&gt;Level 2 &amp;#x2013; Observable inputs other than quoted market prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0.45in&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 0.25in&quot;&gt;&lt;font style=&quot;font-family: Symbol&quot;&gt;&amp;middot;&lt;/font&gt;&lt;/td&gt;
     &lt;td&gt;Level 3 &amp;#x2013; Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;The fair values of cash, accounts receivable, other receivables and accounts payable approximated their carrying values because of the short-term nature of these instruments. Accounts receivable consists primarily of amounts due from our customers, net of allowances. Other receivables consist primarily of amounts due from employees (sales persons&amp;#x2019; advances in excess of commissions earned and employee travel advances); other customer receivables, net of allowances; and expected insurance recoveries. The carrying amounts of our revolving line of credit and other short-term financing obligations also approximate fair value, as they are comparable to the available financing in the marketplace during the year.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of an Entity. The amendments in this update change the requirements for reporting discontinued operations in Subtopic 205-20. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity&amp;#x2019;s operations and financial results when any of the following occurs: 1. The component of an entity or group of components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. 2. The component of an entity or group of components of an entity is disposed of by sale. 3. The component of an entity or group of components of an entity is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff). The update is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. The adoption of this standard did not have an effect on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The amendments in this update supersede the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition&amp;#x2014;Construction-Type and Production-Type Contracts, and create new Subtopic 340-40, Other Assets and Deferred Costs&amp;#x2014;Contracts with Customers. In summary, the core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14. The amendments in this update defer the effective date of Update 2014-09. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In June 2014, the FASB issued ASU No. 2014-12, Compensation &amp;#x2013; Stock Compensation (Topic 718). Some share-based payment awards that require a specific performance target to be achieved before the employee can benefit from the award, also require an employee to render service until the performance target is achieved. In some cases, the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. That is, the employee would be entitled to benefit from the award regardless of whether the employee is rendering service on the date the performance target is achieved. Some entities account for those performance targets as performance conditions that affect the vesting of the award and, therefore, do not reflect the performance target in the estimate of the grant-date fair value. Others treat them as nonvesting conditions that affect the grant-date fair value of the award. The amendments apply to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target can be achieved after the requisite service period. The update is effective for public entities for annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements &amp;#x2013; Going Concern (Subtopic 205-40). Currently, there is no guidance in GAAP about management&amp;#x2019;s responsibility to evaluate whether there is substantial doubt about an entity&amp;#x2019;s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this update provide that guidance. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity&amp;#x2019;s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term &lt;i&gt;substantial doubt, &lt;/i&gt;(2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management&amp;#x2019;s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management&amp;#x2019;s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The update is effective for public entities for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In January 2015, the FASB issued ASU No. 2015-01, Income Statement &amp;#x2013; Extraordinary and Unusual Items (Subtopic 225-20). The objective of this update is to simplify the income statement presentation requirements in Subtopic 225-20 by eliminating the concept of extraordinary items. Extraordinary items are events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence. Eliminating the extraordinary classification simplifies income statement presentation by altogether removing the concept of extraordinary items from consideration. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In April 2015, the FASB issued ASU No. 2015-03, Interest &amp;#x2013; Imputation of Interest (Subtopic 835-30). The objective of this update is to simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The amendments in this update are effective for fiscal years beginning after December 15, 2015. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information that has been retrospectively adjusted, and the effect of the change on the financial statement line items (that is, debt issuance cost asset and the debt liability). We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330). The amendments in this Update require an entity to measure inventory within the scope of this Update at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this Update more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In November 2015, the FASB issued ASU No. 2015-17, Income Taxes - Balance Sheet Classification of Deferred Taxes (Topic 740). The amendments in this Update will simplify the presentation of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this Update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this Update. For public business entities, the amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this Update will require lessees to recognize (with the exception of short-term leases) a lease liability, which is a lessee&amp;#x2018;s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee&amp;#x2019;s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. For public business entities, the amendments in this Update are effective for years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted for all entities upon issuance. We have not yet determined the impact this ASU will have on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:AllowanceForDoubtfulAccountsReceivable unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">820000</us-gaap:AllowanceForDoubtfulAccountsReceivable>
  <us-gaap:AllowanceForDoubtfulAccountsReceivable unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">1002000</us-gaap:AllowanceForDoubtfulAccountsReceivable>
  <us-gaap:AdvertisingExpense unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">9869000</us-gaap:AdvertisingExpense>
  <us-gaap:AdvertisingExpense unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">8623000</us-gaap:AdvertisingExpense>
  <us-gaap:AdvertisingExpense unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">8038000</us-gaap:AdvertisingExpense>
  <us-gaap:ShippingHandlingAndTransportationCosts unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">8500000</us-gaap:ShippingHandlingAndTransportationCosts>
  <us-gaap:ShippingHandlingAndTransportationCosts unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">9254000</us-gaap:ShippingHandlingAndTransportationCosts>
  <us-gaap:ShippingHandlingAndTransportationCosts unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">8294000</us-gaap:ShippingHandlingAndTransportationCosts>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 61%&quot;&gt;Basic - weighted average shares outstanding&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;7,563,205&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;7,544,936&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;7,517,364&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Dilutive restricted share units&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9,987&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,845&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Dilutive stock options&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;980&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Diluted - weighted average shares outstanding&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;7,574,172&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;7,547,781&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;7,517,364&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Anti-Dilutive securities - stock options&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;84,210&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;43,029&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8,630&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">9987</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">2845</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:IncrementalCommonSharesAttributableToWrittenPutOptions unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">980</us-gaap:IncrementalCommonSharesAttributableToWrittenPutOptions>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">84210</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">43029</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c4_From1Jan2013To31Dec2013" decimals="INF">8630</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:InventoryDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top; text-align: justify&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt; text-align: left&quot;&gt;2.&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;INVENTORIES&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Inventories are comprised of the following:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 74%; text-align: left&quot;&gt;Raw materials&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;12,494,980&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;11,702,762&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Work-in-process&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,155,837&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;577,127&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Finished goods&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;63,340,242&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;72,957,153&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;76,991,059&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;85,237,042&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:InventoryRelatedText contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 74%; text-align: left&quot;&gt;Raw materials&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;12,494,980&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;11,702,762&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Work-in-process&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,155,837&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;577,127&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Finished goods&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;63,340,242&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;72,957,153&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;76,991,059&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;85,237,042&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:InventoryRelatedText>
  <us-gaap:InventoryRawMaterialsAndSupplies unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">12494980</us-gaap:InventoryRawMaterialsAndSupplies>
  <us-gaap:InventoryRawMaterialsAndSupplies unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">11702762</us-gaap:InventoryRawMaterialsAndSupplies>
  <us-gaap:InventoryWorkInProcess unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">1155837</us-gaap:InventoryWorkInProcess>
  <us-gaap:InventoryWorkInProcess unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">577127</us-gaap:InventoryWorkInProcess>
  <us-gaap:InventoryFinishedGoods unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">63340242</us-gaap:InventoryFinishedGoods>
  <us-gaap:InventoryFinishedGoods unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">72957153</us-gaap:InventoryFinishedGoods>
  <us-gaap:IntangibleAssetsDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;3.&lt;/td&gt;
     &lt;td&gt;IDENTIFIED INTANGIBLE ASSETS&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;A schedule of identified intangible assets is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 30pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Gross&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Accumulated&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Carrying&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; border-bottom: Black 1pt solid&quot;&gt;December 31, 2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Amount&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Amortization&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Amount&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Trademarks&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Patents&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,595,477&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,324,515&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;270,962&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Customer Relationships&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;2,200,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,166,667&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,033,333&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;Total Intangibles&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;40,039,055&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,491,182&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;36,547,873&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table style=&quot;font: 10pt/normal Times New Roman, Times, Serif; width: 90%; margin-left: 30pt; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom;&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom;&quot;&gt;
     &lt;td style=&quot;font-weight: bold; border-bottom: Black 1pt solid;&quot; nowrap=&quot;nowrap&quot;&gt;December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: #cceeff;&quot;&gt;
     &lt;td&gt;Trademarks&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; &quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt;&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td style=&quot;width: 1%;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right;&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right;&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right;&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt;&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; &quot;&gt;
     &lt;td&gt;Patents&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,594,301&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,269,569&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;324,732&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt;&quot;&gt;Customer Relationships&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right;&quot;&gt;2,200,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right;&quot;&gt;1,086,666&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right;&quot;&gt;1,113,334&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; &quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;&quot;&gt;Total Intangibles&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right;&quot;&gt;40,037,879&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right;&quot;&gt;3,356,235&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right;&quot;&gt;36,681,644&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt&quot;&gt;Amortization expense related to finite-lived intangible assets was approximately $135,000, $135,000 and $60,000 in 2015, 2014 and 2013, respectively. Such amortization expense will be approximately $121,000 per year for 2016 through 2020. The increase in 2015 and 2014 was attributed to the additional amortization related to the additional customer relationship from the acquisition of the Creative Recreation business as noted in Note 15.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt&quot;&gt;The weighted average lives of patents and customer relationships are 6 years.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt&quot;&gt;Intangible assets, including trademarks and patents are reviewed for impairment annually, and more frequently, if necessary. We perform such testing of indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of the asset below its carrying amount. Fair value of other indefinite-lived intangible assets is determined using the relief from royalty method.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;In assessing whether indefinite-lived intangible assets are impaired, we must make certain estimates and assumptions regarding future cash flows, long-term growth rates of our business, operating margins, weighted average cost of capital and other factors such as; discount rates, royalty rates, cost of capital, and market multiples to determine the fair value of our assets. These estimates and assumptions require management&amp;#x2019;s judgment, and changes to these estimates and assumptions could materially affect the determination of fair value and/or impairment for each of our indefinite-lived intangible assets. Future events could cause us to conclude that indications of intangible asset impairment exist. Impairment may result from, among other things, deterioration in the performance of our business, adverse market conditions, adverse changes in applicable laws and regulations, competition, or the sale or disposition of a reporting segment. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;We evaluate our finite and indefinite lived trademarks under the terms and provisions of the accounting standards for &amp;#x201c;Intangibles - Goodwill and Other&amp;#x201d;; and &amp;#x201c;Property, Plant and Equipment.&amp;#x201d; These pronouncements require that we compare the fair value of an intangible asset with its carrying amount. Our 2015 and 2014 evaluation did not result in the impairment of any of our indefinite lived intangible assets.&lt;/p&gt;&lt;br/&gt;</us-gaap:IntangibleAssetsDisclosureTextBlock>
  <us-gaap:AmortizationOfIntangibleAssets unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">135000</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:AmortizationOfIntangibleAssets unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">135000</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:AmortizationOfIntangibleAssets unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">60000</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">121000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths>
  <us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 30pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Gross&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Accumulated&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Carrying&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; border-bottom: Black 1pt solid&quot;&gt;December 31, 2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Amount&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Amortization&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Amount&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Trademarks&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Patents&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,595,477&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,324,515&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;270,962&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Customer Relationships&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;2,200,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,166,667&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,033,333&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;Total Intangibles&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;40,039,055&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,491,182&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;36,547,873&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;font: 10pt/normal Times New Roman, Times, Serif; width: 90%; margin-left: 30pt; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom;&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom;&quot;&gt;
     &lt;td style=&quot;font-weight: bold; border-bottom: Black 1pt solid;&quot; nowrap=&quot;nowrap&quot;&gt;December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid;&quot; colspan=&quot;2&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold;&quot; nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: #cceeff;&quot;&gt;
     &lt;td&gt;Trademarks&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; &quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt;&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td style=&quot;width: 1%;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right;&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right;&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right;&quot;&gt;32,343,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt;&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,900,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; &quot;&gt;
     &lt;td&gt;Patents&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,594,301&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;2,269,569&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right;&quot;&gt;324,732&lt;/td&gt;
     &lt;td style=&quot;text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt;&quot;&gt;Customer Relationships&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right;&quot;&gt;2,200,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right;&quot;&gt;1,086,666&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right;&quot;&gt;1,113,334&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; &quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;&quot;&gt;Total Intangibles&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right;&quot;&gt;40,037,879&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right;&quot;&gt;3,356,235&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left;&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right;&quot;&gt;36,681,644&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c29_AsOf31Dec2015_Wholesale_Member" decimals="0">32343578</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c30_AsOf31Dec2015_Carrying_Amount_Member_Wholesale_Member" decimals="0">32343578</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c31_AsOf31Dec2015_Retail_Member" decimals="0">2900000</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c32_AsOf31Dec2015_Carrying_Amount_Member_Retail_Member" decimals="0">2900000</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c33_AsOf31Dec2015_PatentsMember" decimals="0">2595477</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c34_AsOf31Dec2015_Accumulated_Amortization_Member_PatentsMember" decimals="0">2324515</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c35_AsOf31Dec2015_Carrying_Amount_Member_PatentsMember" decimals="0">270962</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c36_AsOf31Dec2015_CustomerRelationshipsMember" decimals="0">2200000</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c37_AsOf31Dec2015_Accumulated_Amortization_Member_CustomerRelationshipsMember" decimals="0">1166667</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c38_AsOf31Dec2015_Carrying_Amount_Member_CustomerRelationshipsMember" decimals="0">1033333</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross unitRef="usd" contextRef="c36_AsOf31Dec2015_CustomerRelationshipsMember" decimals="0">40039055</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross unitRef="usd" contextRef="c37_AsOf31Dec2015_Accumulated_Amortization_Member_CustomerRelationshipsMember" decimals="0">3491182</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross unitRef="usd" contextRef="c38_AsOf31Dec2015_Carrying_Amount_Member_CustomerRelationshipsMember" decimals="0">36547873</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c39_AsOf31Dec2014_Wholesale_Member" decimals="0">32343578</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c40_AsOf31Dec2014_Carrying_Amount_Member_Wholesale_Member" decimals="0">32343578</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c41_AsOf31Dec2014_Retail_Member" decimals="0">2900000</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:IndefiniteLivedTrademarks unitRef="usd" contextRef="c42_AsOf31Dec2014_Carrying_Amount_Member_Retail_Member" decimals="0">2900000</us-gaap:IndefiniteLivedTrademarks>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c43_AsOf31Dec2014_PatentsMember" decimals="0">2594301</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c44_AsOf31Dec2014_Accumulated_Amortization_Member_PatentsMember" decimals="0">2269569</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c45_AsOf31Dec2014_Carrying_Amount_Member_PatentsMember" decimals="0">324732</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c46_AsOf31Dec2014_CustomerRelationshipsMember" decimals="0">2200000</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c47_AsOf31Dec2014_Accumulated_Amortization_Member_CustomerRelationshipsMember" decimals="0">1086666</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedPatentsGross unitRef="usd" contextRef="c48_AsOf31Dec2014_Carrying_Amount_Member_CustomerRelationshipsMember" decimals="0">1113334</us-gaap:FiniteLivedPatentsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross unitRef="usd" contextRef="c46_AsOf31Dec2014_CustomerRelationshipsMember" decimals="0">40037879</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross unitRef="usd" contextRef="c47_AsOf31Dec2014_Accumulated_Amortization_Member_CustomerRelationshipsMember" decimals="0">3356235</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross unitRef="usd" contextRef="c48_AsOf31Dec2014_Carrying_Amount_Member_CustomerRelationshipsMember" decimals="0">36681644</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:OtherAssetsDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;4.&lt;/td&gt;
     &lt;td&gt;OTHER ASSETS&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify&quot;&gt;Other assets consist of the following:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; padding-bottom: 1pt&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 74%; text-align: left&quot;&gt;Deferred financing costs, net&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;120,403&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;151,144&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;Other&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;138,409&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;148,346&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;258,812&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;299,490&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</us-gaap:OtherAssetsDisclosureTextBlock>
  <us-gaap:ScheduleOfOtherAssetsTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; padding-bottom: 1pt&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 74%; text-align: left&quot;&gt;Deferred financing costs, net&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;120,403&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;151,144&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;Other&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;138,409&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;148,346&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;258,812&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;299,490&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfOtherAssetsTableTextBlock>
  <us-gaap:DeferredFinanceCostsNoncurrentNet unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">120403</us-gaap:DeferredFinanceCostsNoncurrentNet>
  <us-gaap:DeferredFinanceCostsNoncurrentNet unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">151144</us-gaap:DeferredFinanceCostsNoncurrentNet>
  <us-gaap:OtherAssets unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">138409</us-gaap:OtherAssets>
  <us-gaap:OtherAssets unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">148346</us-gaap:OtherAssets>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;5.&lt;/td&gt;
     &lt;td&gt;FIXED ASSETS&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Fixed assets are comprised of the following:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 74%&quot;&gt;Land&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;671,035&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;671,035&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Buildings&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,247,770&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,027,998&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Machinery and equipment&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;40,611,815&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;39,206,408&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Furniture and fixtures&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,722,751&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,491,295&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Lasts, dies and patterns&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13,811,676&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;12,131,234&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Construction work-in-progress&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;3,161,533&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;281,198&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Total&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;80,226,580&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;73,809,168&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Less - accumulated depreciation&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(52,390,053&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(47,544,527&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Net Fixed Assets&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;27,836,527&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;26,264,641&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We incurred approximately $7,053,000, $6,807,000 and $6,204,000 in depreciation expense for 2015, 2014 and 2013, respectively.&lt;/p&gt;&lt;br/&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:Depreciation unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">7053000</us-gaap:Depreciation>
  <us-gaap:Depreciation unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">6807000</us-gaap:Depreciation>
  <us-gaap:Depreciation unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">6204000</us-gaap:Depreciation>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 74%&quot;&gt;Land&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;671,035&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;671,035&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Buildings&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,247,770&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,027,998&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Machinery and equipment&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;40,611,815&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;39,206,408&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Furniture and fixtures&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,722,751&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,491,295&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Lasts, dies and patterns&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13,811,676&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;12,131,234&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Construction work-in-progress&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;3,161,533&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;281,198&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Total&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;80,226,580&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;73,809,168&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Less - accumulated depreciation&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(52,390,053&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(47,544,527&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Net Fixed Assets&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;27,836,527&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;26,264,641&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:Land unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">671035</us-gaap:Land>
  <us-gaap:Land unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">671035</us-gaap:Land>
  <us-gaap:BuildingsAndImprovementsGross unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">19247770</us-gaap:BuildingsAndImprovementsGross>
  <us-gaap:BuildingsAndImprovementsGross unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">19027998</us-gaap:BuildingsAndImprovementsGross>
  <us-gaap:MachineryAndEquipmentGross unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">40611815</us-gaap:MachineryAndEquipmentGross>
  <us-gaap:MachineryAndEquipmentGross unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">39206408</us-gaap:MachineryAndEquipmentGross>
  <us-gaap:FurnitureAndFixturesGross unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">2722751</us-gaap:FurnitureAndFixturesGross>
  <us-gaap:FurnitureAndFixturesGross unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">2491295</us-gaap:FurnitureAndFixturesGross>
  <us-gaap:PropertyPlantAndEquipmentOther unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">13811676</us-gaap:PropertyPlantAndEquipmentOther>
  <us-gaap:PropertyPlantAndEquipmentOther unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">12131234</us-gaap:PropertyPlantAndEquipmentOther>
  <us-gaap:ConstructionInProgressGross unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">3161533</us-gaap:ConstructionInProgressGross>
  <us-gaap:ConstructionInProgressGross unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">281198</us-gaap:ConstructionInProgressGross>
  <us-gaap:PropertyPlantAndEquipmentGross unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">80226580</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">73809168</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">52390053</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">47544527</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:DebtDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;6.&lt;/td&gt;
     &lt;td&gt;LONG-TERM DEBT&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;In October 2010, we entered into a financing agreement with PNC Bank (&amp;#x201c;PNC&amp;#x201d;) to provide a $70 million credit facility. In December 2014, we amended and restated the credit facility to increase the facility to $75 million and extend the term of the facility an additional five years. The credit facility&amp;#x2019;s base interest rate is the current prime rate less 0.25%, however the credit facility provides us the option to borrow on up to eight fixed loans at LIBOR plus 1.25% in accordance with the 2014 amended and restated credit agreement. The LIBOR rate is determined based on the fixed loan maturities, which vary from 30, 60, 90, or 180 days. As of December 31, 2015 and December 31, 2014, we had approximately $17.0 million and $35.0 million, respectively, in fixed LIBOR borrowings under the credit facility.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify&quot;&gt;The total amount available under our amended and restated revolving credit facility is subject to a borrowing base calculation based on various percentages of accounts receivable and inventory. As of December 31, 2015, we had $23.7 million in borrowings under this facility and total capacity of $66.3 million.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify&quot;&gt;Our amended and restated credit facility contains a restrictive covenant which requires us to maintain a fixed charge coverage ratio. This restrictive covenant is only in effect upon a triggering event taking place (as defined in the amended and restated credit facility agreement). At December 31, 2015, there was no triggering event and the covenant was not in effect. Our amended and restated credit facility places a restriction on the amount of dividends that may be paid. During 2015, 2014 and 2013, we paid dividends on our common stock totaling $3,252,254, $3,017,979 and $2,254,935, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify&quot;&gt;Our amended and restated revolving credit facility matures in November 2019. We have no other long-term debt maturities.&lt;/p&gt;&lt;br/&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="-6">70000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="-6">75000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInterestRateDuringPeriod unitRef="pure" contextRef="c2_From1Jan2015To31Dec2015" decimals="4">0.0025</us-gaap:LineOfCreditFacilityInterestRateDuringPeriod>
  <us-gaap:LineOfCreditFacilityInterestRateAtPeriodEnd unitRef="pure" contextRef="c0_AsOf31Dec2015" decimals="4">0.0125</us-gaap:LineOfCreditFacilityInterestRateAtPeriodEnd>
  <rcky:Libor_Loan unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="-5">17000000</rcky:Libor_Loan>
  <rcky:Libor_Loan unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="-5">35000000</rcky:Libor_Loan>
  <us-gaap:LineOfCreditFacilityAmountOutstanding unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="-5">23700000</us-gaap:LineOfCreditFacilityAmountOutstanding>
  <us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="-5">66300000</us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity>
  <us-gaap:DividendsCommonStock unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">3252254</us-gaap:DividendsCommonStock>
  <us-gaap:DividendsCommonStock unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">3017979</us-gaap:DividendsCommonStock>
  <us-gaap:DividendsCommonStock unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">2254935</us-gaap:DividendsCommonStock>
  <us-gaap:OperatingLeasesOfLesseeDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;7.&lt;/td&gt;
     &lt;td&gt;OPERATING LEASES&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We lease certain machinery, trucks, and facilities under operating leases that generally provide for renewal options. We incurred approximately $1,335,000, $1,324,000 and $840,000 in rent expense under operating lease arrangements for 2015, 2014 and 2013, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Future minimum lease payments under non-cancelable operating leases are approximately as follows for the years ended December 31:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%; text-align: justify&quot;&gt;2016&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;1,205,000&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2017&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,129,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2018&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;620,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2019&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;110,143&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify; padding-bottom: 1pt&quot;&gt;2020&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: justify&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,064,143&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</us-gaap:OperatingLeasesOfLesseeDisclosureTextBlock>
  <us-gaap:OperatingLeasesRentExpenseNet unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">1335000</us-gaap:OperatingLeasesRentExpenseNet>
  <us-gaap:OperatingLeasesRentExpenseNet unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">1324000</us-gaap:OperatingLeasesRentExpenseNet>
  <us-gaap:OperatingLeasesRentExpenseNet unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">840000</us-gaap:OperatingLeasesRentExpenseNet>
  <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%; text-align: justify&quot;&gt;2016&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;1,205,000&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2017&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,129,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2018&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;620,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2019&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;110,143&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify; padding-bottom: 1pt&quot;&gt;2020&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: justify&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,064,143&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
  <us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent unitRef="usd" contextRef="c49_AsOf31Dec2016" decimals="0">1205000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent>
  <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears unitRef="usd" contextRef="c50_AsOf31Dec2017" decimals="0">1129000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears>
  <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears unitRef="usd" contextRef="c51_AsOf31Dec2018" decimals="0">620000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears>
  <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears unitRef="usd" contextRef="c52_AsOf31Dec2019" decimals="0">110143</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears>
  <us-gaap:OperatingLeasesFutureMinimumPaymentsDue unitRef="usd" contextRef="c52_AsOf31Dec2019" decimals="0">3064143</us-gaap:OperatingLeasesFutureMinimumPaymentsDue>
  <us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0%&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;8.&lt;/td&gt;
     &lt;td&gt;RETIREMENT PLANS&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We also sponsor a 401(k) savings plan for substantially all of our employees. We provide a contribution of 3% of applicable salary to the plan for all employees with greater than six months of service. Additionally, we match eligible employee contributions at a rate of 0.25%, per one percent of applicable salary contributed to the plan by the employee. This matching contribution will be made by us up to a maximum of 1% of the employee&amp;#x2019;s applicable salary for all qualified employees. Our contributions to the 401(k) plan were approximately $1.0 million in 2015, $1.0 million in 2014 and $0.9 million in 2013.&lt;/p&gt;&lt;br/&gt;</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
  <us-gaap:DefinedContributionPlanCostRecognized unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="-5">1000000</us-gaap:DefinedContributionPlanCostRecognized>
  <us-gaap:DefinedContributionPlanCostRecognized unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="-5">1000000</us-gaap:DefinedContributionPlanCostRecognized>
  <us-gaap:DefinedContributionPlanCostRecognized unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="-5">900000</us-gaap:DefinedContributionPlanCostRecognized>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0%&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;&lt;b&gt;9.&lt;/b&gt;&lt;/td&gt;
     &lt;td&gt;&lt;b&gt;INCOME TAXES&lt;/b&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The Company accounts for income taxes in accordance with the accounting standard for &amp;#x201c;Income Taxes&amp;#x201d;, which requires an asset and liability approach to financial accounting and reporting for income taxes. Accordingly, deferred income taxes have been provided for the temporary differences between the financial reporting and the income tax basis of the Company&amp;#x2019;s assets and liabilities by applying enacted statutory tax rates applicable to future years to the basis differences.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;A breakdown of our income tax expense is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Federal:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt&quot;&gt;Current&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;2,656,870&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;3,656,356&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;2,540,701&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Deferred&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;287,755&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;848,666&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;778,213&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total Federal&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,944,625&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,505,022&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,318,914&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;State &amp;amp; local:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Current&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;81,433&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;203,144&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;109,254&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Deferred&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;86,863&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;140,552&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(29,619&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total State &amp;amp; local&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;168,296&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;343,696&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;79,635&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Foreign&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Current&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13,391&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;46,911&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;42,450&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Deferred&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(41,969&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;255&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,769&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in; padding-bottom: 1pt&quot;&gt;Total Foreign&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(28,578&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;47,166&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;44,219&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,084,343&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;4,895,884&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,442,768&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;A reconciliation of recorded Federal income tax expense to the expected expense computed by applying the applicable Federal statutory rate for all periods to income before income taxes follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 61%; text-align: left&quot;&gt;Expected expense at statutory rate&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;3,404,159&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;5,147,234&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;3,775,418&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Increase (decrease) in income taxes resulting from:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; text-indent: -0.1in; padding-left: 0.1in&quot;&gt;Exempt income from Dominican Republic operations due to tax holiday&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(2,816,963&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(3,477,301&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,871,847&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; text-indent: -0.1in; padding-left: 0.1in&quot;&gt;Tax on repatriated earnings from Dominican Republic operations&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,556,940&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,090,036&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,592,238&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Impact of Canadian deemed dividend&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;12,703&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9,712&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;State and local income taxes&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;67,886&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;284,838&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;45,948&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Section 199 manufacturing deduction&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(194,498&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(135,690&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(51,396&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Meals and entertainment&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;98,082&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;91,475&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;76,465&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Nondeductible penalties&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;5,998&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,563&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,500&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Provision to return filing adjustments and other&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(37,261&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(118,974&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(135,270&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,084,343&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;4,895,884&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,442,768&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Deferred income taxes recorded in the consolidated balance sheets at December 31, 2015 and 2014 consist of the following:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Deferred tax assets:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 74%; text-align: left; padding-left: 9pt&quot;&gt;Asset valuation allowances and accrued expenses&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;510,798&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;776,416&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Inventories&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;563,815&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;705,028&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;State and local income taxes&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;425,179&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;394,776&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Pension and deferred compensation&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;72,004&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;80,969&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Net operating losses&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;650,620&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;575,702&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total deferred tax assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,222,416&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,532,891&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Valuation allowances&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(569,459&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(569,881&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total deferred tax assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,652,957&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,963,010&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Deferred tax liabilities:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Fixed assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,655,838&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,736,042&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Intangible assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(11,185,988&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(11,001,289&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Other assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(400,651&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(482,549&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Tollgate tax on Lifestyle earnings&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(379,271&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(379,271&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in; padding-bottom: 1pt&quot;&gt;Total deferred tax liabilities&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(13,621,748&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(13,599,151&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Net deferred tax liability&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,968,791&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,636,141&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Deferred income taxes - current&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,031,818&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,291,907&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Deferred income taxes - non-current&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(13,000,609&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(12,928,048&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,968,791&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,636,141&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The valuation allowance is related to certain state and local income tax net operating loss carry forwards.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We have provided Puerto Rico tollgate taxes on approximately $3,684,000 of accumulated undistributed earnings of Lifestyle prior to the fiscal year ended June 30, 1994, that would be payable if such earnings were repatriated to the United States. In 2001, we received abatement for Puerto Rico tollgate taxes on all earnings subsequent to June 30, 1994, thus no other provision for tollgate tax has been made on earnings after that date. If we repatriate the earnings from Lifestyle, approximately $379,000 of tollgate tax would be due.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;As of December 31, 2015, we had approximately $18,323,000 of undistributed earnings from non-U.S. subsidiaries that are intended to be permanently reinvested in non-U.S. operations. Because these earnings are considered permanently reinvested, no U.S. tax provision has been accrued related to the repatriation of these earnings. If the Five Star undistributed earnings were distributed to the Company in the form of dividends, the related taxes on such distributions would be approximately $6,413,000.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We file income tax returns in the U.S. Federal jurisdiction and various state and foreign jurisdictions. We are no longer subject to U.S. Federal tax examinations for years before 2012. In 2014, we were subjected to an IRS examination for our consolidated U.S. Federal return for the year 2011. There were no adjustments to our return as a result of that examination. State jurisdictions that remain subject to examination range from 2011 to 2015. Foreign jurisdiction (Canada and Puerto Rico) tax returns that remain subject to examination range from 2010 to 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Our policy is to accrue interest and penalties on any uncertain tax position as a component of income tax expense. As of December 31, 2015 no such expenses were recognized during the year. We do not believe there will be any material changes in our uncertain tax positions over the next 12 months.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Accounting for uncertainty in income taxes requires financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise&amp;#x2019;s financial statements.&amp;nbsp; Under this guidance, income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized upon the adoption of the standard.&amp;nbsp; The Company did not have any unrecognized tax benefits and there was no effect on its financial condition or results of operations as a result of implementing this standard.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:UndistributedEarningsOfDomesticSubsidiaries unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">3684000</us-gaap:UndistributedEarningsOfDomesticSubsidiaries>
  <us-gaap:TaxesPayableCurrentAndNoncurrent unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">379000</us-gaap:TaxesPayableCurrentAndNoncurrent>
  <us-gaap:UndistributedEarningsOfForeignSubsidiaries unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">18323000</us-gaap:UndistributedEarningsOfForeignSubsidiaries>
  <us-gaap:LiabilityForUncertainTaxPositionsNoncurrent unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">6413000</us-gaap:LiabilityForUncertainTaxPositionsNoncurrent>
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  <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Federal:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt&quot;&gt;Current&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;2,656,870&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;3,656,356&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;2,540,701&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Deferred&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;287,755&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;848,666&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;778,213&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total Federal&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,944,625&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,505,022&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,318,914&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;State &amp;amp; local:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Current&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;81,433&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;203,144&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;109,254&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Deferred&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;86,863&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;140,552&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(29,619&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total State &amp;amp; local&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;168,296&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;343,696&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;79,635&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Foreign&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Current&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13,391&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;46,911&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;42,450&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Deferred&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(41,969&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;255&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,769&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in; padding-bottom: 1pt&quot;&gt;Total Foreign&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(28,578&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;47,166&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;44,219&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,084,343&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;4,895,884&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,442,768&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
  <us-gaap:CurrentFederalTaxExpenseBenefit unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">2656870</us-gaap:CurrentFederalTaxExpenseBenefit>
  <us-gaap:CurrentFederalTaxExpenseBenefit unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">3656356</us-gaap:CurrentFederalTaxExpenseBenefit>
  <us-gaap:CurrentFederalTaxExpenseBenefit unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">2540701</us-gaap:CurrentFederalTaxExpenseBenefit>
  <us-gaap:DeferredFederalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">287755</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
  <us-gaap:DeferredFederalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">848666</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
  <us-gaap:DeferredFederalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">778213</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
  <us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">2944625</us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">4505022</us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">3318914</us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:CurrentStateAndLocalTaxExpenseBenefit unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">81433</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
  <us-gaap:CurrentStateAndLocalTaxExpenseBenefit unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">203144</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
  <us-gaap:CurrentStateAndLocalTaxExpenseBenefit unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">109254</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
  <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">86863</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
  <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">140552</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
  <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">-29619</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
  <us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">168296</us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">343696</us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">79635</us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:CurrentForeignTaxExpenseBenefit unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">13391</us-gaap:CurrentForeignTaxExpenseBenefit>
  <us-gaap:CurrentForeignTaxExpenseBenefit unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">46911</us-gaap:CurrentForeignTaxExpenseBenefit>
  <us-gaap:CurrentForeignTaxExpenseBenefit unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">42450</us-gaap:CurrentForeignTaxExpenseBenefit>
  <us-gaap:DeferredForeignIncomeTaxExpenseBenefit unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">-41969</us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
  <us-gaap:DeferredForeignIncomeTaxExpenseBenefit unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">255</us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
  <us-gaap:DeferredForeignIncomeTaxExpenseBenefit unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">1769</us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
  <us-gaap:ForeignIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">-28578</us-gaap:ForeignIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:ForeignIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">47166</us-gaap:ForeignIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:ForeignIncomeTaxExpenseBenefitContinuingOperations unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">44219</us-gaap:ForeignIncomeTaxExpenseBenefitContinuingOperations>
  <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 61%; text-align: left&quot;&gt;Expected expense at statutory rate&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;3,404,159&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;5,147,234&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;3,775,418&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Increase (decrease) in income taxes resulting from:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; text-indent: -0.1in; padding-left: 0.1in&quot;&gt;Exempt income from Dominican Republic operations due to tax holiday&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(2,816,963&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(3,477,301&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,871,847&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; text-indent: -0.1in; padding-left: 0.1in&quot;&gt;Tax on repatriated earnings from Dominican Republic operations&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,556,940&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,090,036&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,592,238&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Impact of Canadian deemed dividend&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;12,703&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9,712&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;State and local income taxes&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;67,886&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;284,838&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;45,948&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Section 199 manufacturing deduction&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(194,498&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(135,690&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(51,396&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Meals and entertainment&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;98,082&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;91,475&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;76,465&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Nondeductible penalties&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;5,998&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,563&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,500&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Provision to return filing adjustments and other&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(37,261&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(118,974&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(135,270&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,084,343&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;4,895,884&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,442,768&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">3404159</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">5147234</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">3775418</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationTaxHolidays unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">2816963</us-gaap:IncomeTaxReconciliationTaxHolidays>
  <us-gaap:IncomeTaxReconciliationTaxHolidays unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">3477301</us-gaap:IncomeTaxReconciliationTaxHolidays>
  <us-gaap:IncomeTaxReconciliationTaxHolidays unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">1871847</us-gaap:IncomeTaxReconciliationTaxHolidays>
  <us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">2556940</us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings>
  <us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">3090036</us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings>
  <us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">1592238</us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings>
  <us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">12703</us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential>
  <us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">9712</us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential>
  <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">67886</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">284838</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">45948</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:IncomeTaxReconciliationOtherAdjustments unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">-194498</us-gaap:IncomeTaxReconciliationOtherAdjustments>
  <us-gaap:IncomeTaxReconciliationOtherAdjustments unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">-135690</us-gaap:IncomeTaxReconciliationOtherAdjustments>
  <us-gaap:IncomeTaxReconciliationOtherAdjustments unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">-51396</us-gaap:IncomeTaxReconciliationOtherAdjustments>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">98082</us-gaap:IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">91475</us-gaap:IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">76465</us-gaap:IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseOther unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">5998</us-gaap:IncomeTaxReconciliationNondeductibleExpenseOther>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseOther unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">1563</us-gaap:IncomeTaxReconciliationNondeductibleExpenseOther>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseOther unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">1500</us-gaap:IncomeTaxReconciliationNondeductibleExpenseOther>
  <us-gaap:IncomeTaxReconciliationOtherReconcilingItems unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">-37261</us-gaap:IncomeTaxReconciliationOtherReconcilingItems>
  <us-gaap:IncomeTaxReconciliationOtherReconcilingItems unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">-118974</us-gaap:IncomeTaxReconciliationOtherReconcilingItems>
  <us-gaap:IncomeTaxReconciliationOtherReconcilingItems unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">-135270</us-gaap:IncomeTaxReconciliationOtherReconcilingItems>
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;6&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Deferred tax assets:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 74%; text-align: left; padding-left: 9pt&quot;&gt;Asset valuation allowances and accrued expenses&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;510,798&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;776,416&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Inventories&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;563,815&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;705,028&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;State and local income taxes&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;425,179&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;394,776&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Pension and deferred compensation&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;72,004&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;80,969&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Net operating losses&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;650,620&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;575,702&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total deferred tax assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,222,416&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,532,891&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Valuation allowances&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(569,459&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(569,881&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in&quot;&gt;Total deferred tax assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,652,957&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,963,010&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Deferred tax liabilities:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Fixed assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,655,838&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,736,042&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Intangible assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(11,185,988&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(11,001,289&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Other assets&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(400,651&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(482,549&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Tollgate tax on Lifestyle earnings&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(379,271&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(379,271&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 0.25in; padding-bottom: 1pt&quot;&gt;Total deferred tax liabilities&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(13,621,748&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(13,599,151&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Net deferred tax liability&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,968,791&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,636,141&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Deferred income taxes - current&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,031,818&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,291,907&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Deferred income taxes - non-current&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(13,000,609&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(12,928,048&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,968,791&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(11,636,141&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">510798</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">776416</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities>
  <us-gaap:DeferredTaxAssetsInventory unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">563815</us-gaap:DeferredTaxAssetsInventory>
  <us-gaap:DeferredTaxAssetsInventory unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">705028</us-gaap:DeferredTaxAssetsInventory>
  <us-gaap:DeferredTaxAssetsStateTaxes unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">425179</us-gaap:DeferredTaxAssetsStateTaxes>
  <us-gaap:DeferredTaxAssetsStateTaxes unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">394776</us-gaap:DeferredTaxAssetsStateTaxes>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">72004</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">80969</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions>
  <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">650620</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
  <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">575702</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
  <us-gaap:DeferredTaxAssetsGross unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">2222416</us-gaap:DeferredTaxAssetsGross>
  <us-gaap:DeferredTaxAssetsGross unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">2532891</us-gaap:DeferredTaxAssetsGross>
  <us-gaap:DeferredTaxAssetsValuationAllowance unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">569459</us-gaap:DeferredTaxAssetsValuationAllowance>
  <us-gaap:DeferredTaxAssetsValuationAllowance unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">569881</us-gaap:DeferredTaxAssetsValuationAllowance>
  <us-gaap:DeferredTaxAssetsNet unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">1652957</us-gaap:DeferredTaxAssetsNet>
  <us-gaap:DeferredTaxAssetsNet unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">1963010</us-gaap:DeferredTaxAssetsNet>
  <us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-1655838</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
  <us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-1736042</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
  <us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-11185988</us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets>
  <us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-11001289</us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets>
  <us-gaap:DeferredTaxLiabilitiesOtherFiniteLivedAssets unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-400651</us-gaap:DeferredTaxLiabilitiesOtherFiniteLivedAssets>
  <us-gaap:DeferredTaxLiabilitiesOtherFiniteLivedAssets unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-482549</us-gaap:DeferredTaxLiabilitiesOtherFiniteLivedAssets>
  <us-gaap:DeferredTaxLiabilitiesOther unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-379271</us-gaap:DeferredTaxLiabilitiesOther>
  <us-gaap:DeferredTaxLiabilitiesOther unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-379271</us-gaap:DeferredTaxLiabilitiesOther>
  <us-gaap:DeferredTaxLiabilitiesGrossNoncurrent unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-13621748</us-gaap:DeferredTaxLiabilitiesGrossNoncurrent>
  <us-gaap:DeferredTaxLiabilitiesGrossNoncurrent unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-13599151</us-gaap:DeferredTaxLiabilitiesGrossNoncurrent>
  <us-gaap:DeferredTaxLiabilities unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-11968791</us-gaap:DeferredTaxLiabilities>
  <us-gaap:DeferredTaxLiabilities unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-11636141</us-gaap:DeferredTaxLiabilities>
  <us-gaap:DeferredIncomeTaxesAndOtherAssetsCurrent unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-1031818</us-gaap:DeferredIncomeTaxesAndOtherAssetsCurrent>
  <us-gaap:DeferredIncomeTaxesAndOtherAssetsCurrent unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-1291907</us-gaap:DeferredIncomeTaxesAndOtherAssetsCurrent>
  <us-gaap:DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">-13000609</us-gaap:DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent>
  <us-gaap:DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">-12928048</us-gaap:DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top; text-align: justify&quot;&gt;
     &lt;td style=&quot;width: 0%&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt; text-align: left&quot;&gt;10.&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;COMMITMENTS AND CONTINGENCIES&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;We are, from time to time, a party to litigation which arises in the normal course of business. Although the ultimate resolution of pending proceedings cannot be determined, in the opinion of management, the resolution of such proceedings in the aggregate will not have a material adverse effect on our financial position, results of operations, or liquidity.&lt;/p&gt;&lt;br/&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top; text-align: justify&quot;&gt;
     &lt;td style=&quot;width: 0%&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt; text-align: left&quot;&gt;11.&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;CAPITAL STOCK AND STOCK BASED COMPENSATION&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;On May 7, 2014, our shareholders approved the 2014 Omnibus Incentive Plan (the &amp;#x201c;2014 Plan&amp;#x201d;). The 2014 Plan includes 500,000 of our common shares that may be granted under various types of awards as described in the 2014 Plan. As of December 31, 2015, we were authorized to issue 394,291 shares under this plan.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;Service Based Restricted Stock&lt;/b&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;In the first quarter of 2015, we issued 28,000 restricted stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $13.42 per unit, which was the closing price of our stock on the last trading date prior to the grant date. In August 2015, we issued 2,000 restricted stock units to a member of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest on the same basis as the restricted stock units issued in the first quarter of 2015. We valued the units at a fair value of $18.15 per unit, which was the closing price of our stock on the last trading date prior to the grant date. In the first quarter of 2014, we issued 23,000 shares of restricted stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $14.57 per unit, which was the closing price of our stock on the last trading date prior to the grant date. For the years ended December 31, 2015 and 2014, we recorded expense of $183,150 and $83,778, respectively, related to these restricted stock units.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;Performance Based Restricted Stock&lt;/b&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;In the first quarter of 2015, we made available up to 32,000 performance based restricted stock units to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2016. In August 2015, we made available up to 2,000 performance based restricted stock units to a member of our management. The shares underlying the performance based restricted stock units will be issued under the same criteria as the shares issued in the first quarter of 2015. For the year ended 2015, we did not record any expense related to the performance units as it is uncertain if we will reach the performance goals. In the first quarter of 2014, we made available up to 23,000 shares of performance based restricted stock units to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2015. For the years ended 2015 and 2014, we did not record any expense related to these restricted stock units as the performance goals were not achieved.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;Stock Options&lt;/b&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;In the first quarter of 2015, we issued 28,000 stock options to certain members of our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at $13.42 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $4.70 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 46.20%, a risk free interest rate of 1.92%, a dividend yield of 2.99% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In August 2015, we issued 2,000 stock options to a member of our management. These stock options vest in increments of 20% per year over the next five years, except for the first tranche of options that will vest on January 1, 2016. The options are exercisable at $18.15 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $5.95 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 40.32%, a risk free interest rate of 1.98%, a dividend yield of 2.46% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In the first quarter of 2014, we issued 23,000 shares of stock options to certain members of our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at $14.57 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $5.94 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 52.04%, a risk free interest rate of 2.41%, a dividend yield of 2.75% and an employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. For the years ended 2015 and 2014, we recorded expense of $54,828 and $27,324, respectively, related to these stock options.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;For the above issuances under the plan, we expect to recognize expense in the years 2016 through 2019 as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%; text-align: justify&quot;&gt;2016&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;215,585&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2017&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;206,246&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2018&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;132,463&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify; padding-bottom: 1pt&quot;&gt;2019&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;23,174&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: justify&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;577,468&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The following summarizes stock option transactions from January 1, 2014 through December 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Shares&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&amp;nbsp;&lt;br /&gt; Price&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Remaining&lt;br /&gt; Actual&amp;nbsp;Term&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Aggregate&lt;br /&gt; Intrinsic&lt;br /&gt; Value&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Options outstanding at January 1, 2014&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 48%; padding-left: 9pt&quot;&gt;Issued&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Exercised&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Forfeited&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Options outstanding at December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;9.0&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Options exercisable at:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;January 1, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt; padding-bottom: 2.5pt&quot;&gt;December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 2.5pt double&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 2.5pt double&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 2.5pt double&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 2.5pt double&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 2.5pt double&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Unvested options at December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;9.0&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Options outstanding at January 1, 2015&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Issued&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;30,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13.74&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Exercised&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(600&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Forfeited&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(800&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Options outstanding at December 31, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;51,600&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.08&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8.6&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Options exercisable at:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;January 1, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;December 31, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;4,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8.0&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Unvested options at December 31, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;47,600&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.04&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8.6&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt;&quot;&gt;During the years ended December 31, 2015 and 2014, a total of 30,000 and 23,000 were issued with an intrinsic value of zero for all years. During the year ended December 31, 2015, a total of 600 options were exercised with an intrinsic value of zero. During the year ended December 31, 2015, a total of 800 options were forfeited with a fair value of $4,752. A total of 4,000 options vested during the year ended December 31, 2015 with a fair value of $23,760. At December 31, 2015 and 2014, a total of 47,600 and 23,000 options were unvested with a fair value of $248,004 and $136,620. There were no options issued or exercised during 2013.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;During the year ended December 31, 2015, we issued 10,793 shares of common stock to members of our Board of Directors. We recorded compensation expense of $175,000, which was the fair market value of the shares on the grant dates. The shares are fully vested.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The Company has authorized 250,000 shares of voting preferred stock without par value. No shares are issued or outstanding. Also, the Company has authorized 250,000 shares of non-voting preferred stock without par value. Of these, 125,000 shares have been designated Series A non-voting convertible preferred stock with a stated value of $.06 per share, of which no shares are issued or outstanding at December 31, 2015 and 2014, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The plans generally provided for grants with the exercise price equal to fair value on the date of grant, graduated vesting periods of up to 5 years, and lives not exceeding 10 years.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;In June 2009, our Board of Directors adopted a Rights Agreement, which provides for one preferred share purchase right to be associated with each share of our outstanding common stock. Shareholders exercising these rights would become entitled to purchase shares of Series B Junior Participating Cumulative Preferred Stock. The rights are exercisable after the time when a person or group of persons without the approval of the Board of Directors acquire beneficial ownership of 20 percent or more of our common stock or announce the initiation of a tender or exchange offer which if successful would cause such person or group to beneficially own 20 percent or more of the common stock. Such exercise would ultimately entitle the holders of the rights to purchase at the exercise price, shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the exercise price. The person or groups effecting such 20 percent acquisition or undertaking such tender offer would not be entitled to exercise any rights. The Rights Agreement was renewed in June 2012 and expired in August 2015.&lt;/p&gt;&lt;br/&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">500000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">394291</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">28000</us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions unitRef="pure" contextRef="c2_From1Jan2015To31Dec2015" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice unitRef="usdPershares" contextRef="c53_AsOf2Jan2015" decimals="2">13.42</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross unitRef="shares" contextRef="c54_From1Aug2015To31Aug2015" decimals="INF">2000</us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice unitRef="usdPershares" contextRef="c55_AsOf6Aug2015" decimals="2">18.15</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">23000</us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions unitRef="pure" contextRef="c3_From1Jan2014To31Dec2014" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice unitRef="usdPershares" contextRef="c1_AsOf31Dec2014" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice>
  <us-gaap:RestrictedStockExpense unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">183150</us-gaap:RestrictedStockExpense>
  <us-gaap:RestrictedStockExpense unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">83778</us-gaap:RestrictedStockExpense>
  <us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">32000</us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
  <us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures unitRef="shares" contextRef="c54_From1Aug2015To31Aug2015" decimals="INF">2000</us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
  <us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">23000</us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c56_From1Jan2015To31Jan2015" decimals="INF">28000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage unitRef="pure" contextRef="c56_From1Jan2015To31Jan2015" decimals="2">0.20</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage>
  <us-gaap:OptionIndexedToIssuersEquityStrikePrice1 unitRef="usdPershares" contextRef="c56_From1Jan2015To31Jan2015" decimals="2">13.42</us-gaap:OptionIndexedToIssuersEquityStrikePrice1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c56_From1Jan2015To31Jan2015" decimals="2">4.70</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c56_From1Jan2015To31Jan2015" decimals="4">0.4620</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c56_From1Jan2015To31Jan2015" decimals="4">0.0192</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c56_From1Jan2015To31Jan2015" decimals="4">0.0299</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate unitRef="pure" contextRef="c56_From1Jan2015To31Jan2015" decimals="3">0.038</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c54_From1Aug2015To31Aug2015" decimals="INF">2000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage unitRef="pure" contextRef="c54_From1Aug2015To31Aug2015" decimals="2">0.20</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage>
  <us-gaap:OptionIndexedToIssuersEquityStrikePrice1 unitRef="usdPershares" contextRef="c54_From1Aug2015To31Aug2015" decimals="2">18.15</us-gaap:OptionIndexedToIssuersEquityStrikePrice1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c54_From1Aug2015To31Aug2015" decimals="2">5.95</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c54_From1Aug2015To31Aug2015" decimals="4">0.4032</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c54_From1Aug2015To31Aug2015" decimals="4">0.0198</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c54_From1Aug2015To31Aug2015" decimals="4">0.0246</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate unitRef="pure" contextRef="c54_From1Aug2015To31Aug2015" decimals="3">0.038</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c57_From1Jan2014To31Jan2014" decimals="INF">23000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage unitRef="pure" contextRef="c57_From1Jan2014To31Jan2014" decimals="2">0.20</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage>
  <us-gaap:OptionIndexedToIssuersEquityStrikePrice1 unitRef="usdPershares" contextRef="c57_From1Jan2014To31Jan2014" decimals="2">14.57</us-gaap:OptionIndexedToIssuersEquityStrikePrice1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c57_From1Jan2014To31Jan2014" decimals="2">5.94</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c57_From1Jan2014To31Jan2014" decimals="4">0.5204</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c57_From1Jan2014To31Jan2014" decimals="4">0.0241</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c57_From1Jan2014To31Jan2014" decimals="4">0.0275</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate unitRef="pure" contextRef="c57_From1Jan2014To31Jan2014" decimals="3">0.038</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate>
  <us-gaap:AllocatedShareBasedCompensationExpense unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">54828</us-gaap:AllocatedShareBasedCompensationExpense>
  <us-gaap:AllocatedShareBasedCompensationExpense unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">27324</us-gaap:AllocatedShareBasedCompensationExpense>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">30000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">23000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">600</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">800</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
  <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensationForfeited unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">4752</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensationForfeited>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">4000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1 unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">23760</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">47600</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares unitRef="shares" contextRef="c1_AsOf31Dec2014" decimals="INF">23000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions unitRef="usd" contextRef="c0_AsOf31Dec2015" decimals="0">248004</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions unitRef="usd" contextRef="c1_AsOf31Dec2014" decimals="0">136620</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions>
  <us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">10793</us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross>
  <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">175000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
  <us-gaap:PreferredStockSharesAuthorized unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">250000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:PreferredUnitsAuthorized unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">250000</us-gaap:PreferredUnitsAuthorized>
  <us-gaap:ConvertiblePreferredStockSharesReservedForFutureIssuance unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">125000</us-gaap:ConvertiblePreferredStockSharesReservedForFutureIssuance>
  <us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%; text-align: justify&quot;&gt;2016&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;215,585&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2017&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;206,246&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;2018&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;132,463&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: justify; padding-bottom: 1pt&quot;&gt;2019&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;23,174&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: justify&quot;&gt;Total&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;577,468&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock>
  <rcky:FutureStockCompensationExpense unitRef="usd" contextRef="c58_From1Jan2016To31Dec2016" decimals="0">215585</rcky:FutureStockCompensationExpense>
  <rcky:FutureStockCompensationExpense unitRef="usd" contextRef="c59_From1Jan2017To31Dec2017" decimals="0">206246</rcky:FutureStockCompensationExpense>
  <rcky:FutureStockCompensationExpense unitRef="usd" contextRef="c60_From31Dec2018To31Dec2018" decimals="0">132463</rcky:FutureStockCompensationExpense>
  <rcky:FutureStockCompensationExpense unitRef="usd" contextRef="c61_From31Dec2019To31Dec2019" decimals="0">23174</rcky:FutureStockCompensationExpense>
  <rcky:TotalExpectedShareBasedCompensation unitRef="usd" contextRef="c62_From1Jan2016To31Dec2019" decimals="0">577468</rcky:TotalExpectedShareBasedCompensation>
  <us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Shares&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&amp;nbsp;&lt;br /&gt; Price&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Remaining&lt;br /&gt; Actual&amp;nbsp;Term&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Aggregate&lt;br /&gt; Intrinsic&lt;br /&gt; Value&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Options outstanding at January 1, 2014&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 48%; padding-left: 9pt&quot;&gt;Issued&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Exercised&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Forfeited&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Options outstanding at December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;9.0&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Options exercisable at:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;January 1, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt; padding-bottom: 2.5pt&quot;&gt;December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 2.5pt double&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 2.5pt double&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 2.5pt double&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 2.5pt double&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 2.5pt double&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Unvested options at December 31, 2014&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;9.0&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Options outstanding at January 1, 2015&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;23,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Issued&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;30,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13.74&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Exercised&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(600&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Forfeited&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;(800&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;)&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Options outstanding at December 31, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;51,600&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.08&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8.6&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Options exercisable at:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;January 1, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; padding-left: 9pt&quot;&gt;December 31, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;4,000&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.57&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8.0&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;Unvested options at December 31, 2015&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;47,600&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;14.04&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;8.6&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">23000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c3_From1Jan2014To31Dec2014" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c1_AsOf31Dec2014" decimals="INF">23000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c1_AsOf31Dec2014" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="c63_From30Dec2014To31Dec2014">P9Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c1_AsOf31Dec2014" decimals="2">14.57</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c63_From30Dec2014To31Dec2014">P9Y</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c53_AsOf2Jan2015" decimals="INF">23000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c53_AsOf2Jan2015" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">30000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c2_From1Jan2015To31Dec2015" decimals="2">13.74</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">-600</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c2_From1Jan2015To31Dec2015" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c2_From1Jan2015To31Dec2015" decimals="INF">-800</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c2_From1Jan2015To31Dec2015" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">51600</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c0_AsOf31Dec2015" decimals="2">14.08</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="c64_From30Dec2015To31Dec2015">P8Y219D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber unitRef="shares" contextRef="c0_AsOf31Dec2015" decimals="INF">4000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c0_AsOf31Dec2015" decimals="2">14.57</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="c64_From30Dec2015To31Dec2015">P8Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c0_AsOf31Dec2015" decimals="2">14.04</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c64_From30Dec2015To31Dec2015">P8Y219D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:CashFlowSupplementalDisclosuresTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;12.&lt;/td&gt;
     &lt;td&gt;SUPPLEMENTAL CASH FLOW INFORMATION&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Supplemental cash flow information including other cash paid for interest and Federal, state and local income taxes was as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 61%; text-align: left; padding-bottom: 2.5pt&quot;&gt;Interest paid&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; border-bottom: Black 2.5pt double; text-align: right&quot;&gt;724,651&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; border-bottom: Black 2.5pt double; text-align: right&quot;&gt;856,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; border-bottom: Black 2.5pt double; text-align: right&quot;&gt;683,475&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Federal, state and local income taxes paid - net of refunds&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;5,568,581&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;972,645&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,248,181&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Capitalized interest&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Fixed asset purchases in accounts payable&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;92,903&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;85,488&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;459,941&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</us-gaap:CashFlowSupplementalDisclosuresTextBlock>
  <us-gaap:SupplementalCashFlowInformationRelatedText contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 61%; text-align: left; padding-bottom: 2.5pt&quot;&gt;Interest paid&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; border-bottom: Black 2.5pt double; text-align: right&quot;&gt;724,651&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; border-bottom: Black 2.5pt double; text-align: right&quot;&gt;856,578&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; border-bottom: Black 2.5pt double; text-align: right&quot;&gt;683,475&lt;/td&gt;
     &lt;td style=&quot;width: 1%; padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Federal, state and local income taxes paid - net of refunds&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;5,568,581&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;972,645&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;3,248,181&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Capitalized interest&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;-&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Fixed asset purchases in accounts payable&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;92,903&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;85,488&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;459,941&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:SupplementalCashFlowInformationRelatedText>
  <us-gaap:InterestPaid unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">724651</us-gaap:InterestPaid>
  <us-gaap:InterestPaid unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">856578</us-gaap:InterestPaid>
  <us-gaap:InterestPaid unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">683475</us-gaap:InterestPaid>
  <us-gaap:IncomeTaxesPaidNet unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">5568581</us-gaap:IncomeTaxesPaidNet>
  <us-gaap:IncomeTaxesPaidNet unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">972645</us-gaap:IncomeTaxesPaidNet>
  <us-gaap:IncomeTaxesPaidNet unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">3248181</us-gaap:IncomeTaxesPaidNet>
  <us-gaap:NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">92903</us-gaap:NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1>
  <us-gaap:NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">85488</us-gaap:NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1>
  <us-gaap:NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">459941</us-gaap:NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1>
  <us-gaap:SegmentReportingDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top; text-align: justify&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt; text-align: left&quot;&gt;13.&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;SEGMENT INFORMATION&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;&lt;b&gt;&lt;i&gt;Operating Segments&lt;/i&gt;&lt;/b&gt; - We operate our business through three business segments: wholesale, retail and military.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Wholesale.&lt;/i&gt;&lt;/b&gt; In our wholesale segment, our products are offered in over ten thousand retail locations representing a wide range of distribution channels in the U.S. and Canada. These distribution channels vary by product line and target market and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Retail.&lt;/i&gt;&lt;/b&gt; In our retail segment, we primarily sell our products directly to consumers through our consumer and business direct websites and our Rocky outlet store. We also operate four mobile trucks to service the New York Transit Authority&amp;#x2019;s employees. Through our outlet store, we generally sell first quality or discontinued products in addition to a limited amount of factory damaged goods, which typically carry lower gross margins.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Military.&lt;/i&gt;&lt;/b&gt; While we are focused on continuing to build our wholesale and retail business, we also actively bid, from time to time, on footwear contracts with the U.S. military. Our sales under such contracts are dependent on us winning the bids for these contracts.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;We have received an order to fulfill a contract to the U.S. Military to produce &amp;#x201c;Hot Weather&amp;#x201d; combat boots. We began shipping boots in the first quarter of 2013. The contract included a minimum purchase amount of $3.0 million and a maximum of $15.0 million for the first year and included an option for four additional years with the same terms. During 2014 and 2015, we shipped boots under this agreement.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;The following is a summary of segment results for the Wholesale, Retail, and Military segments. Certain amounts from prior year have been reclassified to conform to current year presentation.&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;NET SALES:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;206,072,657&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;233,898,250&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;192,901,438&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;45,808,705&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;44,347,775&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;43,092,829&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Military&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;17,420,661&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;7,996,144&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;8,876,464&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in&quot;&gt;Total Net Sales&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;269,302,023&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;286,242,169&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;244,870,731&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;GROSS MARGIN:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;65,979,792&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;75,840,977&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;62,420,052&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;20,621,884&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,449,609&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,856,441&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Military&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;2,290,163&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,070,139&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,265,958&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in&quot;&gt;Total Gross Margin&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;88,891,839&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;96,360,725&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;83,542,451&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Segment asset information is not prepared or used to assess segment performance.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;&lt;b&gt;&lt;i&gt;Product Group Information&lt;/i&gt;&lt;/b&gt; - The following is supplemental information on net sales by product group:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;% of &lt;br /&gt; Sales&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;% of &lt;br /&gt; Sales&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;% of &lt;br /&gt; Sales&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 22%; text-align: left&quot;&gt;Work footwear&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;120,422,188&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;44.7&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;131,510,217&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;45.9&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;123,131,787&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;50.3&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Western footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;43,435,734&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;16.1&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;45,475,880&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;15.9&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;36,998,504&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;15.1&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; text-indent: -0.1in; padding-left: 0.1in&quot;&gt;Duty and commercial military footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;33,341,424&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;12.4&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;38,174,738&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13.3&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;33,517,114&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Lifestyle footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;23,370,822&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;25,823,220&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9.0&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;10,599,879&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4.3&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Outdoor footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;20,688,005&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;7.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;24,606,151&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8.6&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;20,194,524&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8.2&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Military footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;17,420,661&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;6.5&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;7,996,144&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.8&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8,876,464&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3.6&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Apparel&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;5,662,277&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.1&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;7,471,005&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.6&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;6,676,075&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Other&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,155,137&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.5&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,100,128&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.4&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,454,968&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.8&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Royalty income&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;805,775&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;0.3&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;1,084,686&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;0.4&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;421,416&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;0.2&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;269,302,023&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;100&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;286,242,169&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;100&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;244,870,731&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;100&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt&quot;&gt;Net sales to foreign countries, primarily Canada, represented approximately 4.8% of net sales in 2015, 6.3% of net sales in 2014 and 2.9% of net sales in 2013.&lt;i&gt; &lt;/i&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <rcky:GovernmentContractMinimumPurchase unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="-5">3000000</rcky:GovernmentContractMinimumPurchase>
  <rcky:GovermentContractMaximumRevenue unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="-5">15000000</rcky:GovermentContractMaximumRevenue>
  <rcky:ForeignSalesPercentage unitRef="pure" contextRef="c2_From1Jan2015To31Dec2015" decimals="3">0.048</rcky:ForeignSalesPercentage>
  <rcky:ForeignSalesPercentage unitRef="pure" contextRef="c3_From1Jan2014To31Dec2014" decimals="3">0.063</rcky:ForeignSalesPercentage>
  <rcky:ForeignSalesPercentage unitRef="pure" contextRef="c4_From1Jan2013To31Dec2013" decimals="3">0.029</rcky:ForeignSalesPercentage>
  <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;10&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center&quot;&gt;Years Ended December 31,&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;NET SALES:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 61%; padding-left: 9pt&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;206,072,657&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;233,898,250&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;192,901,438&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;45,808,705&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;44,347,775&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;43,092,829&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Military&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;17,420,661&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;7,996,144&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;8,876,464&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in&quot;&gt;Total Net Sales&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;269,302,023&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;286,242,169&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;244,870,731&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;GROSS MARGIN:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Wholesale&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;65,979,792&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;75,840,977&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;62,420,052&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Retail&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;20,621,884&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,449,609&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;19,856,441&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-bottom: 1pt; padding-left: 9pt&quot;&gt;Military&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;2,290,163&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,070,139&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;1,265,958&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in&quot;&gt;Total Gross Margin&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;88,891,839&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;96,360,725&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;83,542,451&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c65_From1Jan2015To31Dec2015_Wholesale_Member" decimals="0">206072657</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c66_From1Jan2014To31Dec2014_Wholesale_Member" decimals="0">233898250</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c67_From1Jan2013To31Dec2013_Wholesale_Member" decimals="0">192901438</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c68_From1Jan2015To31Dec2015_Retail_Member" decimals="0">45808705</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c69_From1Jan2014To31Dec2014_Retail_Member" decimals="0">44347775</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c70_From1Jan2013To31Dec2013_Retail_Member" decimals="0">43092829</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c71_From1Jan2015To31Dec2015_Military_Member" decimals="0">17420661</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c72_From1Jan2014To31Dec2014_Military_Member" decimals="0">7996144</rcky:NetSales_Segment_Revenue>
  <rcky:NetSales_Segment_Revenue unitRef="usd" contextRef="c73_From1Jan2013To31Dec2013_Military_Member" decimals="0">8876464</rcky:NetSales_Segment_Revenue>
  <rcky:SalesRevenueSegment unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">269302023</rcky:SalesRevenueSegment>
  <rcky:SalesRevenueSegment unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">286242169</rcky:SalesRevenueSegment>
  <rcky:SalesRevenueSegment unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">244870731</rcky:SalesRevenueSegment>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c74_From1Jan2015To31Dec2015_Wholesale_Member" decimals="0">65979792</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c75_From1Jan2014To31Dec2014_Wholesale_Member" decimals="0">75840977</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c76_From1Jan2013To31Dec2013_Wholesale_Member" decimals="0">62420052</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c77_From1Jan2015To31Dec2015_Retail_Member" decimals="0">20621884</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c78_From1Jan2014To31Dec2014_Retail_Member" decimals="0">19449609</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c79_From1Jan2013To31Dec2013_Retail_Member" decimals="0">19856441</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c80_From1Jan2015To31Dec2015_Military_Member" decimals="0">2290163</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c81_From1Jan2014To31Dec2014_Military_Member" decimals="0">1070139</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfit unitRef="usd" contextRef="c82_From1Jan2013To31Dec2013_Military_Member" decimals="0">1265958</rcky:SegmentOperatingProfit>
  <rcky:SegmentOperatingProfitorLoss unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">88891839</rcky:SegmentOperatingProfitorLoss>
  <rcky:SegmentOperatingProfitorLoss unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">96360725</rcky:SegmentOperatingProfitorLoss>
  <rcky:SegmentOperatingProfitorLoss unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">83542451</rcky:SegmentOperatingProfitorLoss>
  <us-gaap:ScheduleOfProductInformationTableTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2015&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;% of &lt;br /&gt; Sales&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2014&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;% of &lt;br /&gt; Sales&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2013&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;% of &lt;br /&gt; Sales&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 22%; text-align: left&quot;&gt;Work footwear&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;120,422,188&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;44.7&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;131,510,217&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;45.9&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;123,131,787&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;50.3&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Western footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;43,435,734&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;16.1&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;45,475,880&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;15.9&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;36,998,504&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;15.1&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; text-indent: -0.1in; padding-left: 0.1in&quot;&gt;Duty and commercial military footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;33,341,424&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;12.4&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;38,174,738&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13.3&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;33,517,114&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;13.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Lifestyle footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;23,370,822&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;25,823,220&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9.0&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;10,599,879&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4.3&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Outdoor footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;20,688,005&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;7.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;24,606,151&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8.6&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;20,194,524&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8.2&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Military footwear&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;17,420,661&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;6.5&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;7,996,144&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.8&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;8,876,464&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3.6&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Apparel&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;5,662,277&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.1&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;7,471,005&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.6&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;6,676,075&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2.7&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Other&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,155,137&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.5&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,100,128&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.4&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,454,968&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.8&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Royalty income&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;805,775&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;0.3&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;1,084,686&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;0.4&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;421,416&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;0.2&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;269,302,023&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;100&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;286,242,169&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;100&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;%&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;244,870,731&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;100&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;%&lt;/td&gt;
    &lt;/tr&gt;

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  <us-gaap:RevenueOtherManufacturedProducts unitRef="usd" contextRef="c131_From1Jan2015To31Dec2015_Royalty_Income_Member" decimals="0">805775</us-gaap:RevenueOtherManufacturedProducts>
  <us-gaap:SalesRevenueGoodsNetPercentage unitRef="pure" contextRef="c132_AsOf31Dec2015_Royalty_Income_Member" decimals="3">0.003</us-gaap:SalesRevenueGoodsNetPercentage>
  <us-gaap:RevenueOtherManufacturedProducts unitRef="usd" contextRef="c133_From1Jan2014To31Dec2014_Royalty_Income_Member" decimals="0">1084686</us-gaap:RevenueOtherManufacturedProducts>
  <us-gaap:SalesRevenueGoodsNetPercentage unitRef="pure" contextRef="c134_AsOf31Dec2014_Royalty_Income_Member" decimals="3">0.004</us-gaap:SalesRevenueGoodsNetPercentage>
  <us-gaap:RevenueOtherManufacturedProducts unitRef="usd" contextRef="c135_From1Jan2013To31Dec2013_Royalty_Income_Member" decimals="0">421416</us-gaap:RevenueOtherManufacturedProducts>
  <us-gaap:SalesRevenueGoodsNetPercentage unitRef="pure" contextRef="c136_AsOf31Dec2013_Royalty_Income_Member" decimals="3">0.002</us-gaap:SalesRevenueGoodsNetPercentage>
  <us-gaap:RevenueOtherManufacturedProducts unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="0">269302023</us-gaap:RevenueOtherManufacturedProducts>
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  <us-gaap:RevenueOtherManufacturedProducts unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">286242169</us-gaap:RevenueOtherManufacturedProducts>
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  <us-gaap:RevenueOtherManufacturedProducts unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">244870731</us-gaap:RevenueOtherManufacturedProducts>
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  <us-gaap:QuarterlyFinancialInformationTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;14.&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;&lt;font style=&quot;font-weight: normal&quot;&gt;The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2015 and 2014: &lt;/font&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;1st Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2nd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;3rd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;4th Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Total Year&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center&quot;&gt;2015&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 35%; text-align: left&quot;&gt;Net sales&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;65,451,303&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;68,583,196&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;70,001,496&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;65,266,028&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;269,302,023&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Gross margin&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;21,971,310&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,648,633&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,117,477&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,154,419&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;88,891,839&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Net income&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,413,947&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,002,673&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,803,667&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,382,870&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;6,603,157&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Dividends paid&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;755,953&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;831,827&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;832,073&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;832,401&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,252,254&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Net income per common share:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Basic&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.19&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.26&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.24&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.18&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.87&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Diluted&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.19&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.26&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.24&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.18&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.87&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;1st Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2nd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;3rd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;4th Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Total Year&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center&quot;&gt;2014&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 35%; text-align: left&quot;&gt;Net sales&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;65,783,284&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;68,822,520&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;72,729,678&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;78,906,687&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;286,242,169&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Gross margin&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;21,853,149&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,585,662&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;24,273,792&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;27,648,122&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;96,360,725&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Net income&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;723,788&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,511,461&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,138,507&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,471,542&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9,845,298&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Dividends paid&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;753,981&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;754,321&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;754,665&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;755,012&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,017,979&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Net income per common share:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Basic&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.10&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.20&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.42&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.59&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.30&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Diluted&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.10&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.20&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.42&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.59&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.30&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 100%; font-size: 10pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top; text-align: left&quot;&gt;
      &lt;td style=&quot;width: 33%&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;width: 34%; text-align: center&quot;&gt;F -
       &lt;!-- Field: Sequence; Type: Arabic; Name: PageNo --&gt;23
       &lt;!-- Field: /Sequence --&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 33%; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;</us-gaap:QuarterlyFinancialInformationTextBlock>
  <us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock contextRef="c3_From1Jan2014To31Dec2014">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;1st Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2nd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;3rd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;4th Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Total Year&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center&quot;&gt;2015&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 35%; text-align: left&quot;&gt;Net sales&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;65,451,303&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;68,583,196&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;70,001,496&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;65,266,028&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;269,302,023&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Gross margin&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;21,971,310&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,648,633&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,117,477&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,154,419&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;88,891,839&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Net income&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,413,947&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;2,002,673&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,803,667&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,382,870&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;6,603,157&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Dividends paid&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;755,953&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;831,827&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;832,073&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;832,401&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,252,254&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Net income per common share:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Basic&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.19&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.26&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.24&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.18&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.87&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Diluted&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.19&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.26&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.24&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.18&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.87&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
     &lt;td nowrap=&quot;nowrap&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;1st Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;2nd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;3rd Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;4th Quarter&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; nowrap=&quot;nowrap&quot; style=&quot;font-weight: bold; text-align: center; border-bottom: Black 1pt solid&quot;&gt;Total Year&lt;/td&gt;
     &lt;td nowrap=&quot;nowrap&quot; style=&quot;padding-bottom: 1pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;font-weight: bold; text-align: center&quot;&gt;2014&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;width: 35%; text-align: left&quot;&gt;Net sales&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;65,783,284&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;68,822,520&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;72,729,678&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;78,906,687&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 10%; text-align: right&quot;&gt;286,242,169&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Gross margin&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;21,853,149&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;22,585,662&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;24,273,792&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;27,648,122&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;96,360,725&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Net income&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;723,788&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1,511,461&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,138,507&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;4,471,542&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;9,845,298&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Dividends paid&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;753,981&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;754,321&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;754,665&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;755,012&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;3,017,979&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Net income per common share:&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Basic&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.10&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.20&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.42&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.59&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.30&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;padding-left: 9pt&quot;&gt;Diluted&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.10&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.20&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.42&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;0.59&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;1.30&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

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  <us-gaap:NetIncomeLoss unitRef="usd" contextRef="c143_From1Jul2014To30Sep2014" decimals="0">3138507</us-gaap:NetIncomeLoss>
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  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c137_From1Jan2015To31Mar2015" decimals="2">0.19</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c138_From1Apr2015To30Jun2015" decimals="2">0.26</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c139_From1Jul2015To30Sep2015" decimals="2">0.24</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c140_From1Oct2015To31Dec2015" decimals="2">0.18</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c141_From1Jan2014To31Mar2014" decimals="2">0.10</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c142_From1Apr2014To30Jun2014" decimals="2">0.20</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c143_From1Jul2014To30Sep2014" decimals="2">0.42</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic unitRef="usdPershares" contextRef="c144_From1Oct2014To31Dec2014" decimals="2">0.59</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c137_From1Jan2015To31Mar2015" decimals="2">0.19</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c138_From1Apr2015To30Jun2015" decimals="2">0.26</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c139_From1Jul2015To30Sep2015" decimals="2">0.24</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c140_From1Oct2015To31Dec2015" decimals="2">0.18</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c141_From1Jan2014To31Mar2014" decimals="2">0.10</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c142_From1Apr2014To30Jun2014" decimals="2">0.20</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c143_From1Jul2014To30Sep2014" decimals="2">0.42</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareDiluted unitRef="usdPershares" contextRef="c144_From1Oct2014To31Dec2014" decimals="2">0.59</us-gaap:EarningsPerShareDiluted>
  <us-gaap:BusinessCombinationDisclosureTextBlock contextRef="c2_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

    &lt;tr style=&quot;vertical-align: top&quot;&gt;
     &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
     &lt;td style=&quot;width: 23.75pt&quot;&gt;15.&lt;/td&gt;
     &lt;td style=&quot;text-align: justify&quot;&gt;ACQUISITION OF CREATIVE RECREATION&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;On December 13, 2013, we completed the acquisition of certain assets of Kommonwealth, Inc. including the Creative Recreation trademark, a lifestyle footwear brand best known for its popular crossover between athletic sneakers and dress shoes. The total purchase price was $8,722,843 including cash and assumption of certain liabilities. The acquisition was funded by our existing cash balances and funds available under our existing revolving credit facility. We did not have any sales in 2013 related to this acquisition and had net pre-tax operational expenses of $172,418 that was included as a component of income from operations. In addition, we incurred $1,172,047 of acquisition related expenses. The acquisition related expenses were included as a component of income from operations for the year ended December 31, 2013 and consisted of the following:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%; text-align: left&quot;&gt;Investment banker fees&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;503,072&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Professional fees&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;187,585&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Valuation services&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;37,561&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Stock compensation expense&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;290,800&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Freight and warehousing expenses&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;86,726&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Travel Expenses&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;66,303&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Total acquisition related expenses&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;1,172,047&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;The acquisition was accounted for under the purchase method of accounting in accordance with ASC 805, Business Combinations, with the excess of the fair market value of the assets acquired and liabilities assumed in excess of the purchase price recorded as a gain on purchase. Based on the purchase price allocation, the purchase price resulted in a gain on purchase. The purchase price allocation is based upon certain estimates made by management with the assistance of an independent, third-party valuation company.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;During 2015 and 2014, we had $13.6 million and $16.1 million, respectively, in net sales for the Creative Recreation business.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;&lt;i&gt;Purchase Price Allocation&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt&quot;&gt;We negotiated the respective purchase prices of the assets based on the expected cash flows to be derived from the assets after integration into our existing sourcing and distribution networks. The acquisition purchase price was allocated based on the fair values of the assets acquired and liabilities assumed, which are based on management estimates and the assistance of third-party appraisals. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed.&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%&quot;&gt;Purchase Price&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;2,229,000&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-decoration: underline&quot;&gt;Preliminary Allocation of Purchase Price&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Accounts receivable&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,081,764&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Inventories&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,162,360&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Prepaid expenses and deposits&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(82,339&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Property and equipment&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(698,355&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Trademarks&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(5,100,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Customer relationships&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(1,200,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Total assets acquired&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(9,324,818&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Accounts payable&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;6,493,843&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Net gain on purchase&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(601,975&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0&quot;&gt;Intangible assets related to the acquisitions represent the fair value of trademarks and customer relationships. See Note 3 intangible assets.&lt;/p&gt;&lt;br/&gt;</us-gaap:BusinessCombinationDisclosureTextBlock>
  <us-gaap:BusinessCombinationConsiderationTransferredOther unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">8722843</us-gaap:BusinessCombinationConsiderationTransferredOther>
  <us-gaap:OperatingExpenses unitRef="usd" contextRef="c145_From13Dec2013To31Dec2013" decimals="0">172418</us-gaap:OperatingExpenses>
  <us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual unitRef="usd" contextRef="c2_From1Jan2015To31Dec2015" decimals="-5">13600000</us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual>
  <us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="-5">16100000</us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual>
  <us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock contextRef="c4_From1Jan2013To31Dec2013">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%; text-align: left&quot;&gt;Investment banker fees&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;503,072&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Professional fees&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;187,585&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Valuation services&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;37,561&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Stock compensation expense&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;290,800&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Freight and warehousing expenses&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;86,726&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Travel Expenses&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;66,303&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Total acquisition related expenses&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;1,172,047&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock>
  <us-gaap:OtherGeneralExpense unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">503072</us-gaap:OtherGeneralExpense>
  <us-gaap:ProfessionalFees unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">187585</us-gaap:ProfessionalFees>
  <us-gaap:OtherCostOfServices unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">37561</us-gaap:OtherCostOfServices>
  <us-gaap:EmployeeBenefitsAndShareBasedCompensation unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">290800</us-gaap:EmployeeBenefitsAndShareBasedCompensation>
  <us-gaap:FreightCosts unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">86726</us-gaap:FreightCosts>
  <us-gaap:TravelAndEntertainmentExpense unitRef="usd" contextRef="c4_From1Jan2013To31Dec2013" decimals="0">66303</us-gaap:TravelAndEntertainmentExpense>
  <us-gaap:ScheduleOfPurchasePriceAllocationTableTextBlock contextRef="c4_From1Jan2013To31Dec2013">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif&quot;&gt;

    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;width: 82%&quot;&gt;Purchase Price&lt;/td&gt;
     &lt;td style=&quot;width: 1%&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;width: 15%; text-align: right&quot;&gt;2,229,000&lt;/td&gt;
     &lt;td style=&quot;width: 1%; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-decoration: underline&quot;&gt;Preliminary Allocation of Purchase Price&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Accounts receivable&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,081,764&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td&gt;Inventories&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(1,162,360&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Prepaid expenses and deposits&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(82,339&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;Property and equipment&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(698,355&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;Trademarks&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(5,100,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Customer relationships&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left; border-bottom: Black 1pt solid&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right; border-bottom: Black 1pt solid&quot;&gt;(1,200,000&lt;/td&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
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    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-left: 9pt&quot;&gt;Total assets acquired&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;(9,324,818&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 1pt&quot;&gt;Accounts payable&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 1pt solid; text-align: right&quot;&gt;6,493,843&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
     &lt;td style=&quot;text-align: left; padding-bottom: 2.5pt&quot;&gt;Net gain on purchase&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: left&quot;&gt;$&lt;/td&gt;
     &lt;td style=&quot;border-bottom: Black 2.5pt double; text-align: right&quot;&gt;(601,975&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 2.5pt; text-align: left&quot;&gt;)&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfPurchasePriceAllocationTableTextBlock>
  <us-gaap:BusinessCombinationConsiderationTransferred unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">2229000</us-gaap:BusinessCombinationConsiderationTransferred>
  <us-gaap:BusinessCombinationAcquiredReceivablesFairValue unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-1081764</us-gaap:BusinessCombinationAcquiredReceivablesFairValue>
  <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-1162360</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory>
  <us-gaap:BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-82339</us-gaap:BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets>
  <us-gaap:BusinessAcquisitionPurchasePriceAllocationEquipment unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-698355</us-gaap:BusinessAcquisitionPurchasePriceAllocationEquipment>
  <us-gaap:BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-5100000</us-gaap:BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable>
  <us-gaap:BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-1200000</us-gaap:BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets>
  <us-gaap:BusinessAcquisitionPurchasePriceAllocationAssetsAcquired unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">-9324818</us-gaap:BusinessAcquisitionPurchasePriceAllocationAssetsAcquired>
  <us-gaap:BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable unitRef="usd" contextRef="c15_AsOf31Dec2013" decimals="0">6493843</us-gaap:BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable>
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<TYPE>EX-101.SCH
<SEQUENCE>12
<FILENAME>rcky-20151231.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
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        <link:definition>006 - Disclosure - 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/2INVENTORIES" id="rcky_r_2INVENTORIES">
        <link:definition>007 - Disclosure - 2. INVENTORIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/3IDENTIFIEDINTANGIBLEASSETS" id="rcky_r_3IDENTIFIEDINTANGIBLEASSETS">
        <link:definition>008 - Disclosure - 3. IDENTIFIED INTANGIBLE ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/4OTHERASSETS" id="rcky_r_4OTHERASSETS">
        <link:definition>009 - Disclosure - 4. OTHER ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/5FIXEDASSETS" id="rcky_r_5FIXEDASSETS">
        <link:definition>010 - Disclosure - 5. FIXED ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/6LONGTERMDEBT" id="rcky_r_6LONGTERMDEBT">
        <link:definition>011 - Disclosure - 6. LONG-TERM DEBT</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/7OPERATINGLEASES" id="rcky_r_7OPERATINGLEASES">
        <link:definition>012 - Disclosure - 7. OPERATING LEASES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/8RETIREMENTPLANS" id="rcky_r_8RETIREMENTPLANS">
        <link:definition>013 - Disclosure - 8. RETIREMENT PLANS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/9INCOMETAXES" id="rcky_r_9INCOMETAXES">
        <link:definition>014 - Disclosure - 9. INCOME TAXES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/10COMMITMENTSANDCONTINGENCIES" id="rcky_r_10COMMITMENTSANDCONTINGENCIES">
        <link:definition>015 - Disclosure - 10. COMMITMENTS AND CONTINGENCIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/11CAPITALSTOCKANDSTOCKBASEDCOMPENSATION" id="rcky_r_11CAPITALSTOCKANDSTOCKBASEDCOMPENSATION">
        <link:definition>016 - Disclosure - 11. CAPITAL STOCK AND STOCK BASED COMPENSATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/12SUPPLEMENTALCASHFLOWINFORMATION" id="rcky_r_12SUPPLEMENTALCASHFLOWINFORMATION">
        <link:definition>017 - Disclosure - 12. SUPPLEMENTAL CASH FLOW INFORMATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/13SEGMENTINFORMATION" id="rcky_r_13SEGMENTINFORMATION">
        <link:definition>018 - Disclosure - 13. SEGMENT INFORMATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/14QUARTERLYRESULTSOFOPERATIONSUNAUDITED" id="rcky_r_14QUARTERLYRESULTSOFOPERATIONSUNAUDITED">
        <link:definition>019 - Disclosure - 14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/15ACQUISITIONOFCREATIVERECREATION" id="rcky_r_15ACQUISITIONOFCREATIVERECREATION">
        <link:definition>020 - Disclosure - 15. ACQUISITION OF CREATIVE RECREATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESTables" id="rcky_r_1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESTables">
        <link:definition>021 - Disclosure - 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/2INVENTORIESTables" id="rcky_r_2INVENTORIESTables">
        <link:definition>022 - Disclosure - 2. INVENTORIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/3IDENTIFIEDINTANGIBLEASSETSTables" id="rcky_r_3IDENTIFIEDINTANGIBLEASSETSTables">
        <link:definition>023 - Disclosure - 3. IDENTIFIED INTANGIBLE ASSETS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/4OTHERASSETSTables" id="rcky_r_4OTHERASSETSTables">
        <link:definition>024 - Disclosure - 4. OTHER ASSETS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/5FIXEDASSETSTables" id="rcky_r_5FIXEDASSETSTables">
        <link:definition>025 - Disclosure - 5. FIXED ASSETS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/7OPERATINGLEASESTables" id="rcky_r_7OPERATINGLEASESTables">
        <link:definition>026 - Disclosure - 7. OPERATING LEASES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/9INCOMETAXESTables" id="rcky_r_9INCOMETAXESTables">
        <link:definition>027 - Disclosure - 9. INCOME TAXES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/11CAPITALSTOCKANDSTOCKBASEDCOMPENSATIONTables" id="rcky_r_11CAPITALSTOCKANDSTOCKBASEDCOMPENSATIONTables">
        <link:definition>028 - Disclosure - 11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/12SUPPLEMENTALCASHFLOWINFORMATIONTables" id="rcky_r_12SUPPLEMENTALCASHFLOWINFORMATIONTables">
        <link:definition>029 - Disclosure - 12. SUPPLEMENTAL CASH FLOW INFORMATION (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/13SEGMENTINFORMATIONTables" id="rcky_r_13SEGMENTINFORMATIONTables">
        <link:definition>030 - Disclosure - 13. SEGMENT INFORMATION (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/14QUARTERLYRESULTSOFOPERATIONSUNAUDITEDTables" id="rcky_r_14QUARTERLYRESULTSOFOPERATIONSUNAUDITEDTables">
        <link:definition>031 - Disclosure - 14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/15ACQUISITIONOFCREATIVERECREATIONTables" id="rcky_r_15ACQUISITIONOFCREATIVERECREATIONTables">
        <link:definition>032 - Disclosure - 15. ACQUISITION OF CREATIVE RECREATION (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetails" id="rcky_r_1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetails">
        <link:definition>033 - Disclosure - 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/PerShareInformationBasicnetincomepercommonshareiscomputedbasedontheweightedaverageTable" id="rcky_r_PerShareInformationBasicnetincomepercommonshareiscomputedbasedontheweightedaverageTable">
        <link:definition>034 - Disclosure - 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Per Share Information - Basic net income per common share is computed based on the weighted average</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/InventoryDetailTable" id="rcky_r_InventoryDetailTable">
        <link:definition>035 - Disclosure - 2.  INVENTORIES (Details) - Inventory Detail</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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      <link:roleType roleURI="http://www.rockybrands.com/role/3IDENTIFIEDINTANGIBLEASSETSDetails" id="rcky_r_3IDENTIFIEDINTANGIBLEASSETSDetails">
        <link:definition>036 - Disclosure - 3. IDENTIFIED INTANGIBLE ASSETS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/IntangibleAssetsTable" id="rcky_r_IntangibleAssetsTable">
        <link:definition>037 - Disclosure - 3.  IDENTIFIED INTANGIBLE ASSETS (Details) - Intangible Assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/OtherAssetsDetailTable" id="rcky_r_OtherAssetsDetailTable">
        <link:definition>038 - Disclosure - 4.  OTHER ASSETS (Details) - Other Assets Detail</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/5FIXEDASSETSDetails" id="rcky_r_5FIXEDASSETSDetails">
        <link:definition>039 - Disclosure - 5. FIXED ASSETS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/FixedAssetDetailTable" id="rcky_r_FixedAssetDetailTable">
        <link:definition>040 - Disclosure - 5.  FIXED ASSETS (Details) - Fixed Asset Detail</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/6LONGTERMDEBTDetails" id="rcky_r_6LONGTERMDEBTDetails">
        <link:definition>041 - Disclosure - 6. LONG-TERM DEBT (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/7OPERATINGLEASESDetails" id="rcky_r_7OPERATINGLEASESDetails">
        <link:definition>042 - Disclosure - 7. OPERATING LEASES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/FutureminimumleasepaymentsTable" id="rcky_r_FutureminimumleasepaymentsTable">
        <link:definition>043 - Disclosure - 7.  OPERATING LEASES (Details) - Future minimum lease payments</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/8RETIREMENTPLANSDetails" id="rcky_r_8RETIREMENTPLANSDetails">
        <link:definition>044 - Disclosure - 8. RETIREMENT PLANS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/9INCOMETAXESDetails" id="rcky_r_9INCOMETAXESDetails">
        <link:definition>045 - Disclosure - 9. INCOME TAXES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/IncomeTaxExpenseTable" id="rcky_r_IncomeTaxExpenseTable">
        <link:definition>046 - Disclosure - 9.  INCOME TAXES (Details) - Income Tax Expense</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/FederalincometaxexpensereconciliationtostatutoryrateTable" id="rcky_r_FederalincometaxexpensereconciliationtostatutoryrateTable">
        <link:definition>047 - Disclosure - 9.  INCOME TAXES (Details) - Federal income tax expense reconciliation to statutory rate</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/DeferredincometaxesTable" id="rcky_r_DeferredincometaxesTable">
        <link:definition>048 - Disclosure - 9.  INCOME TAXES (Details) - Deferred income taxes</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/11CAPITALSTOCKANDSTOCKBASEDCOMPENSATIONDetails" id="rcky_r_11CAPITALSTOCKANDSTOCKBASEDCOMPENSATIONDetails">
        <link:definition>049 - Disclosure - 11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/FutureStockCompensationExpenseTable" id="rcky_r_FutureStockCompensationExpenseTable">
        <link:definition>050 - Disclosure - 11.  CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - Future Stock Compensation Expense</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/StockOptionsTable" id="rcky_r_StockOptionsTable">
        <link:definition>051 - Disclosure - 11.  CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - Stock Options</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/SupplementalcashflowinformationTable" id="rcky_r_SupplementalcashflowinformationTable">
        <link:definition>052 - Disclosure - 12.  SUPPLEMENTAL CASH FLOW INFORMATION (Details) - Supplemental cash flow information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/13SEGMENTINFORMATIONDetails" id="rcky_r_13SEGMENTINFORMATIONDetails">
        <link:definition>053 - Disclosure - 13. SEGMENT INFORMATION (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/SegmentTableTable" id="rcky_r_SegmentTableTable">
        <link:definition>054 - Disclosure - 13.  SEGMENT INFORMATION (Details) - Segment Table</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/ProductGroupInformationTable" id="rcky_r_ProductGroupInformationTable">
        <link:definition>055 - Disclosure - 13.  SEGMENT INFORMATION (Details) - Product Group Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.rockybrands.com/role/UnauditedQuarterlyResultsTable" id="rcky_r_UnauditedQuarterlyResultsTable">
        <link:definition>056 - Disclosure - 14.  QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - Unaudited Quarterly Results</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/15ACQUISITIONOFCREATIVERECREATIONDetails" id="rcky_r_15ACQUISITIONOFCREATIVERECREATIONDetails">
        <link:definition>057 - Disclosure - 15. ACQUISITION OF CREATIVE RECREATION (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/AcquisitionRelatedExpensesTable" id="rcky_r_AcquisitionRelatedExpensesTable">
        <link:definition>058 - Disclosure - 15.  ACQUISITION OF CREATIVE RECREATION (Details) - Acquisition Related Expenses</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/PurchasePriceAllocationTable" id="rcky_r_PurchasePriceAllocationTable">
        <link:definition>059 - Disclosure - 15.  ACQUISITION OF CREATIVE RECREATION (Details) - Purchase Price Allocation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.rockybrands.com/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
        <link:definition>000 - Disclosure - Document And Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
    </xs:appinfo>
  </xs:annotation>
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <xs:import namespace="http://fasb.org/us-types/2015-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2015/elts/us-types-2015-01-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd"/>
  <xs:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd"/>
  <xs:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
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  <xs:element name="InventoryDetailAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_InventoryDetailAbstract"/>
  <xs:element name="IntangibleAssetsAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_IntangibleAssetsAbstract"/>
  <xs:element name="OtherAssetsDetailAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_OtherAssetsDetailAbstract"/>
  <xs:element name="FixedAssetDetailAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_FixedAssetDetailAbstract"/>
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  <xs:element name="StockOptionsAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_StockOptionsAbstract"/>
  <xs:element name="SegmentTableAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_SegmentTableAbstract"/>
  <xs:element name="ProductGroupInformationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_ProductGroupInformationAbstract"/>
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  <xs:element name="AcquisitionRelatedExpensesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_AcquisitionRelatedExpensesAbstract"/>
  <xs:element name="PurchasePriceAllocationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_PurchasePriceAllocationAbstract"/>
  <xs:element name="AccruedExpensesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_AccruedExpensesAbstract"/>
  <xs:element name="DeferredLiabilitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_DeferredLiabilitiesAbstract"/>
  <xs:element name="NetIncomePerShareAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_NetIncomePerShareAbstract"/>
  <xs:element name="WeightedAverageNumberOfCommonSharesOutstandingAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract"/>
  <xs:element name="YearEndedDecember312013Abstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_YearEndedDecember312013Abstract"/>
  <xs:element name="YearEndedDecember312014Abstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_YearEndedDecember312014Abstract"/>
  <xs:element name="YearEndedDecember312015Abstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_YearEndedDecember312015Abstract"/>
  <xs:element name="CashFlowsFromOperatingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_CashFlowsFromOperatingActivitiesAbstract"/>
  <xs:element name="AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract"/>
  <xs:element name="ChangeInAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_ChangeInAssetsAndLiabilitiesAbstract"/>
  <xs:element name="CashFlowsFromInvestingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_CashFlowsFromInvestingActivitiesAbstract"/>
  <xs:element name="CashFlowsFromFinancingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_CashFlowsFromFinancingActivitiesAbstract"/>
  <xs:element name="TrademarksAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_TrademarksAbstract"/>
  <xs:element name="TrademarksAbstract0" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_TrademarksAbstract0"/>
  <xs:element name="FederalAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_FederalAbstract"/>
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  <xs:element name="ForeignAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_ForeignAbstract"/>
  <xs:element name="IncreaseDecreaseInIncomeTaxesResultingFromAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract"/>
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  <xs:element name="OptionsExercisableAtAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_OptionsExercisableAtAbstract"/>
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  <xs:element name="NetSalesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_NetSalesAbstract"/>
  <xs:element name="GrossMarginAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_GrossMarginAbstract"/>
  <xs:element name="a2015Abstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_a2015Abstract"/>
  <xs:element name="NetIncomePerCommonShareAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_NetIncomePerCommonShareAbstract"/>
  <xs:element name="PreliminaryAllocationOfPurchasePriceAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_PreliminaryAllocationOfPurchasePriceAbstract"/>
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  <xs:element name="FutureStockCompensationExpense" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="rcky_FutureStockCompensationExpense"/>
  <xs:element name="TotalExpectedShareBasedCompensation" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="rcky_TotalExpectedShareBasedCompensation"/>
  <xs:element name="Segment_Reporting_Domain" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Segment_Reporting_Domain"/>
  <xs:element name="Segment_Gross_Margin_Domain" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Segment_Gross_Margin_Domain"/>
  <xs:element name="NetSales_Segment_Revenue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="rcky_NetSales_Segment_Revenue"/>
  <xs:element name="SalesRevenueSegment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="rcky_SalesRevenueSegment"/>
  <xs:element name="SegmentOperatingProfit" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="rcky_SegmentOperatingProfit"/>
  <xs:element name="SegmentOperatingProfitorLoss" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="rcky_SegmentOperatingProfitorLoss"/>
  <xs:element name="Libor_Loan" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="rcky_Libor_Loan"/>
  <xs:element name="GovernmentContractMinimumPurchase" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="rcky_GovernmentContractMinimumPurchase"/>
  <xs:element name="GovermentContractMaximumRevenue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="rcky_GovermentContractMaximumRevenue"/>
  <xs:element name="ForeignSalesPercentage" type="num:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_ForeignSalesPercentage"/>
  <xs:element name="Segment_Gross_Margin_Axis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="rcky_Segment_Gross_Margin_Axis"/>
  <xs:element name="Segment_Reporting_Axis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="rcky_Segment_Reporting_Axis"/>
  <xs:element name="Trade_Mark_Axis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="rcky_Trade_Mark_Axis"/>
  <xs:element name="Accumulated_Amortization_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Accumulated_Amortization_Member"/>
  <xs:element name="Apparel_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Apparel_Member"/>
  <xs:element name="Carrying_Amount_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Carrying_Amount_Member"/>
  <xs:element name="Commercial_Military_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Commercial_Military_Member"/>
  <xs:element name="Lifestyle_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Lifestyle_Member"/>
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  <xs:element name="Retail_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Retail_Member"/>
  <xs:element name="Royalty_Income_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Royalty_Income_Member"/>
  <xs:element name="Western_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Western_Member"/>
  <xs:element name="Wholesale_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Wholesale_Member"/>
  <xs:element name="Work_Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_Work_Member"/>
  <xs:element name="DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="rcky_DocumentAndEntityInformationAbstract"/>
</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>13
<FILENAME>rcky-20151231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Wed Mar 02 20:34:31 UTC 2016 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_ConsolidatedCashFlow" roleURI="http://www.rockybrands.com/role/ConsolidatedCashFlow"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_InventoryDetailTable" roleURI="http://www.rockybrands.com/role/InventoryDetailTable"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_OtherAssetsDetailTable" roleURI="http://www.rockybrands.com/role/OtherAssetsDetailTable"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_FixedAssetDetailTable" roleURI="http://www.rockybrands.com/role/FixedAssetDetailTable"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_FutureminimumleasepaymentsTable" roleURI="http://www.rockybrands.com/role/FutureminimumleasepaymentsTable"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_IncomeTaxExpenseTable" roleURI="http://www.rockybrands.com/role/IncomeTaxExpenseTable"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_FederalincometaxexpensereconciliationtostatutoryrateTable" roleURI="http://www.rockybrands.com/role/FederalincometaxexpensereconciliationtostatutoryrateTable"/>
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  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_AcquisitionRelatedExpensesTable" roleURI="http://www.rockybrands.com/role/AcquisitionRelatedExpensesTable"/>
  <roleRef xlink:type="simple" xlink:href="rcky-20151231.xsd#rcky_r_PurchasePriceAllocationTable" roleURI="http://www.rockybrands.com/role/PurchasePriceAllocationTable"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
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    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherReceivables" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherReceivables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_OtherReceivables" order="3" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_InventoryNet" order="4" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxesReceivable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxesReceivable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_IncomeTaxesReceivable" order="5" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent" order="6" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PrepaidExpenseCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_PrepaidExpenseCurrent" order="7" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Assets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets"/>
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>14
<FILENAME>rcky-20151231_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>15
<FILENAME>rcky-20151231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0" xml:lang="en-US">BEGINNING OF PERIOD</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xml:lang="en-US">END OF PERIOD</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US">Trade receivables &#8211; net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherReceivables" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherReceivables_lbl" xml:lang="en-US">Other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivables" xlink:to="us-gaap_OtherReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InventoryNet_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxesReceivable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxesReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesReceivable_lbl" xml:lang="en-US">Income tax receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesReceivable" xlink:to="us-gaap_IncomeTaxesReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl" xml:lang="en-US">Deferred income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetCurrent" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PrepaidExpenseCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseCurrent_lbl" xml:lang="en-US">Prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseCurrent" xlink:to="us-gaap_PrepaidExpenseCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">FIXED ASSETS &#8211; net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl0" xml:lang="en-US">Net Fixed Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">IDENTIFIED INTANGIBLES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherAssetsNoncurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US">OTHER ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Assets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">TOTAL ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US">Salaries and wages</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_TaxesPayableCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxesPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TaxesPayableCurrent_lbl" xml:lang="en-US">Taxes - other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxesPayableCurrent" xlink:to="us-gaap_TaxesPayableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedLiabilitiesAndOtherLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesAndOtherLiabilities_lbl" xml:lang="en-US">Accrued freight</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:to="us-gaap_AccruedLiabilitiesAndOtherLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes_lbl" xml:lang="en-US">Commissions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes" xlink:to="us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accrued duty</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedIncomeTaxesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedIncomeTaxesCurrent_lbl" xml:lang="en-US">Income taxes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesCurrent" xlink:to="us-gaap_AccruedIncomeTaxesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LongTermDebtNoncurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xml:lang="en-US">LONG TERM DEBT</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesNoncurrent_lbl" xml:lang="en-US">Deferred income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:to="us-gaap_DeferredTaxLiabilitiesNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherLiabilitiesNoncurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US">Other deferred liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesNoncurrent" xlink:to="us-gaap_OtherLiabilitiesNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Liabilities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">TOTAL LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsUnappropriated" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsUnappropriated"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsUnappropriated_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsUnappropriated" xlink:to="us-gaap_RetainedEarningsUnappropriated_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total shareholders&apos; equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl0" xml:lang="en-US">BALANCE - December 31, 20</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US">BALANCE - December 31, 20</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">TOTAL LIABILITIES AND SHAREHOLDERS&apos; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeStatementAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_CostOfGoodsSold" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfGoodsSold"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfGoodsSold_lbl" xml:lang="en-US">COST OF GOODS SOLD</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfGoodsSold" xlink:to="us-gaap_CostOfGoodsSold_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_GrossProfit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GrossProfit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GrossProfit_lbl" xml:lang="en-US">GROSS MARGIN</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xml:lang="en-US">Acquisition related expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:to="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl0" xml:lang="en-US">Total acquisition related expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:to="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl1" xml:lang="en-US">Business Combination, Acquisition Related Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:to="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingExpenses" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Total operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl0" xml:lang="en-US">Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingIncomeLoss" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">INCOME FROM OPERATIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InterestExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_GainOnPurchaseOfBusiness" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainOnPurchaseOfBusiness"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainOnPurchaseOfBusiness_lbl" xml:lang="en-US">Gain on bargain purchase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainOnPurchaseOfBusiness" xlink:to="us-gaap_GainOnPurchaseOfBusiness_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Total other - net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">INCOME BEFORE INCOME TAXES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">INCOME TAX EXPENSE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US">COMPREHENSIVE INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareBasic" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl0" xml:lang="en-US">Basic (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareDiluted" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareDiluted"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl0" xml:lang="en-US">Diluted (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Basic (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl0" xml:lang="en-US">Basic - weighted average shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Diluted (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl0" xml:lang="en-US">Diluted - weighted average shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement of Stockholders&apos; Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharesIssued" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesIssued_lbl" xml:lang="en-US">BALANCE - December 31, 20 (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesIssued_lbl0" xml:lang="en-US">BALANCE - December 31, 20 (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetIncomeLoss" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl0" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DividendsCommonStockCash" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsCommonStockCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsCommonStockCash_lbl" xml:lang="en-US">Dividends Paid on Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCommonStockCash" xlink:to="us-gaap_DividendsCommonStockCash_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssued1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssued1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssued1_lbl" xml:lang="en-US">Stock compensation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssued1" xlink:to="us-gaap_StockIssued1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" xml:lang="en-US">Stock compensation expense (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Stock issued and options exercised including related tax benefits (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Equity Components [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Common Stock Including Additional Paid in Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember" xlink:to="us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xml:lang="en-US">Loss on disposal of fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:to="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl" xml:lang="en-US">Gain on acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:to="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl0" xml:lang="en-US">Net gain on purchase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:to="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensation" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Stock compensation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInReceivables" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInReceivables_lbl" xml:lang="en-US">Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInReceivables" xlink:to="us-gaap_IncreaseDecreaseInReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInInventories" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInInventories"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxesReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xml:lang="en-US">Income tax receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US">Other current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xml:lang="en-US">Accrued and other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xml:lang="en-US">Proceeds from sales of fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Acquisition of business assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xml:lang="en-US">Investment in trademarks and patents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromLinesOfCredit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xml:lang="en-US">Proceeds from revolving credit facility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLinesOfCredit" xlink:to="us-gaap_ProceedsFromLinesOfCredit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RepaymentsOfLinesOfCredit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xml:lang="en-US">Repayments on revolving credit facility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLinesOfCredit" xlink:to="us-gaap_RepaymentsOfLinesOfCredit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsOfFinancingCosts" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfFinancingCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl" xml:lang="en-US">Debt financing costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfFinancingCosts" xlink:to="us-gaap_PaymentsOfFinancingCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DividendsCash" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsCash_lbl" xml:lang="en-US">Dividends paid on common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCash" xlink:to="us-gaap_DividendsCash_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash (used in) provided by financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_PerShareInformationBasicNetIncomePerCommonShareIsComputedBasedOnTheWeightedAverageAbstract" xlink:href="rcky-20151231.xsd#rcky_PerShareInformationBasicNetIncomePerCommonShareIsComputedBasedOnTheWeightedAverageAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_PerShareInformationBasicNetIncomePerCommonShareIsComputedBasedOnTheWeightedAverageAbstract" xlink:to="rcky_PerShareInformationBasicNetIncomePerCommonShareIsComputedBasedOnTheWeightedAverageAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US">Dilutive restricted share units</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions_lbl" xml:lang="en-US">Dilutive stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions" xlink:to="us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US">Anti-Dilutive securities - stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureAbstract_lbl" xml:lang="en-US">Inventory Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureAbstract" xlink:to="us-gaap_InventoryDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_InventoryDetailAbstract" xlink:href="rcky-20151231.xsd#rcky_InventoryDetailAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_InventoryDetailAbstract_lbl" xml:lang="en-US">Inventory Detail [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_InventoryDetailAbstract" xlink:to="rcky_InventoryDetailAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryRawMaterialsAndSupplies" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryRawMaterialsAndSupplies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryRawMaterialsAndSupplies_lbl" xml:lang="en-US">Raw materials</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRawMaterialsAndSupplies" xlink:to="us-gaap_InventoryRawMaterialsAndSupplies_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryWorkInProcess" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryWorkInProcess"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryWorkInProcess_lbl" xml:lang="en-US">Work-in-process</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryWorkInProcess" xlink:to="us-gaap_InventoryWorkInProcess_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryFinishedGoods" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryFinishedGoods"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryFinishedGoods_lbl" xml:lang="en-US">Finished goods</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoods" xlink:to="us-gaap_InventoryFinishedGoods_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DisclosureTextBlockAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Text Block [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockAbstract" xlink:to="us-gaap_DisclosureTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_IntangibleAssetsAbstract" xlink:href="rcky-20151231.xsd#rcky_IntangibleAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_IntangibleAssetsAbstract_lbl" xml:lang="en-US">Intangible Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_IntangibleAssetsAbstract" xlink:to="rcky_IntangibleAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US">Indefinite-lived Intangible Assets [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Wholesale_Member" xlink:href="rcky-20151231.xsd#rcky_Wholesale_Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_Wholesale_Member_lbl" xml:lang="en-US">Wholesale (Member)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Wholesale_Member" xlink:to="rcky_Wholesale_Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IndefiniteLivedTrademarks" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IndefiniteLivedTrademarks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedTrademarks_lbl" xml:lang="en-US">Indefinite Lived Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedTrademarks" xlink:to="us-gaap_IndefiniteLivedTrademarks_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Retail_Member" xlink:href="rcky-20151231.xsd#rcky_Retail_Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_Retail_Member_lbl" xml:lang="en-US">Retail (Member)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Retail_Member" xlink:to="rcky_Retail_Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PatentsMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PatentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PatentsMember_lbl" xml:lang="en-US">Patents [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PatentsMember" xlink:to="us-gaap_PatentsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedPatentsGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedPatentsGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedPatentsGross_lbl" xml:lang="en-US">Finite Lived Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedPatentsGross" xlink:to="us-gaap_FiniteLivedPatentsGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CustomerRelationshipsMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerRelationshipsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerRelationshipsMember_lbl" xml:lang="en-US">Customer Relationships [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerRelationshipsMember" xlink:to="us-gaap_CustomerRelationshipsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US">Total Identified Intangibles</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Trade_Mark_Axis" xlink:href="rcky-20151231.xsd#rcky_Trade_Mark_Axis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_Trade_Mark_Axis_lbl" xml:lang="en-US">Trade Mark (Axis)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Trade_Mark_Axis" xlink:to="rcky_Trade_Mark_Axis_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Accumulated_Amortization_Member" xlink:href="rcky-20151231.xsd#rcky_Accumulated_Amortization_Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_Accumulated_Amortization_Member_lbl" xml:lang="en-US">Accumulated Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Accumulated_Amortization_Member" xlink:to="rcky_Accumulated_Amortization_Member_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Carrying_Amount_Member" xlink:href="rcky-20151231.xsd#rcky_Carrying_Amount_Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_Carrying_Amount_Member_lbl" xml:lang="en-US">Carrying Amount (Member)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Carrying_Amount_Member" xlink:to="rcky_Carrying_Amount_Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DisclosureTextBlockSupplementAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureTextBlockSupplementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureTextBlockSupplementAbstract_lbl" xml:lang="en-US">Disclosure Text Block Supplement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockSupplementAbstract" xlink:to="us-gaap_DisclosureTextBlockSupplementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_OtherAssetsDetailAbstract" xlink:href="rcky-20151231.xsd#rcky_OtherAssetsDetailAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_OtherAssetsDetailAbstract_lbl" xml:lang="en-US">Other Assets Detail [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_OtherAssetsDetailAbstract" xlink:to="rcky_OtherAssetsDetailAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNoncurrentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xml:lang="en-US">Deferred financing costs, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:to="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssets" xlink:to="us-gaap_OtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US">Property, Plant and Equipment [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_FixedAssetDetailAbstract" xlink:href="rcky-20151231.xsd#rcky_FixedAssetDetailAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_FixedAssetDetailAbstract_lbl" xml:lang="en-US">Fixed Asset Detail [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_FixedAssetDetailAbstract" xlink:to="rcky_FixedAssetDetailAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Land" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Land"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Land_lbl" xml:lang="en-US">Land</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Land" xlink:to="us-gaap_Land_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BuildingsAndImprovementsGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BuildingsAndImprovementsGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingsAndImprovementsGross_lbl" xml:lang="en-US">Buildings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingsAndImprovementsGross" xlink:to="us-gaap_BuildingsAndImprovementsGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_MachineryAndEquipmentGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MachineryAndEquipmentGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MachineryAndEquipmentGross_lbl" xml:lang="en-US">Machinery and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MachineryAndEquipmentGross" xlink:to="us-gaap_MachineryAndEquipmentGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FurnitureAndFixturesGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FurnitureAndFixturesGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FurnitureAndFixturesGross_lbl" xml:lang="en-US">Furniture and fixtures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FurnitureAndFixturesGross" xlink:to="us-gaap_FurnitureAndFixturesGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentOther" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl" xml:lang="en-US">Lasts, dies and patterns</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentOther" xlink:to="us-gaap_PropertyPlantAndEquipmentOther_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConstructionInProgressGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionInProgressGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xml:lang="en-US">Construction work-in-progress</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionInProgressGross" xlink:to="us-gaap_ConstructionInProgressGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Less - accumulated depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xml:lang="en-US">Debt Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LeasesOperatingAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasesOperatingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesOperatingAbstract_lbl" xml:lang="en-US">Leases, Operating [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesOperatingAbstract" xlink:to="us-gaap_LeasesOperatingAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_FutureMinimumLeasePaymentsAbstract" xlink:href="rcky-20151231.xsd#rcky_FutureMinimumLeasePaymentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_FutureMinimumLeasePaymentsAbstract_lbl" xml:lang="en-US">Future minimum lease payments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_FutureMinimumLeasePaymentsAbstract" xlink:to="rcky_FutureMinimumLeasePaymentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">2017</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">2018</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">2019</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" xml:lang="en-US">Compensation and Retirement Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:to="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US">Income Tax Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_IncomeTaxExpenseAbstract" xlink:href="rcky-20151231.xsd#rcky_IncomeTaxExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_IncomeTaxExpenseAbstract_lbl" xml:lang="en-US">Income Tax Expense [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_IncomeTaxExpenseAbstract" xlink:to="rcky_IncomeTaxExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit_lbl" xml:lang="en-US">Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="us-gaap_CurrentFederalTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations_lbl" xml:lang="en-US">Total Federal</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations" xlink:to="us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl" xml:lang="en-US">Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_lbl" xml:lang="en-US">Total State &amp; local</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations" xlink:to="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CurrentForeignTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentForeignTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentForeignTaxExpenseBenefit_lbl" xml:lang="en-US">Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentForeignTaxExpenseBenefit" xlink:to="us-gaap_CurrentForeignTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredForeignIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredForeignIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations_lbl" xml:lang="en-US">Total Foreign</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations" xlink:to="us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_FederalIncomeTaxExpenseReconciliationToStatutoryRateAbstract" xlink:href="rcky-20151231.xsd#rcky_FederalIncomeTaxExpenseReconciliationToStatutoryRateAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_FederalIncomeTaxExpenseReconciliationToStatutoryRateAbstract_lbl" xml:lang="en-US">Federal income tax expense reconciliation to statutory rate [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_FederalIncomeTaxExpenseReconciliationToStatutoryRateAbstract" xlink:to="rcky_FederalIncomeTaxExpenseReconciliationToStatutoryRateAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Expected expense at statutory rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationTaxHolidays" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxHolidays"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeTaxReconciliationTaxHolidays_lbl" xml:lang="en-US">Exempt income from Dominican Republic operations due to tax holiday</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxHolidays" xlink:to="us-gaap_IncomeTaxReconciliationTaxHolidays_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings_lbl" xml:lang="en-US">Tax on repatriated earnings from Dominican Republic operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings" xlink:to="us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_lbl" xml:lang="en-US">Impact of Canadian deemed dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential" xlink:to="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">State and local income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherAdjustments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xml:lang="en-US">Section 199 manufacturing deduction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:to="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment_lbl" xml:lang="en-US">Meals and entertainment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther_lbl" xml:lang="en-US">Nondeductible penalties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationOtherReconcilingItems" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherReconcilingItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationOtherReconcilingItems_lbl" xml:lang="en-US">Provision to return filing adjustments and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationOtherReconcilingItems" xlink:to="us-gaap_IncomeTaxReconciliationOtherReconcilingItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredIncomeTaxesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxesAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationAcquiredReceivablesFairValue" xlink:to="us-gaap_BusinessCombinationAcquiredReceivablesFairValue_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_lbl" xml:lang="en-US">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets_lbl" xml:lang="en-US">Prepaid expenses and deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment_lbl" xml:lang="en-US">Property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable_lbl" xml:lang="en-US">Trademarks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_lbl" xml:lang="en-US">Customer relationships</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_lbl" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable_lbl" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">CURRENT ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">CURRENT LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_AccruedExpensesAbstract" xlink:href="rcky-20151231.xsd#rcky_AccruedExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_AccruedExpensesAbstract_lbl" xml:lang="en-US">Accrued expenses:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_AccruedExpensesAbstract" xlink:to="rcky_AccruedExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_DeferredLiabilitiesAbstract" xlink:href="rcky-20151231.xsd#rcky_DeferredLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_DeferredLiabilitiesAbstract_lbl" xml:lang="en-US">DEFERRED LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_DeferredLiabilitiesAbstract" xlink:to="rcky_DeferredLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">SHAREHOLDERS&apos; EQUITY:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingExpensesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">OPERATING EXPENSES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherIncomeAndExpensesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherIncomeAndExpensesAbstract_lbl" xml:lang="en-US">OTHER INCOME AND (EXPENSES):</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIncomeAndExpensesAbstract" xlink:to="us-gaap_OtherIncomeAndExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherNonoperatingIncomeExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US">Other - net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_NetIncomePerShareAbstract" xlink:href="rcky-20151231.xsd#rcky_NetIncomePerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_NetIncomePerShareAbstract_lbl" xml:lang="en-US">NET INCOME PER SHARE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_NetIncomePerShareAbstract" xlink:to="rcky_NetIncomePerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract" xlink:href="rcky-20151231.xsd#rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract_lbl" xml:lang="en-US">WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract" xlink:to="rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_YearEndedDecember312013Abstract" xlink:href="rcky-20151231.xsd#rcky_YearEndedDecember312013Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_YearEndedDecember312013Abstract_lbl" xml:lang="en-US">YEAR ENDED DECEMBER 31, 2013</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_YearEndedDecember312013Abstract" xlink:to="rcky_YearEndedDecember312013Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_YearEndedDecember312014Abstract" xlink:href="rcky-20151231.xsd#rcky_YearEndedDecember312014Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_YearEndedDecember312014Abstract_lbl" xml:lang="en-US">YEAR ENDED DECEMBER 31, 2014</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_YearEndedDecember312014Abstract" xlink:to="rcky_YearEndedDecember312014Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_YearEndedDecember312015Abstract" xlink:href="rcky-20151231.xsd#rcky_YearEndedDecember312015Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_YearEndedDecember312015Abstract_lbl" xml:lang="en-US">YEAR ENDED DECEMBER 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_YearEndedDecember312015Abstract" xlink:to="rcky_YearEndedDecember312015Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_CashFlowsFromOperatingActivitiesAbstract" xlink:href="rcky-20151231.xsd#rcky_CashFlowsFromOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_CashFlowsFromOperatingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM OPERATING ACTIVITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_CashFlowsFromOperatingActivitiesAbstract" xlink:to="rcky_CashFlowsFromOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:href="rcky-20151231.xsd#rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxesAndTaxCredits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredIncomeTaxesAndTaxCredits_lbl" xml:lang="en-US">Deferred income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:to="us-gaap_DeferredIncomeTaxesAndTaxCredits_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_ChangeInAssetsAndLiabilitiesAbstract" xlink:href="rcky-20151231.xsd#rcky_ChangeInAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_ChangeInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Change in assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_ChangeInAssetsAndLiabilitiesAbstract" xlink:to="rcky_ChangeInAssetsAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_CashFlowsFromInvestingActivitiesAbstract" xlink:href="rcky-20151231.xsd#rcky_CashFlowsFromInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_CashFlowsFromInvestingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM INVESTING ACTIVITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_CashFlowsFromInvestingActivitiesAbstract" xlink:to="rcky_CashFlowsFromInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_CashFlowsFromFinancingActivitiesAbstract" xlink:href="rcky-20151231.xsd#rcky_CashFlowsFromFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_CashFlowsFromFinancingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM FINANCING ACTIVITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_CashFlowsFromFinancingActivitiesAbstract" xlink:to="rcky_CashFlowsFromFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">CASH AND CASH EQUIVALENTS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAbstract" xlink:to="us-gaap_CashAndCashEquivalentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xml:lang="en-US">Inventory Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryRelatedText" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryRelatedText"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryRelatedText_lbl" xml:lang="en-US">Inventory Related Text</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRelatedText" xlink:to="us-gaap_InventoryRelatedText_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IntangibleAssetsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US">Intangible Assets Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:to="us-gaap_IntangibleAssetsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_lbl" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:to="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_TrademarksAbstract" xlink:href="rcky-20151231.xsd#rcky_TrademarksAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_TrademarksAbstract_lbl" xml:lang="en-US">Trademarks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_TrademarksAbstract" xlink:to="rcky_TrademarksAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_TrademarksAbstract0" xlink:href="rcky-20151231.xsd#rcky_TrademarksAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_TrademarksAbstract0_lbl" xml:lang="en-US">Trademarks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_TrademarksAbstract0" xlink:to="rcky_TrademarksAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherAssetsDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsDisclosureTextBlock_lbl" xml:lang="en-US">Other Assets Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsDisclosureTextBlock" xlink:to="us-gaap_OtherAssetsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfOtherAssetsTableTextBlock_lbl" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:to="us-gaap_ScheduleOfOtherAssetsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">Debt Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock_lbl" xml:lang="en-US">Operating Leases of Lessee Disclosure [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock" xlink:to="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xml:lang="en-US">Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xml:lang="en-US">Pension and Other Postretirement Benefits Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:to="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US">Income Tax Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_FederalAbstract" xlink:href="rcky-20151231.xsd#rcky_FederalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_FederalAbstract_lbl" xml:lang="en-US">Federal:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_FederalAbstract" xlink:to="rcky_FederalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_StateLocalAbstract" xlink:href="rcky-20151231.xsd#rcky_StateLocalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_StateLocalAbstract_lbl" xml:lang="en-US">State &amp; local:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_StateLocalAbstract" xlink:to="rcky_StateLocalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_ForeignAbstract" xlink:href="rcky-20151231.xsd#rcky_ForeignAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_ForeignAbstract_lbl" xml:lang="en-US">Foreign</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_ForeignAbstract" xlink:to="rcky_ForeignAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xml:lang="en-US">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract" xlink:href="rcky-20151231.xsd#rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract_lbl" xml:lang="en-US">Increase (decrease) in income taxes resulting from:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract" xlink:to="rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_DeferredTaxAssetsAbstract" xlink:href="rcky-20151231.xsd#rcky_DeferredTaxAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_DeferredTaxAssetsAbstract_lbl" xml:lang="en-US">Deferred tax assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_DeferredTaxAssetsAbstract" xlink:to="rcky_DeferredTaxAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxLiabilitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesAbstract_lbl" xml:lang="en-US">Deferred tax liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesAbstract" xlink:to="us-gaap_DeferredTaxLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_lbl" xml:lang="en-US">Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:to="us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Activity [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Price of Options Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Stock Options Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Price of Options Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Remaining Life of Options Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_OptionsExercisableAtAbstract" xlink:href="rcky-20151231.xsd#rcky_OptionsExercisableAtAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_OptionsExercisableAtAbstract_lbl" xml:lang="en-US">Options exercisable at:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_OptionsExercisableAtAbstract" xlink:to="rcky_OptionsExercisableAtAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" xml:lang="en-US">Weighted Average Price of Options Unvested</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Remaining Life of Options Unvested</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_OptionsExercisableAtAbstract0" xlink:href="rcky-20151231.xsd#rcky_OptionsExercisableAtAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="rcky_OptionsExercisableAtAbstract0_lbl" xml:lang="en-US">Options exercisable at:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_OptionsExercisableAtAbstract0" xlink:to="rcky_OptionsExercisableAtAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Options Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Price of Options Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Remaining Life of Options Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowSupplementalDisclosuresTextBlock_lbl" xml:lang="en-US">Cash Flow, Supplemental Disclosures [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:to="us-gaap_CashFlowSupplementalDisclosuresTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SupplementalCashFlowInformationRelatedText" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SupplementalCashFlowInformationRelatedText"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationRelatedText_lbl" xml:lang="en-US">Supplemental Cash Flow Information Related Text</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationRelatedText" xlink:to="us-gaap_SupplementalCashFlowInformationRelatedText_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_NetSalesAbstract" xlink:href="rcky-20151231.xsd#rcky_NetSalesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_NetSalesAbstract_lbl" xml:lang="en-US">NET SALES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_NetSalesAbstract" xlink:to="rcky_NetSalesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_GrossMarginAbstract" xlink:href="rcky-20151231.xsd#rcky_GrossMarginAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_GrossMarginAbstract_lbl" xml:lang="en-US">GROSS MARGIN:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_GrossMarginAbstract" xlink:to="rcky_GrossMarginAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfProductInformationTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfProductInformationTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfProductInformationTableTextBlock_lbl" xml:lang="en-US">Schedule of Product Information [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfProductInformationTableTextBlock" xlink:to="us-gaap_ScheduleOfProductInformationTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock_lbl" xml:lang="en-US">Quarterly Financial Information [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_QuarterlyFinancialInformationTextBlock" xlink:to="us-gaap_QuarterlyFinancialInformationTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xml:lang="en-US">Schedule of Quarterly Financial Information [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:to="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_a2015Abstract" xlink:href="rcky-20151231.xsd#rcky_a2015Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_a2015Abstract_lbl" xml:lang="en-US">2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_a2015Abstract" xlink:to="rcky_a2015Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_NetIncomePerCommonShareAbstract" xlink:href="rcky-20151231.xsd#rcky_NetIncomePerCommonShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_NetIncomePerCommonShareAbstract_lbl" xml:lang="en-US">Net income per common share:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_NetIncomePerCommonShareAbstract" xlink:to="rcky_NetIncomePerCommonShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessCombinationDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationDisclosureTextBlock_lbl" xml:lang="en-US">Business Combination Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationDisclosureTextBlock" xlink:to="us-gaap_BusinessCombinationDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_lbl" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock" xlink:to="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfPurchasePriceAllocationTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfPurchasePriceAllocationTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPurchasePriceAllocationTableTextBlock_lbl" xml:lang="en-US">Schedule of Purchase Price Allocation [Table Text Block] (Deprecated 2013-01-31)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPurchasePriceAllocationTableTextBlock" xlink:to="us-gaap_ScheduleOfPurchasePriceAllocationTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_PreliminaryAllocationOfPurchasePriceAbstract" xlink:href="rcky-20151231.xsd#rcky_PreliminaryAllocationOfPurchasePriceAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_PreliminaryAllocationOfPurchasePriceAbstract_lbl" xml:lang="en-US">Preliminary Allocation of Purchase Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_PreliminaryAllocationOfPurchasePriceAbstract" xlink:to="rcky_PreliminaryAllocationOfPurchasePriceAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US">Allowance for Doubtful Accounts Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdvertisingExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdvertisingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdvertisingExpense_lbl" xml:lang="en-US">Advertising Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdvertisingExpense" xlink:to="us-gaap_AdvertisingExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShippingHandlingAndTransportationCosts" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShippingHandlingAndTransportationCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShippingHandlingAndTransportationCosts_lbl" xml:lang="en-US">Shipping, Handling and Transportation Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShippingHandlingAndTransportationCosts" xlink:to="us-gaap_ShippingHandlingAndTransportationCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US">Amortization of Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Depreciation" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Depreciation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Depreciation_lbl" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Depreciation" xlink:to="us-gaap_Depreciation_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDuringPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" xml:lang="en-US">Line of Credit Facility, Interest Rate During Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:to="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd_lbl" xml:lang="en-US">Line of Credit Facility, Interest Rate at Period End</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd" xlink:to="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Libor_Loan" xlink:href="rcky-20151231.xsd#rcky_Libor_Loan"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Libor_Loan_lbl" xml:lang="en-US">Libor_Loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Libor_Loan" xlink:to="rcky_Libor_Loan_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityAmountOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Line of Credit Facility, Amount Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:to="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US">Line of Credit Facility, Current Borrowing Capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DividendsCommonStock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsCommonStock_lbl" xml:lang="en-US">Dividends, Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCommonStock" xlink:to="us-gaap_DividendsCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesRentExpenseNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesRentExpenseNet_lbl" xml:lang="en-US">Operating Leases, Rent Expense, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="us-gaap_OperatingLeasesRentExpenseNet_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_lbl" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xml:lang="en-US">Stock Issued During Period, Shares, Share-based Compensation, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_lbl" xml:lang="en-US">Stock Granted, Value, Share-based Compensation, Net of Forfeitures (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:to="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockSharesAuthorized" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Preferred Stock, Shares Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredUnitsAuthorized" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredUnitsAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredUnitsAuthorized_lbl" xml:lang="en-US">Preferred Units, Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredUnitsAuthorized" xlink:to="us-gaap_PreferredUnitsAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance_lbl" xml:lang="en-US">Convertible Preferred Stock, Shares Reserved for Future Issuance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance" xlink:to="us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_GovernmentContractMinimumPurchase" xlink:href="rcky-20151231.xsd#rcky_GovernmentContractMinimumPurchase"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_GovernmentContractMinimumPurchase_lbl" xml:lang="en-US">Government Contract Minimum Purchase (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_GovernmentContractMinimumPurchase" xlink:to="rcky_GovernmentContractMinimumPurchase_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_GovermentContractMaximumRevenue" xlink:href="rcky-20151231.xsd#rcky_GovermentContractMaximumRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_GovermentContractMaximumRevenue_lbl" xml:lang="en-US">Government Contract Maximum Revenue (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_GovermentContractMaximumRevenue" xlink:to="rcky_GovermentContractMaximumRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_ForeignSalesPercentage" xlink:href="rcky-20151231.xsd#rcky_ForeignSalesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_ForeignSalesPercentage_lbl" xml:lang="en-US">Foreign Sales Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_ForeignSalesPercentage" xlink:to="rcky_ForeignSalesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessCombinationConsiderationTransferredOther" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationConsiderationTransferredOther_lbl" xml:lang="en-US">Business Combination, Consideration Transferred, Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferredOther" xlink:to="us-gaap_BusinessCombinationConsiderationTransferredOther_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_lbl" xml:lang="en-US">Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual" xlink:to="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EquityComponentDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Trade_Mark_Domain" xlink:href="rcky-20151231.xsd#rcky_Trade_Mark_Domain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Trade_Mark_Domain_lbl" xml:lang="en-US">Trade_Mark_ [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Trade_Mark_Domain" xlink:to="rcky_Trade_Mark_Domain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Segment_Reporting_Domain" xlink:href="rcky-20151231.xsd#rcky_Segment_Reporting_Domain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Segment_Reporting_Domain_lbl" xml:lang="en-US">Segment_Reporting_ [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Segment_Reporting_Domain" xlink:to="rcky_Segment_Reporting_Domain_lbl"/>
    <loc xlink:type="locator" xlink:label="rcky_Segment_Gross_Margin_Domain" xlink:href="rcky-20151231.xsd#rcky_Segment_Gross_Margin_Domain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Segment_Gross_Margin_Domain_lbl" xml:lang="en-US">Segment_Gross_Margin_ [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Segment_Gross_Margin_Domain" xlink:to="rcky_Segment_Gross_Margin_Domain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SegmentReportingInformationLineItems" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SegmentReportingInformationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US">Segment Reporting Information [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProductsAndServicesDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProductsAndServicesDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProductsAndServicesDomain_lbl" xml:lang="en-US">Products and Services [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProductsAndServicesDomain" xlink:to="us-gaap_ProductsAndServicesDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfProductInformationTable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfProductInformationTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfProductInformationTable_lbl" xml:lang="en-US">Schedule of Product Information [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfProductInformationTable" xlink:to="us-gaap_ScheduleOfProductInformationTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProductInformationLineItems" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProductInformationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProductInformationLineItems_lbl" xml:lang="en-US">Product Information [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProductInformationLineItems" xlink:to="us-gaap_ProductInformationLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_GovermentContractMaximumRevenue_lbl0" xml:lang="en-US">The maximum amount of sales allowable under specific govementment contracts to produce goods.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_GovermentContractMaximumRevenue" xlink:to="rcky_GovermentContractMaximumRevenue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_GovernmentContractMinimumPurchase_lbl0" xml:lang="en-US">The minimum amount of purchase commitment under a government contract.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_GovernmentContractMinimumPurchase" xlink:to="rcky_GovernmentContractMinimumPurchase_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_Libor_Loan_lbl0" xml:lang="en-US">Amount of Libor Loans at Period End</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Libor_Loan" xlink:to="rcky_Libor_Loan_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_NetSales_Segment_Revenue_lbl0" xml:lang="en-US">Net Sales of the Reportable Segments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_NetSales_Segment_Revenue" xlink:to="rcky_NetSales_Segment_Revenue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_SalesRevenueSegment_lbl0" xml:lang="en-US">Total revenues for reportable segments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_SalesRevenueSegment" xlink:to="rcky_SalesRevenueSegment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_SegmentOperatingProfit_lbl0" xml:lang="en-US">Amount of income or loss for the reportable segment before unusual Items, equity method income or loss, income taxes, and extraordinary items.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_SegmentOperatingProfit" xlink:to="rcky_SegmentOperatingProfit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="rcky_SegmentOperatingProfitorLoss_lbl0" xml:lang="en-US">Amount of profit or loss recognized by the reportable segment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_SegmentOperatingProfitorLoss" xlink:to="rcky_SegmentOperatingProfitorLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Segment_Gross_Margin_Axis_lbl0" xml:lang="en-US">Segment_ Gross_ Margin_ [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Segment_Gross_Margin_Axis" xlink:to="rcky_Segment_Gross_Margin_Axis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Segment_Reporting_Axis_lbl0" xml:lang="en-US">Segment_ Reporting_ [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Segment_Reporting_Axis" xlink:to="rcky_Segment_Reporting_Axis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Trade_Mark_Axis_lbl0" xml:lang="en-US">Trade_ Mark_ [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Trade_Mark_Axis" xlink:to="rcky_Trade_Mark_Axis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Accumulated_Amortization_Member_lbl0" xml:lang="en-US">Accumulated_ Amortization_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Accumulated_Amortization_Member" xlink:to="rcky_Accumulated_Amortization_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Apparel_Member_lbl0" xml:lang="en-US">Apparel_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Apparel_Member" xlink:to="rcky_Apparel_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Carrying_Amount_Member_lbl0" xml:lang="en-US">Carrying_ Amount_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Carrying_Amount_Member" xlink:to="rcky_Carrying_Amount_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Commercial_Military_Member_lbl0" xml:lang="en-US">Commercial_ Military_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Commercial_Military_Member" xlink:to="rcky_Commercial_Military_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Lifestyle_Member_lbl0" xml:lang="en-US">Lifestyle_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Lifestyle_Member" xlink:to="rcky_Lifestyle_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Military_Member_lbl0" xml:lang="en-US">Military_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Military_Member" xlink:to="rcky_Military_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Other_Member_lbl0" xml:lang="en-US">Other_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Other_Member" xlink:to="rcky_Other_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Outdoor_Member_lbl0" xml:lang="en-US">Outdoor_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Outdoor_Member" xlink:to="rcky_Outdoor_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Retail_Member_lbl0" xml:lang="en-US">Retail_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Retail_Member" xlink:to="rcky_Retail_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Royalty_Income_Member_lbl0" xml:lang="en-US">Royalty_ Income_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Royalty_Income_Member" xlink:to="rcky_Royalty_Income_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Western_Member_lbl0" xml:lang="en-US">Western_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Western_Member" xlink:to="rcky_Western_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Wholesale_Member_lbl0" xml:lang="en-US">Wholesale_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Wholesale_Member" xlink:to="rcky_Wholesale_Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_Work_Member_lbl0" xml:lang="en-US">Work_ [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_Work_Member" xlink:to="rcky_Work_Member_lbl0"/>
    <loc xlink:type="locator" xlink:label="rcky_DocumentAndEntityInformationAbstract" xlink:href="rcky-20151231.xsd#rcky_DocumentAndEntityInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document and Entity Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_DocumentAndEntityInformationAbstract" xlink:to="rcky_DocumentAndEntityInformationAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_TrademarksAbstract_lbl0" xml:lang="en-US">TrademarksAbstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_TrademarksAbstract" xlink:to="rcky_TrademarksAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_FutureStockCompensationExpense_lbl0" xml:lang="en-US">FutureStockCompensationExpense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_TotalExpectedShareBasedCompensation_lbl0" xml:lang="en-US">TotalExpectedShareBasedCompensation</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_TrademarksAbstract0" xlink:to="rcky_TrademarksAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_NetSales_Segment_Revenue_lbl1" xml:lang="en-US">NetSales_Segment_Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_NetSales_Segment_Revenue" xlink:to="rcky_NetSales_Segment_Revenue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_OptionsExercisableAtAbstract0_lbl0" xml:lang="en-US">OptionsExercisableAtAbstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_OptionsExercisableAtAbstract0" xlink:to="rcky_OptionsExercisableAtAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="rcky_SegmentOperatingProfit_lbl1" xml:lang="en-US">SegmentOperatingProfit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rcky_SegmentOperatingProfit" xlink:to="rcky_SegmentOperatingProfit_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeBenefitsAndShareBasedCompensation_lbl0" xml:lang="en-US">Employee Benefits and Share-based Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeBenefitsAndShareBasedCompensation" xlink:to="us-gaap_EmployeeBenefitsAndShareBasedCompensation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityPublicFloat" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesIssued_lbl1" xml:lang="en-US">Shares, Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl0" xml:lang="en-US">Increase (Decrease) in Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationTaxHolidays_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Holiday, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxHolidays" xlink:to="us-gaap_IncomeTaxReconciliationTaxHolidays_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl0" xml:lang="en-US">Operating Income (Loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl0" xml:lang="en-US">Property, Plant and Equipment, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesGrossNoncurrent_lbl0" xml:lang="en-US">Deferred Tax Liabilities, Gross, Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesGrossNoncurrent" xlink:to="us-gaap_DeferredTaxLiabilitiesGrossNoncurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_lbl0" xml:lang="en-US">State and Local Income Tax Expense (Benefit), Continuing Operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations" xlink:to="us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl0" xml:lang="en-US">Common Stock, Shares, Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesOtherFiniteLivedAssets_lbl0" xml:lang="en-US">Deferred Tax Liabilities, Other Finite-Lived Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesOtherFiniteLivedAssets" xlink:to="us-gaap_DeferredTaxLiabilitiesOtherFiniteLivedAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl0" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsGross_lbl0" xml:lang="en-US">Deferred Tax Assets, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsGross" xlink:to="us-gaap_DeferredTaxAssetsGross_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_lbl0" xml:lang="en-US">Increase (Decrease) in Accounts Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit_lbl0" xml:lang="en-US">Current Federal Tax Expense (Benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="us-gaap_CurrentFederalTaxExpenseBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl0" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsNet_lbl0" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNet" xlink:to="us-gaap_DeferredTaxAssetsNet_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetCurrent" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_lbl0" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Assets Acquired (Deprecated 2013-01-31)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsStateTaxes_lbl0" xml:lang="en-US">Deferred Tax Assets, State Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsStateTaxes" xlink:to="us-gaap_DeferredTaxAssetsStateTaxes_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable_lbl0" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Current Liabilities, Accounts Payable (Deprecated 2013-01-31)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl0" xml:lang="en-US">Payments of Financing Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfFinancingCosts" xlink:to="us-gaap_PaymentsOfFinancingCosts_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl0" xml:lang="en-US">Payments to Acquire Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="us-gaap_PaymentsToAcquireIntangibleAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl0" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_lbl0" xml:lang="en-US">Deferred Tax Assets, Valuation Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_DeferredTaxAssetsValuationAllowance_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl0" xml:lang="en-US">Increase (Decrease) in Income Taxes Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl0" xml:lang="en-US">Repayments of Lines of Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLinesOfCredit" xlink:to="us-gaap_RepaymentsOfLinesOfCredit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl0" xml:lang="en-US">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl0" xml:lang="en-US">Liabilities and Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl0" xml:lang="en-US">Assets, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssued1_lbl0" xml:lang="en-US">Stock Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssued1" xlink:to="us-gaap_StockIssued1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl0" xml:lang="en-US">Liabilities, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl0" xml:lang="en-US">Payments to Acquire Businesses, Net of Cash Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl0" xml:lang="en-US">Deferred State and Local Income Tax Expense (Benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedPatentsGross_lbl0" xml:lang="en-US">Finite-Lived Patents, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedPatentsGross" xlink:to="us-gaap_FiniteLivedPatentsGross_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsInventory_lbl0" xml:lang="en-US">Deferred Tax Assets, Inventory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsInventory" xlink:to="us-gaap_DeferredTaxAssetsInventory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_lbl0" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_lbl0" xml:lang="en-US">Deferred Federal Income Tax Expense (Benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxesAndOtherAssetsCurrent_lbl0" xml:lang="en-US">Deferred Income Taxes and Other Assets, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxesAndOtherAssetsCurrent" xlink:to="us-gaap_DeferredIncomeTaxesAndOtherAssetsCurrent_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations" xlink:to="us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl2" xml:lang="en-US">Stockholders&apos; Equity Attributable to Parent</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers"/>
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    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl0" xml:lang="en-US">Current State and Local Tax Expense (Benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl0" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl0" xml:lang="en-US">Interest Expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxesAndTaxCredits_lbl0" xml:lang="en-US">Deferred Income Taxes and Tax Credits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:to="us-gaap_DeferredIncomeTaxesAndTaxCredits_lbl0"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementTable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementScenarioAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementScenarioAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US">Scenario [Axis]</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>16
<FILENAME>rcky-20151231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784062432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - USD ($)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Feb. 19, 2016</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Rocky Brands, Inc.<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">7,583,901<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
<td class="nump">$ 6,913,462<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000895456<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">No<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2015<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2015<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784556480">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>CURRENT ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 3,407,140<span></span>
</td>
<td class="nump">$ 4,616,694<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Trade receivables &#8211; net</a></td>
<td class="nump">44,549,207<span></span>
</td>
<td class="nump">55,807,103<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivables', window );">Other receivables</a></td>
<td class="nump">583,479<span></span>
</td>
<td class="nump">476,480<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
<td class="nump">76,991,059<span></span>
</td>
<td class="nump">85,237,042<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesReceivable', window );">Income tax receivable</a></td>
<td class="nump">128,699<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Deferred income taxes</a></td>
<td class="nump">1,031,818<span></span>
</td>
<td class="nump">1,291,907<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Prepaid expenses</a></td>
<td class="nump">2,530,517<span></span>
</td>
<td class="nump">2,553,442<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">129,221,919<span></span>
</td>
<td class="nump">149,982,668<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">FIXED ASSETS &#8211; net</a></td>
<td class="nump">27,836,527<span></span>
</td>
<td class="nump">26,264,641<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">IDENTIFIED INTANGIBLES</a></td>
<td class="nump">36,547,873<span></span>
</td>
<td class="nump">36,681,644<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">OTHER ASSETS</a></td>
<td class="nump">258,812<span></span>
</td>
<td class="nump">299,490<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">193,865,131<span></span>
</td>
<td class="nump">213,228,443<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>CURRENT LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">9,118,555<span></span>
</td>
<td class="nump">15,116,131<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_AccruedExpensesAbstract', window );"><strong>Accrued expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Salaries and wages</a></td>
<td class="nump">442,259<span></span>
</td>
<td class="nump">1,773,061<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrent', window );">Taxes - other</a></td>
<td class="nump">533,220<span></span>
</td>
<td class="nump">532,470<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesAndOtherLiabilities', window );">Accrued freight</a></td>
<td class="nump">427,412<span></span>
</td>
<td class="nump">683,482<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes', window );">Commissions</a></td>
<td class="nump">378,191<span></span>
</td>
<td class="nump">681,185<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Accrued duty</a></td>
<td class="nump">2,301,449<span></span>
</td>
<td class="nump">2,693,223<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,687,535<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Other</a></td>
<td class="nump">1,547,130<span></span>
</td>
<td class="nump">1,042,653<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">14,748,216<span></span>
</td>
<td class="nump">25,209,740<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">LONG TERM DEBT</a></td>
<td class="nump">23,700,089<span></span>
</td>
<td class="nump">36,270,373<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_DeferredLiabilitiesAbstract', window );"><strong>DEFERRED LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesNoncurrent', window );">Deferred income taxes</a></td>
<td class="nump">13,000,609<span></span>
</td>
<td class="nump">12,928,048<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrent', window );">Other deferred liabilities</a></td>
<td class="nump">295,676<span></span>
</td>
<td class="nump">472,364<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">51,744,590<span></span>
</td>
<td class="nump">74,880,525<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>SHAREHOLDERS' EQUITY:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital</a></td>
<td class="nump">70,882,392<span></span>
</td>
<td class="nump">70,460,672<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsUnappropriated', window );">Retained earnings</a></td>
<td class="nump">71,238,149<span></span>
</td>
<td class="nump">67,887,246<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders' equity</a></td>
<td class="nump">142,120,541<span></span>
</td>
<td class="nump">138,347,918<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</a></td>
<td class="nump">$ 193,865,131<span></span>
</td>
<td class="nump">$ 213,228,443<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_AccruedExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_AccruedExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_DeferredLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_DeferredLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 15<br> -Article 9<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 15<br> -Subparagraph b(1)<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesAndOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligations incurred and payable, pertaining to costs that are statutory in nature, incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include, but not limited to, taxes, interest, rent and utilities. Also includes the aggregate carrying amount of liabilities not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesAndOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount for commissions, taxes and other expenses that were incurred but unpaid as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesForCommissionsExpenseAndTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, netted by jurisdiction and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.5(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph ((a)(1),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IntangibleAssetsNetExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amounts due as of the balance sheet date from parties or arising from transactions not otherwise specified in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=51662447&amp;loc=d3e5879-108316<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Assets<br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsUnappropriated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A segregation of retained earnings which is available for dividend distribution. Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt. Unappropriated profit is part of shareholder equity. Also called cumulative distributions or earned surplus or accumulated earnings or unappropriated profit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(3)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.23(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 24<br> -Subparagraph a(4)<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsUnappropriated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774617408">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parentheticals) - shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital</a></td>
<td class="nump">7,567,271<span></span>
</td>
<td class="nump">7,550,126<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
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<TEXT>
<html>
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<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784383888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">NET SALES</a></td>
<td class="nump">$ 269,302,023<span></span>
</td>
<td class="nump">$ 286,242,169<span></span>
</td>
<td class="nump">$ 244,870,731<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsSold', window );">COST OF GOODS SOLD</a></td>
<td class="nump">180,410,184<span></span>
</td>
<td class="nump">189,881,444<span></span>
</td>
<td class="nump">161,328,280<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">GROSS MARGIN</a></td>
<td class="nump">88,891,839<span></span>
</td>
<td class="nump">96,360,725<span></span>
</td>
<td class="nump">83,542,451<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>OPERATING EXPENSES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="nump">78,402,079<span></span>
</td>
<td class="nump">80,597,934<span></span>
</td>
<td class="nump">71,351,688<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationAcquisitionRelatedCosts', window );">Acquisition related expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,172,047<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">78,402,079<span></span>
</td>
<td class="nump">80,597,934<span></span>
</td>
<td class="nump">72,523,735<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">INCOME FROM OPERATIONS</a></td>
<td class="nump">10,489,760<span></span>
</td>
<td class="nump">15,762,791<span></span>
</td>
<td class="nump">11,018,716<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncomeAndExpensesAbstract', window );"><strong>OTHER INCOME AND (EXPENSES):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(696,827)<span></span>
</td>
<td class="num">(943,154)<span></span>
</td>
<td class="num">(688,502)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainOnPurchaseOfBusiness', window );">Gain on bargain purchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">601,975<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other - net</a></td>
<td class="num">(105,433)<span></span>
</td>
<td class="num">(78,455)<span></span>
</td>
<td class="num">(116,665)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Total other - net</a></td>
<td class="num">(802,260)<span></span>
</td>
<td class="num">(1,021,609)<span></span>
</td>
<td class="num">(203,192)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">INCOME BEFORE INCOME TAXES</a></td>
<td class="nump">9,687,500<span></span>
</td>
<td class="nump">14,741,182<span></span>
</td>
<td class="nump">10,815,524<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">INCOME TAX EXPENSE</a></td>
<td class="nump">3,084,343<span></span>
</td>
<td class="nump">4,895,884<span></span>
</td>
<td class="nump">3,442,768<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">COMPREHENSIVE INCOME</a></td>
<td class="nump">$ 6,603,157<span></span>
</td>
<td class="nump">$ 9,845,298<span></span>
</td>
<td class="nump">$ 7,372,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetIncomePerShareAbstract', window );"><strong>NET INCOME PER SHARE</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in Dollars per share)</a></td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="nump">$ 1.30<span></span>
</td>
<td class="nump">$ 0.98<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in Dollars per share)</a></td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="nump">$ 1.30<span></span>
</td>
<td class="nump">$ 0.98<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract', window );"><strong>WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in Shares)</a></td>
<td class="nump">7,563,205<span></span>
</td>
<td class="nump">7,544,936<span></span>
</td>
<td class="nump">7,517,364<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in Shares)</a></td>
<td class="nump">7,574,172<span></span>
</td>
<td class="nump">7,547,781<span></span>
</td>
<td class="nump">7,517,364<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_NetIncomePerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_NetIncomePerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_WeightedAverageNumberOfCommonSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationAcquisitionRelatedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=34752592&amp;loc=d3e1043-128460<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationAcquisitionRelatedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs related to goods produced and sold during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfGoodsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainOnPurchaseOfBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the excess of the fair value of acquired net assets over the cost of an acquired business after pro rata reduction of the amounts that otherwise would have been assigned to acquired assets except financial assets other than investments accounted for by the equity method, assets to be disposed of by sale, deferred tax assets, prepaid assets relating to pension and postretirement benefit plans, and other current assets. This amount is considered an extraordinary item and often referred to as negative goodwill. This element is gross of the related tax effect.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainOnPurchaseOfBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIncomeAndExpensesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncomeExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51677171&amp;loc=d3e3636-108311<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784890016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY - USD ($)<br></strong></div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Common Stock Including Additional Paid in Capital [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE - December 31, 20 at Dec. 31, 2012</a></td>
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<td class="nump">$ 55,942,106<span></span>
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<td class="nump">$ 125,636,876<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE - December 31, 20 (in Shares) at Dec. 31, 2012</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_YearEndedDecember312013Abstract', window );"><strong>YEAR ENDED DECEMBER 31, 2013</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,372,756<span></span>
</td>
<td class="nump">7,372,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCommonStockCash', window );">Dividends Paid on Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,254,935)<span></span>
</td>
<td class="num">(2,254,935)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Stock compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">458,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">458,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock compensation expense (in Shares)</a></td>
<td class="nump">32,880<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE - December 31, 20 at Dec. 31, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,153,570<span></span>
</td>
<td class="nump">61,059,927<span></span>
</td>
<td class="nump">131,213,497<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE - December 31, 20 (in Shares) at Dec. 31, 2013</a></td>
<td class="nump">7,536,448<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_YearEndedDecember312013Abstract', window );"><strong>YEAR ENDED DECEMBER 31, 2013</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,845,298<span></span>
</td>
<td class="nump">9,845,298<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCommonStockCash', window );">Dividends Paid on Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,017,979)<span></span>
</td>
<td class="num">(3,017,979)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Stock compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">307,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">307,102<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock compensation expense (in Shares)</a></td>
<td class="nump">13,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE - December 31, 20 at Dec. 31, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,460,672<span></span>
</td>
<td class="nump">67,887,246<span></span>
</td>
<td class="nump">138,347,918<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE - December 31, 20 (in Shares) at Dec. 31, 2014</a></td>
<td class="nump">7,550,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_YearEndedDecember312013Abstract', window );"><strong>YEAR ENDED DECEMBER 31, 2013</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,603,157<span></span>
</td>
<td class="nump">6,603,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCommonStockCash', window );">Dividends Paid on Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,252,254)<span></span>
</td>
<td class="num">(3,252,254)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense', window );">Stock issued and options exercised including related tax benefits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,742<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Stock issued and options exercised including related tax benefits (in Shares)</a></td>
<td class="nump">600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Stock compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">412,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 412,978<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock compensation expense (in Shares)</a></td>
<td class="nump">16,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE - December 31, 20 at Dec. 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 70,882,392<span></span>
</td>
<td class="nump">$ 71,238,149<span></span>
</td>
<td class="nump">$ 142,120,541<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE - December 31, 20 (in Shares) at Dec. 31, 2015</a></td>
<td class="nump">7,567,271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_YearEndedDecember312013Abstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCommonStockCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid common stock dividends declared with the form of settlement in cash.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of stock issued in noncash financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued as a result of the exercise of stock options, after deduction of related income tax (expense) benefit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784457296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_CashFlowsFromOperatingActivitiesAbstract', window );"><strong>CASH FLOWS FROM OPERATING ACTIVITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 6,603,157<span></span>
</td>
<td class="nump">$ 9,845,298<span></span>
</td>
<td class="nump">$ 7,372,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAmortizationAndAccretionNet', window );">Depreciation and amortization</a></td>
<td class="nump">7,188,123<span></span>
</td>
<td class="nump">6,941,905<span></span>
</td>
<td class="nump">6,264,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxesAndTaxCredits', window );">Deferred income taxes</a></td>
<td class="nump">332,650<span></span>
</td>
<td class="nump">989,473<span></span>
</td>
<td class="nump">750,363<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on disposal of fixed assets</a></td>
<td class="nump">19,500<span></span>
</td>
<td class="nump">138,056<span></span>
</td>
<td class="nump">52,293<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Gain on acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(601,975)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock compensation expense</a></td>
<td class="nump">412,978<span></span>
</td>
<td class="nump">307,102<span></span>
</td>
<td class="nump">458,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_ChangeInAssetsAndLiabilitiesAbstract', window );"><strong>Change in assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInReceivables', window );">Receivables</a></td>
<td class="nump">11,150,897<span></span>
</td>
<td class="num">(6,888,027)<span></span>
</td>
<td class="num">(3,182,751)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="nump">8,245,983<span></span>
</td>
<td class="num">(7,065,372)<span></span>
</td>
<td class="num">(9,813,065)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable', window );">Income tax receivable</a></td>
<td class="num">(128,699)<span></span>
</td>
<td class="nump">242,228<span></span>
</td>
<td class="num">(242,228)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Other current assets</a></td>
<td class="nump">22,925<span></span>
</td>
<td class="num">(24,035)<span></span>
</td>
<td class="num">(319,340)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="nump">40,678<span></span>
</td>
<td class="nump">109,208<span></span>
</td>
<td class="nump">68,214<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts payable</a></td>
<td class="num">(6,004,991)<span></span>
</td>
<td class="nump">4,004,111<span></span>
</td>
<td class="num">(4,779,055)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilities', window );">Accrued and other liabilities</a></td>
<td class="num">(4,640,636)<span></span>
</td>
<td class="nump">4,380,101<span></span>
</td>
<td class="nump">1,518,524<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by (used in) operating activities</a></td>
<td class="nump">23,242,565<span></span>
</td>
<td class="nump">12,980,048<span></span>
</td>
<td class="num">(2,453,218)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_CashFlowsFromInvestingActivitiesAbstract', window );"><strong>CASH FLOWS FROM INVESTING ACTIVITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of fixed assets</a></td>
<td class="num">(8,654,642)<span></span>
</td>
<td class="num">(7,442,086)<span></span>
</td>
<td class="num">(7,717,102)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from sales of fixed assets</a></td>
<td class="nump">17,495<span></span>
</td>
<td class="nump">63,012<span></span>
</td>
<td class="nump">47,625<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired', window );">Acquisition of business assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,229,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireIntangibleAssets', window );">Investment in trademarks and patents</a></td>
<td class="num">(1,176)<span></span>
</td>
<td class="num">(9,446)<span></span>
</td>
<td class="num">(68,452)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(8,638,323)<span></span>
</td>
<td class="num">(7,388,520)<span></span>
</td>
<td class="num">(9,966,929)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_CashFlowsFromFinancingActivitiesAbstract', window );"><strong>CASH FLOWS FROM FINANCING ACTIVITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Proceeds from revolving credit facility</a></td>
<td class="nump">68,423,672<span></span>
</td>
<td class="nump">75,190,968<span></span>
</td>
<td class="nump">78,622,969<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLinesOfCredit', window );">Repayments on revolving credit facility</a></td>
<td class="num">(80,993,956)<span></span>
</td>
<td class="num">(77,308,793)<span></span>
</td>
<td class="num">(63,696,111)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Debt financing costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(54,647)<span></span>
</td>
<td class="num">(58,738)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from stock options</a></td>
<td class="nump">8,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCash', window );">Dividends paid on common stock</a></td>
<td class="num">(3,252,254)<span></span>
</td>
<td class="num">(3,017,979)<span></span>
</td>
<td class="num">(2,254,935)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in) provided by financing activities</a></td>
<td class="num">(15,813,796)<span></span>
</td>
<td class="num">(5,190,451)<span></span>
</td>
<td class="nump">12,613,185<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS</a></td>
<td class="num">(1,209,554)<span></span>
</td>
<td class="nump">401,077<span></span>
</td>
<td class="nump">193,038<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAbstract', window );"><strong>CASH AND CASH EQUIVALENTS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">BEGINNING OF PERIOD</a></td>
<td class="nump">4,616,694<span></span>
</td>
<td class="nump">4,215,617<span></span>
</td>
<td class="nump">4,022,579<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">END OF PERIOD</a></td>
<td class="nump">$ 3,407,140<span></span>
</td>
<td class="nump">$ 4,616,694<span></span>
</td>
<td class="nump">$ 4,215,617<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_CashFlowsFromFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_CashFlowsFromFinancingActivitiesAbstract</td>
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</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_CashFlowsFromInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_CashFlowsFromInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_CashFlowsFromOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_CashFlowsFromOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_ChangeInAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_ChangeInAssetsAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxesAndTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) and income tax credits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11374-113907<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxesAndTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAmortizationAndAccretionNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAmortizationAndAccretionNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash dividends declared for classes of stock, for example, but not limited to, common and preferred.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 405<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInIncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774756960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies [Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt">1.</td>
     <td>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><font style="font-family: Times New Roman, Times, Serif"><b><i>Principles of Consolidation</i></b></font> - The accompanying consolidated financial statements include the accounts of Rocky Brands, Inc. (&#x201c;Rocky&#x201d;) and its wholly-owned subsidiaries, Lifestyle Footwear, Inc. (&#x201c;Lifestyle&#x201d;), Five Star Enterprises Ltd. (&#x201c;Five Star&#x201d;), Rocky Canada, Inc. (&#x201c;Rocky Canada&#x201d;), Rocky Brands Wholesale, LLC, Rocky Brands International, LLC, Lehigh Outfitters, LLC, Creative Recreation, LLC, Creative Recreation International, LLC and Creative Recreation Retail, LLC, collectively referred to as the &#x201c;Company.&#x201d; All inter-company transactions have been eliminated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><font style="font-family: Times New Roman, Times, Serif"><b><i>Business Activity</i></b></font> - We are a leading designer, manufacturer and marketer of premium quality footwear marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh and Creative Recreation. Our brands have a long history of representing high quality, comfortable, functional and durable footwear and our products are organized around six target markets: outdoor, work, duty, commercial military, western and lifestyle. In addition, as part of our strategy of outfitting consumers from head-to-toe, we market complementary branded apparel and accessories that we believe leverage the strength and positioning of each of our brands.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Our products are distributed through three distinct business segments: wholesale, retail and military. In our wholesale business, we distribute our products through a wide range of distribution channels representing over ten thousand retail store locations in the U.S. and Canada. Our wholesale channels vary by product line and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers. Our retail business includes direct sales of our products to consumers through our e-commerce websites and our Rocky outlet store. We operate four mobile trucks to service the New York Transit Authority&#x2019;s employees. We also sell footwear under the Rocky label to the U.S. military.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We did not have any single customer account for more than 10% of consolidated net sales in 2015, 2014 or 2013.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Estimates</i></b> - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><font style="font-family: Times New Roman, Times, Serif"><b><i>Cash and Cash Equivalents</i></b></font> - We consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Our cash and cash equivalents are primarily held in five banks. Balances may exceed federally insured limits.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Trade Receivables</i></b> - Trade receivables are presented net of the related allowance for uncollectible accounts of approximately $820,000 and $1,002,000 at December 31, 2015 and 2014, respectively. The allowance for uncollectible accounts is calculated based on the relative age and status of trade receivable balances. Our credit policy generally provides that trade receivables will be deemed uncollectible and written-off once we have pursued all reasonable efforts to collect on the account.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Concentration of Credit Risk</i></b> - We have significant transactions with a large number of customers. No customer represented 10% of trade receivables - net as of December 31, 2015 and 2014. Our exposure to credit risk is impacted by the economic climate affecting the retail shoe industry. We manage this risk by performing ongoing credit evaluations of our customers and maintain reserves for potential uncollectible accounts.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Supplier and Labor Concentrations</i></b> - We purchase raw materials from a number of domestic and foreign sources. We currently buy the majority of our waterproof fabric, a component used in a significant portion of our shoes and boots, from one supplier (W.L. Gore &amp; Associates, Inc.). We have had a relationship with this supplier for over 20 years and have no reason to believe that such relationship will not continue.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We produce a portion of our shoes and boots in our Dominican Republic operation and in our Puerto Rico operation. We are not aware of any governmental or economic restrictions that would alter these current operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We source a significant portion of our footwear, apparel and gloves from manufacturers in the Far East, primarily China. We are not aware of any governmental or economic restrictions that would alter our current sourcing operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><font style="font-family: Times New Roman, Times, Serif"><b><i>Inventories</i></b></font> - Inventories are valued at the lower of cost, determined on a first-in, first-out (FIFO) basis, or market. Reserves are established for inventories when the net realizable value (NRV) is deemed to be less than its cost based on our periodic estimates of NRV.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><font style="font-family: Times New Roman, Times, Serif"><b><i>Fixed Assets</i></b></font> - The Company records fixed assets at historical cost and generally utilizes the straight-line method of computing depreciation for financial reporting purposes over the estimated useful lives of the assets as follows:</p><br/><table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.75in">

    <tr>
     <td style="vertical-align: top; width: 71%; font-size: 10pt">&nbsp;</td>
     <td style="width: 29%; text-decoration: underline; text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><u style="text-decoration: none">Years</u></td>
    </tr>
    <tr style="vertical-align: top">
     <td style="font-size: 10pt">Buildings and improvements</td>
     <td style="text-align: center; font-size: 10pt">5-40</td>
    </tr>
    <tr style="vertical-align: top">
     <td style="font-size: 10pt">Machinery and equipment</td>
     <td style="text-align: center; font-size: 10pt">3-8</td>
    </tr>
    <tr style="vertical-align: top">
     <td style="font-size: 10pt">Furniture and fixtures</td>
     <td style="text-align: center; font-size: 10pt">3-8</td>
    </tr>
    <tr style="vertical-align: top">
     <td style="font-size: 10pt">Lasts, dies, and patterns</td>
     <td style="text-align: center; font-size: 10pt">3</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">For income tax purposes, the Company generally computes depreciation utilizing accelerated methods.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><b><i>Identified intangible assets</i></b> - Identified intangible assets consist of indefinite lived trademarks and definite lived trademarks, patents and customer lists. Indefinite lived intangible assets are not amortized.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">If events or circumstances change, a determination is made by management, in accordance with the accounting standard for &#x201c;Property, Plant and Equipment&#x201d; to ascertain whether property, equipment and certain finite-lived intangibles have been impaired based on the sum of expected future undiscounted cash flows from operating activities. If the estimated net cash flows are less than the carrying amount of such assets, we will recognize an impairment loss in an amount necessary to write down the assets to fair value as determined from expected future discounted cash flows.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In accordance with the accounting standard for &#x201c;Intangibles &#x2013; Goodwill and Other&#x201d;, we test intangible assets with indefinite lives for impairment annually or when conditions indicate impairment may have occurred. We perform such testing of our indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Advertising</i></b> - We expense advertising costs as incurred. Advertising expense was approximately $9,869,000, $8,623,000, and $8,038,000 for 2015, 2014 and 2013, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Revenue Recognition</i></b> -<b><i> </i></b>Revenue and related cost of goods sold are recognized at the time products are shipped to the customer and title transfers. Revenue is recorded net of estimated sales discounts and returns based upon specific customer agreements and historical trends. Net sales include royalty income from licensing our brands.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Shipping Costs</i></b> - In accordance with the accounting standard for revenue recognition, all shipping costs billed to customers have been included in net sales. All outbound shipping costs to customers has been included in selling, general and administrative costs and totaled approximately $8,500,000, $9,254,000 and $8,294,000 in 2015, 2014 and 2013, respectively. Our gross profit may not be comparable to other entities whose shipping and handling is a component of cost of sales.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Per Share Information</i></b> - Basic net income per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed similarly but includes the dilutive effect of stock options. A reconciliation of the shares used in the basic and diluted income per share computations is as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 61%">Basic - weighted average shares outstanding</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">7,563,205</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">7,544,936</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">7,517,364</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Dilutive restricted share units</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9,987</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,845</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Dilutive stock options</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">980</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Diluted - weighted average shares outstanding</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">7,574,172</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">7,547,781</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">7,517,364</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Anti-Dilutive securities - stock options</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">84,210</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">43,029</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8,630</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">The fair values of cash, accounts receivable, other receivables and accounts payable approximated their carrying values because of the short-term nature of these instruments. Accounts receivable consists primarily of amounts due from our customers, net of allowances. Other receivables consist primarily of amounts due from employees (sales persons&#x2019; advances in excess of commissions earned and employee travel advances); other customer receivables, net of allowances; and expected insurance recoveries. The carrying amounts of our revolving line of credit and other short-term financing obligations also approximate fair value, as they are comparable to the available financing in the marketplace during the year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of an Entity. The amendments in this update change the requirements for reporting discontinued operations in Subtopic 205-20. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity&#x2019;s operations and financial results when any of the following occurs: 1. The component of an entity or group of components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. 2. The component of an entity or group of components of an entity is disposed of by sale. 3. The component of an entity or group of components of an entity is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff). The update is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. The adoption of this standard did not have an effect on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The amendments in this update supersede the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition&#x2014;Construction-Type and Production-Type Contracts, and create new Subtopic 340-40, Other Assets and Deferred Costs&#x2014;Contracts with Customers. In summary, the core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14. The amendments in this update defer the effective date of Update 2014-09. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In June 2014, the FASB issued ASU No. 2014-12, Compensation &#x2013; Stock Compensation (Topic 718). Some share-based payment awards that require a specific performance target to be achieved before the employee can benefit from the award, also require an employee to render service until the performance target is achieved. In some cases, the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. That is, the employee would be entitled to benefit from the award regardless of whether the employee is rendering service on the date the performance target is achieved. Some entities account for those performance targets as performance conditions that affect the vesting of the award and, therefore, do not reflect the performance target in the estimate of the grant-date fair value. Others treat them as nonvesting conditions that affect the grant-date fair value of the award. The amendments apply to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target can be achieved after the requisite service period. The update is effective for public entities for annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements &#x2013; Going Concern (Subtopic 205-40). Currently, there is no guidance in GAAP about management&#x2019;s responsibility to evaluate whether there is substantial doubt about an entity&#x2019;s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this update provide that guidance. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity&#x2019;s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term <i>substantial doubt, </i>(2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management&#x2019;s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management&#x2019;s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The update is effective for public entities for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In January 2015, the FASB issued ASU No. 2015-01, Income Statement &#x2013; Extraordinary and Unusual Items (Subtopic 225-20). The objective of this update is to simplify the income statement presentation requirements in Subtopic 225-20 by eliminating the concept of extraordinary items. Extraordinary items are events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence. Eliminating the extraordinary classification simplifies income statement presentation by altogether removing the concept of extraordinary items from consideration. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In April 2015, the FASB issued ASU No. 2015-03, Interest &#x2013; Imputation of Interest (Subtopic 835-30). The objective of this update is to simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The amendments in this update are effective for fiscal years beginning after December 15, 2015. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information that has been retrospectively adjusted, and the effect of the change on the financial statement line items (that is, debt issuance cost asset and the debt liability). We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330). The amendments in this Update require an entity to measure inventory within the scope of this Update at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this Update more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In November 2015, the FASB issued ASU No. 2015-17, Income Taxes - Balance Sheet Classification of Deferred Taxes (Topic 740). The amendments in this Update will simplify the presentation of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this Update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this Update. For public business entities, the amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this Update will require lessees to recognize (with the exception of short-term leases) a lease liability, which is a lessee&#x2018;s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee&#x2019;s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. For public business entities, the amendments in this Update are effective for years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted for all entities upon issuance. We have not yet determined the impact this ASU will have on our consolidated financial statements.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769658640">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>2. INVENTORIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventory Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">Inventory Disclosure [Text Block]</a></td>
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     <td style="width: 23.75pt; text-align: left">2.</td>
     <td style="text-align: justify">INVENTORIES</td>
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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Inventories are comprised of the following:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center">December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
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    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 74%; text-align: left">Raw materials</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">12,494,980</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">11,702,762</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Work-in-process</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,155,837</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">577,127</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Finished goods</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">63,340,242</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">72,957,153</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">76,991,059</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">85,237,042</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770248768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>3. IDENTIFIED INTANGIBLE ASSETS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsDisclosureTextBlock', window );">Intangible Assets Disclosure [Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt">3.</td>
     <td>IDENTIFIED INTANGIBLE ASSETS</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">A schedule of identified intangible assets is as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 30pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center">Gross</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center">Accumulated</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center">Carrying</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid">December 31, 2015</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortization</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Trademarks</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 61%; padding-left: 9pt">Wholesale</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">32,343,578</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">-</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">32,343,578</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,900,000</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,900,000</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Patents</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,595,477</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,324,515</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">270,962</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Customer Relationships</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">2,200,000</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,166,667</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,033,333</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Total Intangibles</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">40,039,055</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,491,182</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">36,547,873</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><table style="font: 10pt/normal Times New Roman, Times, Serif; width: 90%; margin-left: 30pt; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0">

    <tr style="vertical-align: bottom;">
     <td nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
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    <tr style="vertical-align: bottom;">
     <td style="font-weight: bold; border-bottom: Black 1pt solid;" nowrap="nowrap">December 31, 2014</td>
     <td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: #cceeff;">
     <td>Trademarks</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; ">
     <td style="width: 61%; padding-left: 9pt;">Wholesale</td>
     <td style="width: 1%;">&nbsp;</td>
     <td style="width: 1%; text-align: left;">$</td>
     <td style="width: 10%; text-align: right;">32,343,578</td>
     <td style="width: 1%; text-align: left;">&nbsp;</td>
     <td style="width: 1%;">&nbsp;</td>
     <td style="width: 1%; text-align: left;">$</td>
     <td style="width: 10%; text-align: right;">-</td>
     <td style="width: 1%; text-align: left;">&nbsp;</td>
     <td style="width: 1%;">&nbsp;</td>
     <td style="width: 1%; text-align: left;">$</td>
     <td style="width: 10%; text-align: right;">32,343,578</td>
     <td style="width: 1%; text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: #cceeff;">
     <td style="padding-left: 9pt;">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,900,000</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">-</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,900,000</td>
     <td style="text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; ">
     <td>Patents</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,594,301</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,269,569</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">324,732</td>
     <td style="text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: #cceeff;">
     <td style="text-align: left; padding-bottom: 1pt;">Customer Relationships</td>
     <td style="padding-bottom: 1pt;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right;">2,200,000</td>
     <td style="padding-bottom: 1pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 1pt;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right;">1,086,666</td>
     <td style="padding-bottom: 1pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 1pt;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right;">1,113,334</td>
     <td style="padding-bottom: 1pt; text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; ">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;">Total Intangibles</td>
     <td style="padding-bottom: 2.5pt;">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left;">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right;">40,037,879</td>
     <td style="padding-bottom: 2.5pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 2.5pt;">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left;">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right;">3,356,235</td>
     <td style="padding-bottom: 2.5pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 2.5pt;">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left;">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right;">36,681,644</td>
     <td style="padding-bottom: 2.5pt; text-align: left;">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">Amortization expense related to finite-lived intangible assets was approximately $135,000, $135,000 and $60,000 in 2015, 2014 and 2013, respectively. Such amortization expense will be approximately $121,000 per year for 2016 through 2020. The increase in 2015 and 2014 was attributed to the additional amortization related to the additional customer relationship from the acquisition of the Creative Recreation business as noted in Note 15.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">The weighted average lives of patents and customer relationships are 6 years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">Intangible assets, including trademarks and patents are reviewed for impairment annually, and more frequently, if necessary. We perform such testing of indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of the asset below its carrying amount. Fair value of other indefinite-lived intangible assets is determined using the relief from royalty method.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">In assessing whether indefinite-lived intangible assets are impaired, we must make certain estimates and assumptions regarding future cash flows, long-term growth rates of our business, operating margins, weighted average cost of capital and other factors such as; discount rates, royalty rates, cost of capital, and market multiples to determine the fair value of our assets. These estimates and assumptions require management&#x2019;s judgment, and changes to these estimates and assumptions could materially affect the determination of fair value and/or impairment for each of our indefinite-lived intangible assets. Future events could cause us to conclude that indications of intangible asset impairment exist. Impairment may result from, among other things, deterioration in the performance of our business, adverse market conditions, adverse changes in applicable laws and regulations, competition, or the sale or disposition of a reporting segment. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">We evaluate our finite and indefinite lived trademarks under the terms and provisions of the accounting standards for &#x201c;Intangibles - Goodwill and Other&#x201d;; and &#x201c;Property, Plant and Equipment.&#x201d; These pronouncements require that we compare the fair value of an intangible asset with its carrying amount. Our 2015 and 2014 evaluation did not result in the impairment of any of our indefinite lived intangible assets.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all or part of the information related to intangible assets.</p></div>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770098528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>4. OTHER ASSETS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockSupplementAbstract', window );"><strong>Disclosure Text Block Supplement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsDisclosureTextBlock', window );">Other Assets Disclosure [Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt">4.</td>
     <td>OTHER ASSETS</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify">Other assets consist of the following:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center; padding-bottom: 1pt">December 31,</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 74%; text-align: left">Deferred financing costs, net</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">120,403</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">151,144</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt">Other</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">138,409</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">148,346</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">258,812</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">299,490</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureTextBlockSupplementAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770339936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>5. FIXED ASSETS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Property, Plant and Equipment Disclosure [Text Block]</a></td>
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    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt">5.</td>
     <td>FIXED ASSETS</td>
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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Fixed assets are comprised of the following:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center">December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 74%">Land</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">671,035</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">671,035</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Buildings</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,247,770</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,027,998</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Machinery and equipment</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">40,611,815</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">39,206,408</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Furniture and fixtures</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,722,751</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,491,295</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Lasts, dies and patterns</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13,811,676</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">12,131,234</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Construction work-in-progress</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">3,161,533</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">281,198</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Total</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">80,226,580</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">73,809,168</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Less - accumulated depreciation</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(52,390,053</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(47,544,527</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Net Fixed Assets</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">27,836,527</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">26,264,641</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We incurred approximately $7,053,000, $6,807,000 and $6,204,000 in depreciation expense for 2015, 2014 and 2013, respectively.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13-14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774768784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>6. LONG-TERM DEBT<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Debt Disclosure [Text Block]</a></td>
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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In October 2010, we entered into a financing agreement with PNC Bank (&#x201c;PNC&#x201d;) to provide a $70 million credit facility. In December 2014, we amended and restated the credit facility to increase the facility to $75 million and extend the term of the facility an additional five years. The credit facility&#x2019;s base interest rate is the current prime rate less 0.25%, however the credit facility provides us the option to borrow on up to eight fixed loans at LIBOR plus 1.25% in accordance with the 2014 amended and restated credit agreement. The LIBOR rate is determined based on the fixed loan maturities, which vary from 30, 60, 90, or 180 days. As of December 31, 2015 and December 31, 2014, we had approximately $17.0 million and $35.0 million, respectively, in fixed LIBOR borrowings under the credit facility.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">The total amount available under our amended and restated revolving credit facility is subject to a borrowing base calculation based on various percentages of accounts receivable and inventory. As of December 31, 2015, we had $23.7 million in borrowings under this facility and total capacity of $66.3 million.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">Our amended and restated credit facility contains a restrictive covenant which requires us to maintain a fixed charge coverage ratio. This restrictive covenant is only in effect upon a triggering event taking place (as defined in the amended and restated credit facility agreement). At December 31, 2015, there was no triggering event and the covenant was not in effect. Our amended and restated credit facility places a restriction on the amount of dividends that may be paid. During 2015, 2014 and 2013, we paid dividends on our common stock totaling $3,252,254, $3,017,979 and $2,254,935, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify">Our amended and restated revolving credit facility matures in November 2019. We have no other long-term debt maturities.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20,22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774780112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>7. OPERATING LEASES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We lease certain machinery, trucks, and facilities under operating leases that generally provide for renewal options. We incurred approximately $1,335,000, $1,324,000 and $840,000 in rent expense under operating lease arrangements for 2015, 2014 and 2013, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Future minimum lease payments under non-cancelable operating leases are approximately as follows for the years ended December 31:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">

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     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
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     <td>&nbsp;</td>
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     <td>&nbsp;</td>
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     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">110,143</td>
     <td style="text-align: left">&nbsp;</td>
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     <td style="text-align: justify; padding-bottom: 1pt">2020</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">-</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
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     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
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     <td style="padding-bottom: 2.5pt; text-align: justify">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,064,143</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.  Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 1,3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6851643&amp;loc=d3e12069-110248<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610270560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>8. RETIREMENT PLANS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We also sponsor a 401(k) savings plan for substantially all of our employees. We provide a contribution of 3% of applicable salary to the plan for all employees with greater than six months of service. Additionally, we match eligible employee contributions at a rate of 0.25%, per one percent of applicable salary contributed to the plan by the employee. This matching contribution will be made by us up to a maximum of 1% of the employee&#x2019;s applicable salary for all qualified employees. Our contributions to the 401(k) plan were approximately $1.0 million in 2015, $1.0 million in 2014 and $0.9 million in 2013.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for pension and other postretirement benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 80<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49170332&amp;loc=SL14450702-114947<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=58740216&amp;loc=d3e2410-114920<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 60<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6414203&amp;loc=d3e39675-114964<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49170846&amp;loc=d3e28014-114942<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 60<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6414199&amp;loc=d3e39622-114963<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770191776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>9. INCOME TAXES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Tax Disclosure [Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

    <tr style="vertical-align: top">
     <td style="width: 0%"></td>
     <td style="width: 23.75pt"><b>9.</b></td>
     <td><b>INCOME TAXES</b></td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The Company accounts for income taxes in accordance with the accounting standard for &#x201c;Income Taxes&#x201d;, which requires an asset and liability approach to financial accounting and reporting for income taxes. Accordingly, deferred income taxes have been provided for the temporary differences between the financial reporting and the income tax basis of the Company&#x2019;s assets and liabilities by applying enacted statutory tax rates applicable to future years to the basis differences.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">A breakdown of our income tax expense is as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Federal:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 61%; padding-left: 9pt">Current</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">2,656,870</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">3,656,356</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">2,540,701</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Deferred</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">287,755</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">848,666</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">778,213</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 0.25in">Total Federal</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,944,625</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,505,022</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,318,914</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">State &amp; local:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Current</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">81,433</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">203,144</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">109,254</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Deferred</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">86,863</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">140,552</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(29,619</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 0.25in">Total State &amp; local</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">168,296</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">343,696</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">79,635</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Foreign</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Current</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13,391</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">46,911</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">42,450</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Deferred</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(41,969</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">255</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,769</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total Foreign</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(28,578</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">47,166</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">44,219</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,084,343</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">4,895,884</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,442,768</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">A reconciliation of recorded Federal income tax expense to the expected expense computed by applying the applicable Federal statutory rate for all periods to income before income taxes follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td style="font-weight: bold">&nbsp;</td>
     <td colspan="10" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 61%; text-align: left">Expected expense at statutory rate</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">3,404,159</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">5,147,234</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">3,775,418</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Increase (decrease) in income taxes resulting from:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Exempt income from Dominican Republic operations due to tax holiday</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(2,816,963</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(3,477,301</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,871,847</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Tax on repatriated earnings from Dominican Republic operations</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,556,940</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,090,036</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,592,238</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Impact of Canadian deemed dividend</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">12,703</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9,712</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">State and local income taxes</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">67,886</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">284,838</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">45,948</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Section 199 manufacturing deduction</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(194,498</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(135,690</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(51,396</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Meals and entertainment</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">98,082</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">91,475</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">76,465</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Nondeductible penalties</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">5,998</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,563</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,500</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Provision to return filing adjustments and other</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(37,261</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(118,974</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(135,270</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,084,343</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">4,895,884</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,442,768</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Deferred income taxes recorded in the consolidated balance sheets at December 31, 2015 and 2014 consist of the following:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center">December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Deferred tax assets:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 74%; text-align: left; padding-left: 9pt">Asset valuation allowances and accrued expenses</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">510,798</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">776,416</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Inventories</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">563,815</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">705,028</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">State and local income taxes</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">425,179</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">394,776</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 9pt">Pension and deferred compensation</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">72,004</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">80,969</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Net operating losses</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">650,620</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">575,702</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 0.25in">Total deferred tax assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,222,416</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,532,891</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Valuation allowances</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(569,459</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(569,881</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 0.25in">Total deferred tax assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,652,957</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,963,010</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Deferred tax liabilities:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">Fixed assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,655,838</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,736,042</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 9pt">Intangible assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(11,185,988</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(11,001,289</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">Other assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(400,651</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(482,549</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Tollgate tax on Lifestyle earnings</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(379,271</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(379,271</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total deferred tax liabilities</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(13,621,748</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(13,599,151</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax liability</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,968,791</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,636,141</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Deferred income taxes - current</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1,031,818</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1,291,907</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Deferred income taxes - non-current</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(13,000,609</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(12,928,048</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,968,791</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,636,141</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The valuation allowance is related to certain state and local income tax net operating loss carry forwards.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We have provided Puerto Rico tollgate taxes on approximately $3,684,000 of accumulated undistributed earnings of Lifestyle prior to the fiscal year ended June 30, 1994, that would be payable if such earnings were repatriated to the United States. In 2001, we received abatement for Puerto Rico tollgate taxes on all earnings subsequent to June 30, 1994, thus no other provision for tollgate tax has been made on earnings after that date. If we repatriate the earnings from Lifestyle, approximately $379,000 of tollgate tax would be due.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">As of December 31, 2015, we had approximately $18,323,000 of undistributed earnings from non-U.S. subsidiaries that are intended to be permanently reinvested in non-U.S. operations. Because these earnings are considered permanently reinvested, no U.S. tax provision has been accrued related to the repatriation of these earnings. If the Five Star undistributed earnings were distributed to the Company in the form of dividends, the related taxes on such distributions would be approximately $6,413,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We file income tax returns in the U.S. Federal jurisdiction and various state and foreign jurisdictions. We are no longer subject to U.S. Federal tax examinations for years before 2012. In 2014, we were subjected to an IRS examination for our consolidated U.S. Federal return for the year 2011. There were no adjustments to our return as a result of that examination. State jurisdictions that remain subject to examination range from 2011 to 2015. Foreign jurisdiction (Canada and Puerto Rico) tax returns that remain subject to examination range from 2010 to 2015.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Our policy is to accrue interest and penalties on any uncertain tax position as a component of income tax expense. As of December 31, 2015 no such expenses were recognized during the year. We do not believe there will be any material changes in our uncertain tax positions over the next 12 months.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Accounting for uncertainty in income taxes requires financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise&#x2019;s financial statements.&nbsp; Under this guidance, income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized upon the adoption of the standard.&nbsp; The Company did not have any unrecognized tax benefits and there was no effect on its financial condition or results of operations as a result of implementing this standard.&nbsp;</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774669856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>10. COMMITMENTS AND CONTINGENCIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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     <td style="width: 0%"></td>
     <td style="width: 23.75pt; text-align: left">10.</td>
     <td style="text-align: justify">COMMITMENTS AND CONTINGENCIES</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">We are, from time to time, a party to litigation which arises in the normal course of business. Although the ultimate resolution of pending proceedings cannot be determined, in the opinion of management, the resolution of such proceedings in the aggregate will not have a material adverse effect on our financial position, results of operations, or liquidity.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51674963&amp;loc=d3e12565-110249<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6605543344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>11. CAPITAL STOCK AND STOCK BASED COMPENSATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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     <td style="text-align: justify">CAPITAL STOCK AND STOCK BASED COMPENSATION</td>
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  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">On May 7, 2014, our shareholders approved the 2014 Omnibus Incentive Plan (the &#x201c;2014 Plan&#x201d;). The 2014 Plan includes 500,000 of our common shares that may be granted under various types of awards as described in the 2014 Plan. As of December 31, 2015, we were authorized to issue 394,291 shares under this plan.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b>Service Based Restricted Stock</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In the first quarter of 2015, we issued 28,000 restricted stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $13.42 per unit, which was the closing price of our stock on the last trading date prior to the grant date. In August 2015, we issued 2,000 restricted stock units to a member of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest on the same basis as the restricted stock units issued in the first quarter of 2015. We valued the units at a fair value of $18.15 per unit, which was the closing price of our stock on the last trading date prior to the grant date. In the first quarter of 2014, we issued 23,000 shares of restricted stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $14.57 per unit, which was the closing price of our stock on the last trading date prior to the grant date. For the years ended December 31, 2015 and 2014, we recorded expense of $183,150 and $83,778, respectively, related to these restricted stock units.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b>Performance Based Restricted Stock</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In the first quarter of 2015, we made available up to 32,000 performance based restricted stock units to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2016. In August 2015, we made available up to 2,000 performance based restricted stock units to a member of our management. The shares underlying the performance based restricted stock units will be issued under the same criteria as the shares issued in the first quarter of 2015. For the year ended 2015, we did not record any expense related to the performance units as it is uncertain if we will reach the performance goals. In the first quarter of 2014, we made available up to 23,000 shares of performance based restricted stock units to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2015. For the years ended 2015 and 2014, we did not record any expense related to these restricted stock units as the performance goals were not achieved.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b>Stock Options</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In the first quarter of 2015, we issued 28,000 stock options to certain members of our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at $13.42 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $4.70 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 46.20%, a risk free interest rate of 1.92%, a dividend yield of 2.99% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In August 2015, we issued 2,000 stock options to a member of our management. These stock options vest in increments of 20% per year over the next five years, except for the first tranche of options that will vest on January 1, 2016. The options are exercisable at $18.15 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $5.95 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 40.32%, a risk free interest rate of 1.98%, a dividend yield of 2.46% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In the first quarter of 2014, we issued 23,000 shares of stock options to certain members of our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at $14.57 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $5.94 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 52.04%, a risk free interest rate of 2.41%, a dividend yield of 2.75% and an employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. For the years ended 2015 and 2014, we recorded expense of $54,828 and $27,324, respectively, related to these stock options.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">For the above issuances under the plan, we expect to recognize expense in the years 2016 through 2019 as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%; text-align: justify">2016</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">215,585</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify">2017</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">206,246</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: justify">2018</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">132,463</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify; padding-bottom: 1pt">2019</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">23,174</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: justify">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; text-align: justify">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">577,468</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The following summarizes stock option transactions from January 1, 2014 through December 31, 2015:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise&nbsp;<br /> Price</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Remaining<br /> Actual&nbsp;Term</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Aggregate<br /> Intrinsic<br /> Value</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Options outstanding at January 1, 2014</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 48%; padding-left: 9pt">Issued</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">23,000</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">14.57</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Exercised</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Forfeited</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">$</td>
     <td style="padding-bottom: 1pt; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">Options outstanding at December 31, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">23,000</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.57</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">9.0</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Options exercisable at:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">January 1, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt; padding-bottom: 2.5pt">December 31, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 2.5pt double">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 2.5pt double">$</td>
     <td style="text-align: right; border-bottom: Black 2.5pt double">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 2.5pt double">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 2.5pt double">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Unvested options at December 31, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">23,000</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.57</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">9.0</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Options outstanding at January 1, 2015</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">23,000</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">14.57</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Issued</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">30,000</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">13.74</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Exercised</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(600</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">14.57</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Forfeited</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(800</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">$</td>
     <td style="padding-bottom: 1pt; text-align: right">14.57</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Options outstanding at December 31, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">51,600</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.08</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8.6</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Options exercisable at:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">January 1, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">December 31, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">4,000</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.57</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8.0</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Unvested options at December 31, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">47,600</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.04</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8.6</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt;">During the years ended December 31, 2015 and 2014, a total of 30,000 and 23,000 were issued with an intrinsic value of zero for all years. During the year ended December 31, 2015, a total of 600 options were exercised with an intrinsic value of zero. During the year ended December 31, 2015, a total of 800 options were forfeited with a fair value of $4,752. A total of 4,000 options vested during the year ended December 31, 2015 with a fair value of $23,760. At December 31, 2015 and 2014, a total of 47,600 and 23,000 options were unvested with a fair value of $248,004 and $136,620. There were no options issued or exercised during 2013.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">During the year ended December 31, 2015, we issued 10,793 shares of common stock to members of our Board of Directors. We recorded compensation expense of $175,000, which was the fair market value of the shares on the grant dates. The shares are fully vested.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The Company has authorized 250,000 shares of voting preferred stock without par value. No shares are issued or outstanding. Also, the Company has authorized 250,000 shares of non-voting preferred stock without par value. Of these, 125,000 shares have been designated Series A non-voting convertible preferred stock with a stated value of $.06 per share, of which no shares are issued or outstanding at December 31, 2015 and 2014, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The plans generally provided for grants with the exercise price equal to fair value on the date of grant, graduated vesting periods of up to 5 years, and lives not exceeding 10 years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">In June 2009, our Board of Directors adopted a Rights Agreement, which provides for one preferred share purchase right to be associated with each share of our outstanding common stock. Shareholders exercising these rights would become entitled to purchase shares of Series B Junior Participating Cumulative Preferred Stock. The rights are exercisable after the time when a person or group of persons without the approval of the Board of Directors acquire beneficial ownership of 20 percent or more of our common stock or announce the initiation of a tender or exchange offer which if successful would cause such person or group to beneficially own 20 percent or more of the common stock. Such exercise would ultimately entitle the holders of the rights to purchase at the exercise price, shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the exercise price. The person or groups effecting such 20 percent acquisition or undertaking such tender offer would not be entitled to exercise any rights. The Rights Agreement was renewed in June 2012 and expired in August 2015.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774707488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>12. SUPPLEMENTAL CASH FLOW INFORMATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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     <td style="width: 0"></td>
     <td style="width: 23.75pt">12.</td>
     <td>SUPPLEMENTAL CASH FLOW INFORMATION</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Supplemental cash flow information including other cash paid for interest and Federal, state and local income taxes was as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 61%; text-align: left; padding-bottom: 2.5pt">Interest paid</td>
     <td style="width: 1%; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="width: 10%; border-bottom: Black 2.5pt double; text-align: right">724,651</td>
     <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="width: 1%; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="width: 10%; border-bottom: Black 2.5pt double; text-align: right">856,578</td>
     <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="width: 1%; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="width: 10%; border-bottom: Black 2.5pt double; text-align: right">683,475</td>
     <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
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    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
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    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt">Federal, state and local income taxes paid - net of refunds</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">5,568,581</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">972,645</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,248,181</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt">Capitalized interest</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt">Fixed asset purchases in accounts payable</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">92,903</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">85,488</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">459,941</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769657936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>13. SEGMENT INFORMATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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     <td style="width: 23.75pt; text-align: left">13.</td>
     <td style="text-align: justify">SEGMENT INFORMATION</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><b><i>Operating Segments</i></b> - We operate our business through three business segments: wholesale, retail and military.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Wholesale.</i></b> In our wholesale segment, our products are offered in over ten thousand retail locations representing a wide range of distribution channels in the U.S. and Canada. These distribution channels vary by product line and target market and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Retail.</i></b> In our retail segment, we primarily sell our products directly to consumers through our consumer and business direct websites and our Rocky outlet store. We also operate four mobile trucks to service the New York Transit Authority&#x2019;s employees. Through our outlet store, we generally sell first quality or discontinued products in addition to a limited amount of factory damaged goods, which typically carry lower gross margins.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Military.</i></b> While we are focused on continuing to build our wholesale and retail business, we also actively bid, from time to time, on footwear contracts with the U.S. military. Our sales under such contracts are dependent on us winning the bids for these contracts.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">We have received an order to fulfill a contract to the U.S. Military to produce &#x201c;Hot Weather&#x201d; combat boots. We began shipping boots in the first quarter of 2013. The contract included a minimum purchase amount of $3.0 million and a maximum of $15.0 million for the first year and included an option for four additional years with the same terms. During 2014 and 2015, we shipped boots under this agreement.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">The following is a summary of segment results for the Wholesale, Retail, and Military segments. Certain amounts from prior year have been reclassified to conform to current year presentation.</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">NET SALES:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 61%; padding-left: 9pt">Wholesale</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">206,072,657</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">233,898,250</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">192,901,438</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">45,808,705</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">44,347,775</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">43,092,829</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Military</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">17,420,661</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">7,996,144</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">8,876,464</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Net Sales</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">269,302,023</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">286,242,169</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">244,870,731</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">GROSS MARGIN:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Wholesale</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">65,979,792</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">75,840,977</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">62,420,052</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">20,621,884</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,449,609</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,856,441</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Military</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">2,290,163</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,070,139</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,265,958</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Gross Margin</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">88,891,839</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">96,360,725</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">83,542,451</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Segment asset information is not prepared or used to assess segment performance.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt"><b><i>Product Group Information</i></b> - The following is supplemental information on net sales by product group:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <br /> Sales</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <br /> Sales</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <br /> Sales</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 22%; text-align: left">Work footwear</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">120,422,188</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">44.7</td>
     <td style="width: 1%; text-align: left">%</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">131,510,217</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">45.9</td>
     <td style="width: 1%; text-align: left">%</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">123,131,787</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">50.3</td>
     <td style="width: 1%; text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Western footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">43,435,734</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">16.1</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">45,475,880</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">15.9</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">36,998,504</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">15.1</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Duty and commercial military footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">33,341,424</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">12.4</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">38,174,738</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13.3</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">33,517,114</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13.7</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Lifestyle footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">23,370,822</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8.7</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">25,823,220</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9.0</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">10,599,879</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4.3</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Outdoor footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">20,688,005</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">7.7</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">24,606,151</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8.6</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">20,194,524</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8.2</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Military footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">17,420,661</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">6.5</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">7,996,144</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.8</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8,876,464</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3.6</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Apparel</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">5,662,277</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.1</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">7,471,005</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.6</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">6,676,075</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.7</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Other</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,155,137</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1.5</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,100,128</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1.4</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,454,968</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1.8</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Royalty income</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">805,775</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">0.3</td>
     <td style="text-align: left; padding-bottom: 1pt">%</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">1,084,686</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">0.4</td>
     <td style="text-align: left; padding-bottom: 1pt">%</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">421,416</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">0.2</td>
     <td style="text-align: left; padding-bottom: 1pt">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">269,302,023</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">100</td>
     <td style="padding-bottom: 2.5pt; text-align: left">%</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">286,242,169</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">100</td>
     <td style="padding-bottom: 2.5pt; text-align: left">%</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">244,870,731</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">100</td>
     <td style="padding-bottom: 2.5pt; text-align: left">%</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt">Net sales to foreign countries, primarily Canada, represented approximately 4.8% of net sales in 2015, 6.3% of net sales in 2014 and 2.9% of net sales in 2013.<i> </i></p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769518384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt">14.</td>
     <td style="text-align: justify">QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)</td>
    </tr>

  </table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt"></td>
     <td style="text-align: justify"><font style="font-weight: normal">The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2015 and 2014: </font></td>
    </tr>

  </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1st Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2nd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3rd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4th Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Year</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="font-weight: bold; text-align: center">2015</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 35%; text-align: left">Net sales</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">65,451,303</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">68,583,196</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">70,001,496</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">65,266,028</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">269,302,023</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Gross margin</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">21,971,310</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,648,633</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,117,477</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,154,419</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">88,891,839</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Net income</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,413,947</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,002,673</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,803,667</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,382,870</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">6,603,157</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Dividends paid</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">755,953</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">831,827</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">832,073</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">832,401</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,252,254</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Net income per common share:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Basic</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.19</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.26</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.24</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.18</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.87</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Diluted</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.19</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.26</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.24</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.18</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.87</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>

  </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1st Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2nd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3rd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4th Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Year</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="font-weight: bold; text-align: center">2014</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 35%; text-align: left">Net sales</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">65,783,284</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">68,822,520</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">72,729,678</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">78,906,687</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">286,242,169</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Gross margin</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">21,853,149</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,585,662</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">24,273,792</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">27,648,122</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">96,360,725</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Net income</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">723,788</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,511,461</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,138,507</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,471,542</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9,845,298</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Dividends paid</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">753,981</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">754,321</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">754,665</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">755,012</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,017,979</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Net income per common share:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Basic</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.10</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.20</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.42</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.59</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1.30</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Diluted</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.10</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.20</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.42</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.59</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1.30</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>

  </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">

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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>15. ACQUISITION OF CREATIVE RECREATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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    <tr style="vertical-align: top">
     <td style="width: 0"></td>
     <td style="width: 23.75pt">15.</td>
     <td style="text-align: justify">ACQUISITION OF CREATIVE RECREATION</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">On December 13, 2013, we completed the acquisition of certain assets of Kommonwealth, Inc. including the Creative Recreation trademark, a lifestyle footwear brand best known for its popular crossover between athletic sneakers and dress shoes. The total purchase price was $8,722,843 including cash and assumption of certain liabilities. The acquisition was funded by our existing cash balances and funds available under our existing revolving credit facility. We did not have any sales in 2013 related to this acquisition and had net pre-tax operational expenses of $172,418 that was included as a component of income from operations. In addition, we incurred $1,172,047 of acquisition related expenses. The acquisition related expenses were included as a component of income from operations for the year ended December 31, 2013 and consisted of the following:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%; text-align: left">Investment banker fees</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">503,072</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Professional fees</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">187,585</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Valuation services</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">37,561</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Stock compensation expense</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">290,800</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Freight and warehousing expenses</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">86,726</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Travel Expenses</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">66,303</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Total acquisition related expenses</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">1,172,047</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">The acquisition was accounted for under the purchase method of accounting in accordance with ASC 805, Business Combinations, with the excess of the fair market value of the assets acquired and liabilities assumed in excess of the purchase price recorded as a gain on purchase. Based on the purchase price allocation, the purchase price resulted in a gain on purchase. The purchase price allocation is based upon certain estimates made by management with the assistance of an independent, third-party valuation company.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">During 2015 and 2014, we had $13.6 million and $16.1 million, respectively, in net sales for the Creative Recreation business.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"><i>Purchase Price Allocation</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">We negotiated the respective purchase prices of the assets based on the expected cash flows to be derived from the assets after integration into our existing sourcing and distribution networks. The acquisition purchase price was allocated based on the fair values of the assets acquired and liabilities assumed, which are based on management estimates and the assistance of third-party appraisals. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed.</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%">Purchase Price</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">2,229,000</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-decoration: underline">Preliminary Allocation of Purchase Price</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Accounts receivable</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,081,764</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Inventories</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,162,360</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Prepaid expenses and deposits</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(82,339</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Property and equipment</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(698,355</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Trademarks</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(5,100,000</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Customer relationships</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(1,200,000</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">Total assets acquired</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(9,324,818</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Accounts payable</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">6,493,843</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Net gain on purchase</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(601,975</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
    </tr>

  </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Intangible assets related to the acquisitions represent the fair value of trademarks and customer relationships. See Note 3 intangible assets.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769518384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings Per Share, Policy [Policy Text Block]</a></td>
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    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 61%">Basic - weighted average shares outstanding</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">7,563,205</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">7,544,936</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">7,517,364</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Dilutive restricted share units</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9,987</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,845</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Dilutive stock options</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">980</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Diluted - weighted average shares outstanding</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">7,574,172</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">7,547,781</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">7,517,364</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Anti-Dilutive securities - stock options</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">84,210</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">43,029</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8,630</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
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<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6608290048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>2. INVENTORIES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventory Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRelatedText', window );">Inventory Related Text</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center">December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
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    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 74%; text-align: left">Raw materials</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">12,494,980</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">11,702,762</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Work-in-process</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,155,837</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">577,127</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Finished goods</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">63,340,242</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">72,957,153</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">76,991,059</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">85,237,042</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional information disclosed related to inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770191776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>3. IDENTIFIED INTANGIBLE ASSETS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
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     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
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     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
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    <tr style="vertical-align: bottom">
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     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
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     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Trademarks</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
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     <td style="width: 61%; padding-left: 9pt">Wholesale</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">32,343,578</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">-</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">32,343,578</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
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     <td style="padding-left: 9pt">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,900,000</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,900,000</td>
     <td style="text-align: left">&nbsp;</td>
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    <tr style="vertical-align: bottom; background-color: White">
     <td>Patents</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,595,477</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,324,515</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">270,962</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Customer Relationships</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">2,200,000</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,166,667</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,033,333</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Total Intangibles</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">40,039,055</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,491,182</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">36,547,873</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><table style="font: 10pt/normal Times New Roman, Times, Serif; width: 90%; margin-left: 30pt; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0">

    <tr style="vertical-align: bottom;">
     <td nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold;" nowrap="nowrap">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom;">
     <td style="font-weight: bold; border-bottom: Black 1pt solid;" nowrap="nowrap">December 31, 2014</td>
     <td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap">&nbsp;</td>
     <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid;" colspan="2" nowrap="nowrap">&nbsp;</td>
     <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: #cceeff;">
     <td>Trademarks</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; ">
     <td style="width: 61%; padding-left: 9pt;">Wholesale</td>
     <td style="width: 1%;">&nbsp;</td>
     <td style="width: 1%; text-align: left;">$</td>
     <td style="width: 10%; text-align: right;">32,343,578</td>
     <td style="width: 1%; text-align: left;">&nbsp;</td>
     <td style="width: 1%;">&nbsp;</td>
     <td style="width: 1%; text-align: left;">$</td>
     <td style="width: 10%; text-align: right;">-</td>
     <td style="width: 1%; text-align: left;">&nbsp;</td>
     <td style="width: 1%;">&nbsp;</td>
     <td style="width: 1%; text-align: left;">$</td>
     <td style="width: 10%; text-align: right;">32,343,578</td>
     <td style="width: 1%; text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: #cceeff;">
     <td style="padding-left: 9pt;">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,900,000</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">-</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,900,000</td>
     <td style="text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; ">
     <td>Patents</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,594,301</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">2,269,569</td>
     <td style="text-align: left;">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left;">&nbsp;</td>
     <td style="text-align: right;">324,732</td>
     <td style="text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: #cceeff;">
     <td style="text-align: left; padding-bottom: 1pt;">Customer Relationships</td>
     <td style="padding-bottom: 1pt;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right;">2,200,000</td>
     <td style="padding-bottom: 1pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 1pt;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right;">1,086,666</td>
     <td style="padding-bottom: 1pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 1pt;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left;">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right;">1,113,334</td>
     <td style="padding-bottom: 1pt; text-align: left;">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; ">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;">Total Intangibles</td>
     <td style="padding-bottom: 2.5pt;">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left;">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right;">40,037,879</td>
     <td style="padding-bottom: 2.5pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 2.5pt;">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left;">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right;">3,356,235</td>
     <td style="padding-bottom: 2.5pt; text-align: left;">&nbsp;</td>
     <td style="padding-bottom: 2.5pt;">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left;">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right;">36,681,644</td>
     <td style="padding-bottom: 2.5pt; text-align: left;">&nbsp;</td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774773200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>4. OTHER ASSETS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockSupplementAbstract', window );"><strong>Disclosure Text Block Supplement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center; padding-bottom: 1pt">December 31,</td>
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    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
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     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
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    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
    </tr>
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     <td style="width: 74%; text-align: left">Deferred financing costs, net</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">120,403</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">151,144</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
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     <td style="padding-bottom: 1pt">&nbsp;</td>
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     <td style="border-bottom: Black 1pt solid; text-align: right">138,409</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">148,346</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">258,812</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">299,490</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6608462128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>5. FIXED ASSETS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr class="ro">
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     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td colspan="2">&nbsp;</td>
     <td>&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 74%">Land</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">671,035</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">671,035</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Buildings</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,247,770</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,027,998</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Machinery and equipment</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">40,611,815</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">39,206,408</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Furniture and fixtures</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,722,751</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,491,295</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Lasts, dies and patterns</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13,811,676</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">12,131,234</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Construction work-in-progress</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">3,161,533</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">281,198</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Total</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">80,226,580</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">73,809,168</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Less - accumulated depreciation</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(52,390,053</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(47,544,527</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Net Fixed Assets</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">27,836,527</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">26,264,641</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph b<br> -Article 5<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774707488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>7. OPERATING LEASES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesOperatingAbstract', window );"><strong>Leases, Operating [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock', window );">Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]</a></td>
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    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%; text-align: justify">2016</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">1,205,000</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify">2017</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,129,000</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: justify">2018</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">620,000</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify">2019</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">110,143</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: justify; padding-bottom: 1pt">2020</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">-</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt; text-align: justify">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,064,143</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772131184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>9. INCOME TAXES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
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     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Federal:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 61%; padding-left: 9pt">Current</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">2,656,870</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">3,656,356</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">2,540,701</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Deferred</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">287,755</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">848,666</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">778,213</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 0.25in">Total Federal</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,944,625</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,505,022</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,318,914</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">State &amp; local:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Current</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">81,433</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">203,144</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">109,254</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Deferred</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">86,863</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">140,552</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(29,619</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 0.25in">Total State &amp; local</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">168,296</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">343,696</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">79,635</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Foreign</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Current</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13,391</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">46,911</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">42,450</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Deferred</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(41,969</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">255</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,769</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total Foreign</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(28,578</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">47,166</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">44,219</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,084,343</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">4,895,884</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,442,768</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td style="font-weight: bold">&nbsp;</td>
     <td colspan="10" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td>&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 61%; text-align: left">Expected expense at statutory rate</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">3,404,159</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">5,147,234</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">3,775,418</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Increase (decrease) in income taxes resulting from:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Exempt income from Dominican Republic operations due to tax holiday</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(2,816,963</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(3,477,301</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,871,847</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Tax on repatriated earnings from Dominican Republic operations</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,556,940</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,090,036</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,592,238</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Impact of Canadian deemed dividend</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">12,703</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9,712</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">State and local income taxes</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">67,886</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">284,838</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">45,948</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Section 199 manufacturing deduction</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(194,498</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(135,690</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(51,396</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Meals and entertainment</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">98,082</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">91,475</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">76,465</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Nondeductible penalties</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">5,998</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,563</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,500</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Provision to return filing adjustments and other</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(37,261</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(118,974</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(135,270</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,084,343</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">4,895,884</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,442,768</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="6" nowrap="nowrap" style="font-weight: bold; text-align: center">December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Deferred tax assets:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 74%; text-align: left; padding-left: 9pt">Asset valuation allowances and accrued expenses</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">510,798</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">776,416</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Inventories</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">563,815</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">705,028</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">State and local income taxes</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">425,179</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">394,776</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 9pt">Pension and deferred compensation</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">72,004</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">80,969</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Net operating losses</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">650,620</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">575,702</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 0.25in">Total deferred tax assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,222,416</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,532,891</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Valuation allowances</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(569,459</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(569,881</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 0.25in">Total deferred tax assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,652,957</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,963,010</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Deferred tax liabilities:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">Fixed assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,655,838</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,736,042</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-left: 9pt">Intangible assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(11,185,988</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(11,001,289</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">Other assets</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(400,651</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(482,549</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Tollgate tax on Lifestyle earnings</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(379,271</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(379,271</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total deferred tax liabilities</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(13,621,748</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(13,599,151</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax liability</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,968,791</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,636,141</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Deferred income taxes - current</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1,031,818</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1,291,907</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Deferred income taxes - non-current</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(13,000,609</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(12,928,048</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,968,791</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(11,636,141</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
    </tr>

  </table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6771828848">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock', window );">Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%; text-align: justify">2016</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">215,585</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify">2017</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">206,246</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: justify">2018</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">132,463</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: justify; padding-bottom: 1pt">2019</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">23,174</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: justify">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; text-align: justify">Total</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">577,468</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock', window );">Schedule of Share-based Compensation, Activity [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise&nbsp;<br /> Price</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Remaining<br /> Actual&nbsp;Term</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Aggregate<br /> Intrinsic<br /> Value</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Options outstanding at January 1, 2014</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 48%; padding-left: 9pt">Issued</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">23,000</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">14.57</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Exercised</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">-</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Forfeited</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">$</td>
     <td style="padding-bottom: 1pt; text-align: right">-</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">Options outstanding at December 31, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">23,000</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.57</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">9.0</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Options exercisable at:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">January 1, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt; padding-bottom: 2.5pt">December 31, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 2.5pt double">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 2.5pt double">$</td>
     <td style="text-align: right; border-bottom: Black 2.5pt double">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 2.5pt double">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 2.5pt double">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="text-align: left; padding-bottom: 2.5pt">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Unvested options at December 31, 2014</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">23,000</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.57</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">9.0</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Options outstanding at January 1, 2015</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">23,000</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">14.57</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Issued</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">30,000</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">13.74</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Exercised</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(600</td>
     <td style="text-align: left">)</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">14.57</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Forfeited</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">(800</td>
     <td style="padding-bottom: 1pt; text-align: left">)</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">$</td>
     <td style="padding-bottom: 1pt; text-align: right">14.57</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Options outstanding at December 31, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">51,600</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.08</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8.6</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Options exercisable at:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">January 1, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt; padding-left: 9pt">December 31, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">4,000</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.57</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8.0</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 2.5pt">Unvested options at December 31, 2015</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">47,600</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">14.04</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">8.6</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<html>
<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770172064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>12. SUPPLEMENTAL CASH FLOW INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>Supplemental Cash Flow Elements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationRelatedText', window );">Supplemental Cash Flow Information Related Text</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
     <td colspan="10" nowrap="nowrap" style="font-weight: bold; text-align: center">Years Ended December 31,</td>
     <td nowrap="nowrap" style="font-weight: bold">&nbsp;</td>
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    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 61%; text-align: left; padding-bottom: 2.5pt">Interest paid</td>
     <td style="width: 1%; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="width: 10%; border-bottom: Black 2.5pt double; text-align: right">724,651</td>
     <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="width: 1%; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="width: 10%; border-bottom: Black 2.5pt double; text-align: right">856,578</td>
     <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="width: 1%; padding-bottom: 2.5pt">&nbsp;</td>
     <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="width: 10%; border-bottom: Black 2.5pt double; text-align: right">683,475</td>
     <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
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    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt">Federal, state and local income taxes paid - net of refunds</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">5,568,581</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">972,645</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">3,248,181</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt">Capitalized interest</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">-</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt">Fixed asset purchases in accounts payable</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">92,903</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">85,488</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">459,941</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional textual information about cash receipts or disbursements in the period required to be supplementally disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6771997776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>13. SEGMENT INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock', window );">Schedule of Segment Reporting Information, by Segment [Table Text Block]</a></td>
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     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">NET SALES:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 61%; padding-left: 9pt">Wholesale</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">206,072,657</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">233,898,250</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">192,901,438</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">45,808,705</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">44,347,775</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">43,092,829</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Military</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">17,420,661</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">7,996,144</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">8,876,464</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Net Sales</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">269,302,023</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">286,242,169</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">244,870,731</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">GROSS MARGIN:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Wholesale</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">65,979,792</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">75,840,977</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">62,420,052</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Retail</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">20,621,884</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,449,609</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">19,856,441</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-bottom: 1pt; padding-left: 9pt">Military</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">2,290,163</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,070,139</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">1,265,958</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Gross Margin</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">88,891,839</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">96,360,725</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">83,542,451</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfProductInformationTableTextBlock', window );">Schedule of Product Information [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <br /> Sales</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <br /> Sales</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of <br /> Sales</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 22%; text-align: left">Work footwear</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">120,422,188</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">44.7</td>
     <td style="width: 1%; text-align: left">%</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">131,510,217</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">45.9</td>
     <td style="width: 1%; text-align: left">%</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">123,131,787</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 10%; text-align: right">50.3</td>
     <td style="width: 1%; text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Western footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">43,435,734</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">16.1</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">45,475,880</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">15.9</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">36,998,504</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">15.1</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Duty and commercial military footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">33,341,424</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">12.4</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">38,174,738</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13.3</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">33,517,114</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">13.7</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Lifestyle footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">23,370,822</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8.7</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">25,823,220</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9.0</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">10,599,879</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4.3</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Outdoor footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">20,688,005</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">7.7</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">24,606,151</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8.6</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">20,194,524</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8.2</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Military footwear</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">17,420,661</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">6.5</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">7,996,144</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.8</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">8,876,464</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3.6</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Apparel</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">5,662,277</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.1</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">7,471,005</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.6</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">6,676,075</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2.7</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Other</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,155,137</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1.5</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,100,128</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1.4</td>
     <td style="text-align: left">%</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,454,968</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1.8</td>
     <td style="text-align: left">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left; padding-bottom: 1pt">Royalty income</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">805,775</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">0.3</td>
     <td style="text-align: left; padding-bottom: 1pt">%</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">1,084,686</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">0.4</td>
     <td style="text-align: left; padding-bottom: 1pt">%</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">421,416</td>
     <td style="text-align: left; padding-bottom: 1pt">&nbsp;</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">0.2</td>
     <td style="text-align: left; padding-bottom: 1pt">%</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">269,302,023</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">100</td>
     <td style="padding-bottom: 2.5pt; text-align: left">%</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">286,242,169</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">100</td>
     <td style="padding-bottom: 2.5pt; text-align: left">%</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">244,870,731</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">100</td>
     <td style="padding-bottom: 2.5pt; text-align: left">%</td>
    </tr>

  </table><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of product information that are included in the discussion of the nature of an entity's operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770318368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2014</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1st Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2nd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3rd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4th Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Year</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="font-weight: bold; text-align: center">2015</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 35%; text-align: left">Net sales</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">65,451,303</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">68,583,196</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">70,001,496</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">65,266,028</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">269,302,023</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Gross margin</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">21,971,310</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,648,633</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,117,477</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,154,419</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">88,891,839</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Net income</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,413,947</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">2,002,673</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,803,667</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,382,870</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">6,603,157</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Dividends paid</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">755,953</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">831,827</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">832,073</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">832,401</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,252,254</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Net income per common share:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Basic</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.19</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.26</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.24</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.18</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.87</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Diluted</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.19</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.26</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.24</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.18</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.87</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>

  </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 23.75pt">

    <tr style="vertical-align: bottom">
     <td nowrap="nowrap">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1st Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2nd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3rd Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4th Quarter</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
     <td nowrap="nowrap" style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
     <td colspan="2" nowrap="nowrap" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Year</td>
     <td nowrap="nowrap" style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="font-weight: bold; text-align: center">2014</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="width: 35%; text-align: left">Net sales</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">65,783,284</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">68,822,520</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">72,729,678</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">78,906,687</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 10%; text-align: right">286,242,169</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Gross margin</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">21,853,149</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">22,585,662</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">24,273,792</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">27,648,122</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">96,360,725</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Net income</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">723,788</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">1,511,461</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,138,507</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">4,471,542</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">9,845,298</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Dividends paid</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">753,981</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">754,321</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">754,665</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">755,012</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">3,017,979</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Net income per common share:</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="padding-left: 9pt">Basic</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.10</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.20</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.42</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.59</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1.30</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="padding-left: 9pt">Diluted</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.10</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.20</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.42</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">0.59</td>
     <td style="text-align: left">&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">$</td>
     <td style="text-align: right">1.30</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)-(j)<br> -URI http://asc.fasb.org/extlink&amp;oid=51825399&amp;loc=d3e1280-108306<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770265680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>15. ACQUISITION OF CREATIVE RECREATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2013</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationsAbstract', window );"><strong>Business Combinations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock', window );">Schedule of Business Acquisitions, by Acquisition [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%; text-align: left">Investment banker fees</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">503,072</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Professional fees</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">187,585</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Valuation services</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">37,561</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Stock compensation expense</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">290,800</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Freight and warehousing expenses</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">86,726</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Travel Expenses</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">66,303</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Total acquisition related expenses</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">1,172,047</td>
     <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfPurchasePriceAllocationTableTextBlock', window );">Schedule of Purchase Price Allocation [Table Text Block] (Deprecated 2013-01-31)</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">

    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="width: 82%">Purchase Price</td>
     <td style="width: 1%">&nbsp;</td>
     <td style="width: 1%; text-align: left">$</td>
     <td style="width: 15%; text-align: right">2,229,000</td>
     <td style="width: 1%; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-decoration: underline">Preliminary Allocation of Purchase Price</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Accounts receivable</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,081,764</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td>Inventories</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(1,162,360</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td style="text-align: left">Prepaid expenses and deposits</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(82,339</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left">Property and equipment</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(698,355</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>Trademarks</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(5,100,000</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Customer relationships</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="text-align: left; border-bottom: Black 1pt solid">&nbsp;</td>
     <td style="text-align: right; border-bottom: Black 1pt solid">(1,200,000</td>
     <td style="text-align: left; padding-bottom: 1pt">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-left: 9pt">Total assets acquired</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">(9,324,818</td>
     <td style="text-align: left">)</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 1pt">Accounts payable</td>
     <td style="padding-bottom: 1pt">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td>
     <td style="border-bottom: Black 1pt solid; text-align: right">6,493,843</td>
     <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
     <td style="text-align: right">&nbsp;</td>
     <td style="text-align: left">&nbsp;</td>
    </tr>
    <tr style="vertical-align: bottom; background-color: White">
     <td style="text-align: left; padding-bottom: 2.5pt">Net gain on purchase</td>
     <td style="padding-bottom: 2.5pt">&nbsp;</td>
     <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
     <td style="border-bottom: Black 2.5pt double; text-align: right">(601,975</td>
     <td style="padding-bottom: 2.5pt; text-align: left">)</td>
    </tr>

  </table><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table  does not include leveraged buyouts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1486-128463<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6783635280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivable', window );">Allowance for Doubtful Accounts Receivable</a></td>
<td class="nump">$ 820,000<span></span>
</td>
<td class="nump">$ 1,002,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdvertisingExpense', window );">Advertising Expense</a></td>
<td class="nump">9,869,000<span></span>
</td>
<td class="nump">8,623,000<span></span>
</td>
<td class="nump">$ 8,038,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShippingHandlingAndTransportationCosts', window );">Shipping, Handling and Transportation Costs</a></td>
<td class="nump">$ 8,500,000<span></span>
</td>
<td class="nump">$ 9,254,000<span></span>
</td>
<td class="nump">$ 8,294,000<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 35<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420018&amp;loc=d3e36677-107848<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51667946&amp;loc=d3e61069-111654<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Handling Costs<br> -URI http://asc.fasb.org/extlink&amp;oid=51575068<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51671805&amp;loc=d3e60635-111653<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6408413&amp;loc=d3e221937-122793<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Shipping Costs<br> -URI http://asc.fasb.org/extlink&amp;oid=51575562<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784612064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Per Share Information - Basic net income per common share is computed based on the weighted average - shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_PerShareInformationBasicNetIncomePerCommonShareIsComputedBasedOnTheWeightedAverageAbstract', window );"><strong>Per Share Information - Basic net income per common share is computed based on the weighted average [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<td class="nump">7,563,205<span></span>
</td>
<td class="nump">7,544,936<span></span>
</td>
<td class="nump">7,517,364<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Dilutive restricted share units</a></td>
<td class="nump">9,987<span></span>
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<td class="nump">2,845<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions', window );">Dilutive stock options</a></td>
<td class="nump">980<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted - weighted average shares outstanding</a></td>
<td class="nump">7,574,172<span></span>
</td>
<td class="nump">7,547,781<span></span>
</td>
<td class="nump">7,517,364<span></span>
</td>
</tr>
<tr class="ro">
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<td class="nump">84,210<span></span>
</td>
<td class="nump">43,029<span></span>
</td>
<td class="nump">8,630<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of outstanding written put options using the reverse treasury stock method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 35<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e2366-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToWrittenPutOptions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784167792">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>2.  INVENTORIES (Details) - Inventory Detail - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_InventoryDetailAbstract', window );"><strong>Inventory Detail [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterialsAndSupplies', window );">Raw materials</a></td>
<td class="nump">$ 12,494,980<span></span>
</td>
<td class="nump">$ 11,702,762<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWorkInProcess', window );">Work-in-process</a></td>
<td class="nump">1,155,837<span></span>
</td>
<td class="nump">577,127<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryFinishedGoods', window );">Finished goods</a></td>
<td class="nump">63,340,242<span></span>
</td>
<td class="nump">72,957,153<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Total</a></td>
<td class="nump">$ 76,991,059<span></span>
</td>
<td class="nump">$ 85,237,042<span></span>
</td>
</tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryFinishedGoods</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross amount of unprocessed materials to be used in manufacturing or production process and supplies that will be consumed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(4),(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryRawMaterialsAndSupplies</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before valuation and LIFO reserves of merchandise or goods in the production process expected to be completed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<DOCUMENT>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784090464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>3. IDENTIFIED INTANGIBLE ASSETS (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Disclosure Text Block [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of Intangible Assets</a></td>
<td class="nump">$ 135,000<span></span>
</td>
<td class="nump">$ 135,000<span></span>
</td>
<td class="nump">$ 60,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths', window );">Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months</a></td>
<td class="nump">$ 121,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772915248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>3.  IDENTIFIED INTANGIBLE ASSETS (Details) - Intangible Assets - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=rcky_Wholesale_Member', window );">Wholesale (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTrademarks', window );">Indefinite Lived Intangible Assets</a></td>
<td class="nump">$ 32,343,578<span></span>
</td>
<td class="nump">$ 32,343,578<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=rcky_Retail_Member', window );">Retail (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTrademarks', window );">Indefinite Lived Intangible Assets</a></td>
<td class="nump">2,900,000<span></span>
</td>
<td class="nump">2,900,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Trade_Mark_Axis=rcky_Carrying_Amount_Member', window );">Carrying Amount (Member) | Wholesale (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTrademarks', window );">Indefinite Lived Intangible Assets</a></td>
<td class="nump">32,343,578<span></span>
</td>
<td class="nump">32,343,578<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Trade_Mark_Axis=rcky_Carrying_Amount_Member', window );">Carrying Amount (Member) | Retail (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTrademarks', window );">Indefinite Lived Intangible Assets</a></td>
<td class="nump">2,900,000<span></span>
</td>
<td class="nump">2,900,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember', window );">Patents [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedPatentsGross', window );">Finite Lived Intangible Assets</a></td>
<td class="nump">2,595,477<span></span>
</td>
<td class="nump">2,594,301<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember', window );">Patents [Member] | Accumulated Amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedPatentsGross', window );">Finite Lived Intangible Assets</a></td>
<td class="nump">2,324,515<span></span>
</td>
<td class="nump">2,269,569<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember', window );">Patents [Member] | Carrying Amount (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedPatentsGross', window );">Finite Lived Intangible Assets</a></td>
<td class="nump">270,962<span></span>
</td>
<td class="nump">324,732<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_CustomerRelationshipsMember', window );">Customer Relationships [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedPatentsGross', window );">Finite Lived Intangible Assets</a></td>
<td class="nump">2,200,000<span></span>
</td>
<td class="nump">2,200,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Total Identified Intangibles</a></td>
<td class="nump">40,039,055<span></span>
</td>
<td class="nump">40,037,879<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_CustomerRelationshipsMember', window );">Customer Relationships [Member] | Accumulated Amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedPatentsGross', window );">Finite Lived Intangible Assets</a></td>
<td class="nump">1,166,667<span></span>
</td>
<td class="nump">1,086,666<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Total Identified Intangibles</a></td>
<td class="nump">3,491,182<span></span>
</td>
<td class="nump">3,356,235<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_CustomerRelationshipsMember', window );">Customer Relationships [Member] | Carrying Amount (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TrademarksAbstract', window );"><strong>Trademarks</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedPatentsGross', window );">Finite Lived Intangible Assets</a></td>
<td class="nump">1,033,333<span></span>
</td>
<td class="nump">1,113,334<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Total Identified Intangibles</a></td>
<td class="nump">$ 36,547,873<span></span>
</td>
<td class="nump">$ 36,681,644<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_TrademarksAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross carrying amount before accumulated amortization as of the balance sheet date of the costs pertaining to the exclusive legal rights granted to the owner of the patent to exploit an invention or a process for a period of time specified by law. Such costs may have been expended to directly apply and receive patent rights, or to acquire such rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedPatentsGross</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trademark to gain or protect exclusive use of a business name, symbol or other device or style for a projected indefinite period of benefit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedTrademarks</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=rcky_Wholesale_Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Trade_Mark_Axis=rcky_Accumulated_Amortization_Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769256416">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>4.  OTHER ASSETS (Details) - Other Assets Detail - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_OtherAssetsDetailAbstract', window );"><strong>Other Assets Detail [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNoncurrentNet', window );">Deferred financing costs, net</a></td>
<td class="nump">$ 120,403<span></span>
</td>
<td class="nump">$ 151,144<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other</a></td>
<td class="nump">138,409<span></span>
</td>
<td class="nump">148,346<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Total</a></td>
<td class="nump">$ 258,812<span></span>
</td>
<td class="nump">$ 299,490<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of long-term deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 10<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784320176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>5. FIXED ASSETS (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">$ 7,053,000<span></span>
</td>
<td class="nump">$ 6,807,000<span></span>
</td>
<td class="nump">$ 6,204,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769332320">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>5.  FIXED ASSETS (Details) - Fixed Asset Detail - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_FixedAssetDetailAbstract', window );"><strong>Fixed Asset Detail [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Land', window );">Land</a></td>
<td class="nump">$ 671,035<span></span>
</td>
<td class="nump">$ 671,035<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BuildingsAndImprovementsGross', window );">Buildings</a></td>
<td class="nump">19,247,770<span></span>
</td>
<td class="nump">19,027,998<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MachineryAndEquipmentGross', window );">Machinery and equipment</a></td>
<td class="nump">40,611,815<span></span>
</td>
<td class="nump">39,206,408<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FurnitureAndFixturesGross', window );">Furniture and fixtures</a></td>
<td class="nump">2,722,751<span></span>
</td>
<td class="nump">2,491,295<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentOther', window );">Lasts, dies and patterns</a></td>
<td class="nump">13,811,676<span></span>
</td>
<td class="nump">12,131,234<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Construction work-in-progress</a></td>
<td class="nump">3,161,533<span></span>
</td>
<td class="nump">281,198<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Total</a></td>
<td class="nump">80,226,580<span></span>
</td>
<td class="nump">73,809,168<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less - accumulated depreciation</a></td>
<td class="num">(52,390,053)<span></span>
</td>
<td class="num">(47,544,527)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Net Fixed Assets</a></td>
<td class="nump">$ 27,836,527<span></span>
</td>
<td class="nump">$ 26,264,641<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_FixedAssetDetailAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BuildingsAndImprovementsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6812-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BuildingsAndImprovementsGross</td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FurnitureAndFixturesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FurnitureAndFixturesGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Land">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depletion of real estate held for productive use, excluding land held for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6812-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Land</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MachineryAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6812-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of other physical assets used in the normal conduct of business to produce goods and services and not intended for resale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772873056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>6. LONG-TERM DEBT (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Line of Credit Facility, Maximum Borrowing Capacity</a></td>
<td class="nump">$ 75,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 70,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod', window );">Line of Credit Facility, Interest Rate During Period</a></td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd', window );">Line of Credit Facility, Interest Rate at Period End</a></td>
<td class="nump">1.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Libor_Loan', window );">Libor_Loan</a></td>
<td class="nump">$ 17,000,000<span></span>
</td>
<td class="nump">$ 35,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Line of Credit Facility, Amount Outstanding</a></td>
<td class="nump">23,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity', window );">Line of Credit Facility, Current Borrowing Capacity</a></td>
<td class="nump">66,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCommonStock', window );">Dividends, Common Stock</a></td>
<td class="nump">$ 3,252,254<span></span>
</td>
<td class="nump">$ 3,017,979<span></span>
</td>
<td class="nump">$ 2,254,935<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_Libor_Loan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of Libor Loans at Period End</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Libor_Loan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 405<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAmountOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount borrowed under the credit facility as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAmountOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effective interest rate at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effective interest rate during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInterestRateDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769247488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>7. OPERATING LEASES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesOperatingAbstract', window );"><strong>Leases, Operating [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating Leases, Rent Expense, Net</a></td>
<td class="nump">$ 1,335,000<span></span>
</td>
<td class="nump">$ 1,324,000<span></span>
</td>
<td class="nump">$ 840,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6783701584">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>7.  OPERATING LEASES (Details) - Future minimum lease payments - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_FutureMinimumLeasePaymentsAbstract', window );"><strong>Future minimum lease payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,205,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,129,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 620,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">2019</a></td>
<td class="nump">$ 110,143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="nump">$ 3,064,143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br></p></div>
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<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784319072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>8. RETIREMENT PLANS (Details) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Compensation and Retirement Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanCostRecognized', window );">Defined Contribution Plan, Cost Recognized</a></td>
<td class="nump">$ 1.0<span></span>
</td>
<td class="nump">$ 1.0<span></span>
</td>
<td class="nump">$ 0.9<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CompensationAndRetirementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanCostRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the cost recognized during the period for defined contribution plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49170846&amp;loc=d3e28014-114942<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanCostRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6773036384">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>9. INCOME TAXES (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UndistributedEarningsOfDomesticSubsidiaries', window );">Undistributed Earnings of Domestic Subsidiaries</a></td>
<td class="nump">$ 3,684,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrentAndNoncurrent', window );">Taxes Payable</a></td>
<td class="nump">379,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UndistributedEarningsOfForeignSubsidiaries', window );">Undistributed Earnings of Foreign Subsidiaries</a></td>
<td class="nump">18,323,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent', window );">Liability for Uncertain Tax Positions, Noncurrent</a></td>
<td class="nump">$ 6,413,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilityForUncertainTaxPositionsNoncurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 15<br> -Subparagraph 1, 5<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrentAndNoncurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UndistributedEarningsOfDomesticSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of undistributed earnings of domestic subsidiaries or domestic joint ventures intended to be permanent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6424122&amp;loc=d3e41874-109331<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6424122&amp;loc=d3e41874-109331<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28200-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UndistributedEarningsOfDomesticSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UndistributedEarningsOfForeignSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of undistributed earnings of foreign subsidiaries intended to be permanently reinvested outside the country of domicile.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6487024&amp;loc=d3e29054-158556<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479915&amp;loc=d3e66715-112838<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 995<br> -SubTopic 740<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6503627&amp;loc=d3e59836-110443<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28200-109314<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6424122&amp;loc=d3e41874-109331<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UndistributedEarningsOfForeignSubsidiaries</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784523600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>9.  INCOME TAXES (Details) - Income Tax Expense - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_FederalAbstract', window );"><strong>Federal:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalTaxExpenseBenefit', window );">Current</a></td>
<td class="nump">$ 2,656,870<span></span>
</td>
<td class="nump">$ 3,656,356<span></span>
</td>
<td class="nump">$ 2,540,701<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="nump">287,755<span></span>
</td>
<td class="nump">848,666<span></span>
</td>
<td class="nump">778,213<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations', window );">Total Federal</a></td>
<td class="nump">2,944,625<span></span>
</td>
<td class="nump">4,505,022<span></span>
</td>
<td class="nump">3,318,914<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_StateLocalAbstract', window );"><strong>State &amp; local:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit', window );">Current</a></td>
<td class="nump">81,433<span></span>
</td>
<td class="nump">203,144<span></span>
</td>
<td class="nump">109,254<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="nump">86,863<span></span>
</td>
<td class="nump">140,552<span></span>
</td>
<td class="num">(29,619)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperations', window );">Total State &amp; local</a></td>
<td class="nump">168,296<span></span>
</td>
<td class="nump">343,696<span></span>
</td>
<td class="nump">79,635<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_ForeignAbstract', window );"><strong>Foreign</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentForeignTaxExpenseBenefit', window );">Current</a></td>
<td class="nump">13,391<span></span>
</td>
<td class="nump">46,911<span></span>
</td>
<td class="nump">42,450<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredForeignIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="num">(41,969)<span></span>
</td>
<td class="nump">255<span></span>
</td>
<td class="nump">1,769<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignIncomeTaxExpenseBenefitContinuingOperations', window );">Total Foreign</a></td>
<td class="num">(28,578)<span></span>
</td>
<td class="nump">47,166<span></span>
</td>
<td class="nump">44,219<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Total</a></td>
<td class="nump">$ 3,084,343<span></span>
</td>
<td class="nump">$ 4,895,884<span></span>
</td>
<td class="nump">$ 3,442,768<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_FederalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_FederalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_ForeignAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_ForeignAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_StateLocalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_StateLocalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentFederalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Paragraph Question 1-7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentFederalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentForeignTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentForeignTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentStateAndLocalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredForeignIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredForeignIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current and deferred federal income tax expense (benefit) attributable to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32672-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current and deferred foreign income tax expense (benefit) attributable to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of state and local current and deferred income tax expense (benefit) attributable to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)-(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772649456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>9.  INCOME TAXES (Details) - Federal income tax expense reconciliation to statutory rate - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_FederalIncomeTaxExpenseReconciliationToStatutoryRateAbstract', window );"><strong>Federal income tax expense reconciliation to statutory rate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate', window );">Expected expense at statutory rate</a></td>
<td class="nump">$ 3,404,159<span></span>
</td>
<td class="nump">$ 5,147,234<span></span>
</td>
<td class="nump">$ 3,775,418<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_IncreaseDecreaseInIncomeTaxesResultingFromAbstract', window );"><strong>Increase (decrease) in income taxes resulting from:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationTaxHolidays', window );">Exempt income from Dominican Republic operations due to tax holiday</a></td>
<td class="num">(2,816,963)<span></span>
</td>
<td class="num">(3,477,301)<span></span>
</td>
<td class="num">(1,871,847)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings', window );">Tax on repatriated earnings from Dominican Republic operations</a></td>
<td class="nump">2,556,940<span></span>
</td>
<td class="nump">3,090,036<span></span>
</td>
<td class="nump">1,592,238<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential', window );">Impact of Canadian deemed dividend</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,703<span></span>
</td>
<td class="nump">9,712<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes', window );">State and local income taxes</a></td>
<td class="nump">67,886<span></span>
</td>
<td class="nump">284,838<span></span>
</td>
<td class="nump">45,948<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationOtherAdjustments', window );">Section 199 manufacturing deduction</a></td>
<td class="num">(194,498)<span></span>
</td>
<td class="num">(135,690)<span></span>
</td>
<td class="num">(51,396)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment', window );">Meals and entertainment</a></td>
<td class="nump">98,082<span></span>
</td>
<td class="nump">91,475<span></span>
</td>
<td class="nump">76,465<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther', window );">Nondeductible penalties</a></td>
<td class="nump">5,998<span></span>
</td>
<td class="nump">1,563<span></span>
</td>
<td class="nump">1,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationOtherReconcilingItems', window );">Provision to return filing adjustments and other</a></td>
<td class="num">(37,261)<span></span>
</td>
<td class="num">(118,974)<span></span>
</td>
<td class="num">(135,270)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Total</a></td>
<td class="nump">$ 3,084,343<span></span>
</td>
<td class="nump">$ 4,895,884<span></span>
</td>
<td class="nump">$ 3,442,768<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to foreign income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph h<br> -Subparagraph 1<br> -Article 4<br></p></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph h<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible meals and entertainment expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other nondeductible expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationOtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationOtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationOtherReconcilingItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to tax exempt income, equity in earnings (loss) of an unconsolidated subsidiary, minority noncontrolling interest income (loss), tax holiday, disposition of a business, disposition of an asset, repatriation of foreign earnings, repatriation of foreign earnings jobs creation act of 2004, increase (decrease) in enacted tax rate, prior year income taxes, increase (decrease) in deferred tax asset valuation allowance, and other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationOtherReconcilingItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to repatriation of foreign earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationRepatriationOfForeignEarnings</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph h<br> -Subparagraph 1<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationTaxHolidays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income exempt from income tax because of a tax holiday.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationTaxHolidays</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772249344">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>9.  INCOME TAXES (Details) - Deferred income taxes - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_DeferredTaxAssetsAbstract', window );"><strong>Deferred tax assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities', window );">Asset valuation allowances and accrued expenses</a></td>
<td class="nump">$ 510,798<span></span>
</td>
<td class="nump">$ 776,416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsInventory', window );">Inventories</a></td>
<td class="nump">563,815<span></span>
</td>
<td class="nump">705,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsStateTaxes', window );">State and local income taxes</a></td>
<td class="nump">425,179<span></span>
</td>
<td class="nump">394,776<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions', window );">Pension and deferred compensation</a></td>
<td class="nump">72,004<span></span>
</td>
<td class="nump">80,969<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating losses</a></td>
<td class="nump">650,620<span></span>
</td>
<td class="nump">575,702<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Total deferred tax assets</a></td>
<td class="nump">2,222,416<span></span>
</td>
<td class="nump">2,532,891<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowances</a></td>
<td class="num">(569,459)<span></span>
</td>
<td class="num">(569,881)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Total deferred tax assets</a></td>
<td class="nump">1,652,957<span></span>
</td>
<td class="nump">1,963,010<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesAbstract', window );"><strong>Deferred tax liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment', window );">Fixed assets</a></td>
<td class="num">(1,655,838)<span></span>
</td>
<td class="num">(1,736,042)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets', window );">Intangible assets</a></td>
<td class="num">(11,185,988)<span></span>
</td>
<td class="num">(11,001,289)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesOtherFiniteLivedAssets', window );">Other assets</a></td>
<td class="num">(400,651)<span></span>
</td>
<td class="num">(482,549)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesOther', window );">Tollgate tax on Lifestyle earnings</a></td>
<td class="num">(379,271)<span></span>
</td>
<td class="num">(379,271)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesGrossNoncurrent', window );">Total deferred tax liabilities</a></td>
<td class="num">(13,621,748)<span></span>
</td>
<td class="num">(13,599,151)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilities', window );">Net deferred tax liability</a></td>
<td class="num">(11,968,791)<span></span>
</td>
<td class="num">(11,636,141)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxesAndOtherAssetsCurrent', window );">Deferred income taxes - current</a></td>
<td class="nump">1,031,818<span></span>
</td>
<td class="nump">1,291,907<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent', window );">Deferred income taxes - non-current</a></td>
<td class="num">$ (13,000,609)<span></span>
</td>
<td class="num">$ (12,928,048)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_DeferredTaxAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_DeferredTaxAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxesAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and other assets expected to be realized or consumed within one year or normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxesAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences, after deferred tax asset, and other liabilities expected to be paid after one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Asset<br> -URI http://asc.fasb.org/extlink&amp;oid=6510090<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsInventory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsInventory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsStateTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from state taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsStateTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from pension benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, before jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilities</td>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesAbstract</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesGrossNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross amount of noncurrent deferred tax liabilities, which result from applying the applicable tax rate to taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesGrossNoncurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesOther</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesOtherFiniteLivedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from long-lived assets other than property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesOtherFiniteLivedAssets</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772293648">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th"><div>Aug. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PolicyTextBlockAbstract', window );"><strong>Policy Text Block [Abstract]</strong></a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share)</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">23,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
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</td>
<td class="nump">28,000<span></span>
</td>
<td class="nump">23,000<span></span>
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<td class="nump">30,000<span></span>
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<td class="nump">23,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OptionIndexedToIssuersEquityStrikePrice1', window );">Option Indexed to Issuer's Equity, Strike Price (in Dollars per share)</a></td>
<td class="nump">$ 18.15<span></span>
</td>
<td class="nump">$ 13.42<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value (in Dollars per share)</a></td>
<td class="nump">$ 5.95<span></span>
</td>
<td class="nump">$ 4.70<span></span>
</td>
<td class="nump">$ 5.94<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate</a></td>
<td class="nump">40.32%<span></span>
</td>
<td class="nump">46.20%<span></span>
</td>
<td class="nump">52.04%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate</a></td>
<td class="nump">1.98%<span></span>
</td>
<td class="nump">1.92%<span></span>
</td>
<td class="nump">2.41%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate</a></td>
<td class="nump">2.46%<span></span>
</td>
<td class="nump">2.99%<span></span>
</td>
<td class="nump">2.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate</a></td>
<td class="nump">3.80%<span></span>
</td>
<td class="nump">3.80%<span></span>
</td>
<td class="nump">3.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 54,828<span></span>
</td>
<td class="nump">$ 27,324<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationForfeited', window );">Stock Granted, Value, Share-based Compensation, Forfeited (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47,600<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 248,004<span></span>
</td>
<td class="nump">$ 136,620<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross', window );">Stock Issued During Period, Shares, Share-based Compensation, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Stock Granted, Value, Share-based Compensation, Net of Forfeitures (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 175,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred Stock, Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredUnitsAuthorized', window );">Preferred Units, Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance', window );">Convertible Preferred Stock, Shares Reserved for Future Issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate number of nonredeemable convertible preferred shares reserved for future issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConvertiblePreferredStockSharesReservedForFutureIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested options awarded to employees as compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OptionIndexedToIssuersEquityStrikePrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise or strike price stated in the contract for options indexed to the issuer's equity shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 480<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6940734&amp;loc=d3e22047-110879<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6445032&amp;loc=d3e90205-114008<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OptionIndexedToIssuersEquityStrikePrice1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PolicyTextBlockAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PolicyTextBlockAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredUnitsAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of preferred units authorized to be issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB TOPIC 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70434-108055<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredUnitsAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedStockExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncash expense that represents the cost of restricted stock or unit distributed to employees as compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedStockExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Restrictions on equity-based instruments during the vesting period, such as the inability to transfer unvested awards, are not taken into account in estimating the fair value of the award. However, restrictions that remain in effect after an award is vested, such as the inability to transfer or hedge vested options or a prohibition on the sale of outstanding vested shares (or other type of equity) for a period of time, affect the estimate of an award's fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(v)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Agreed-upon price for the exchange of the underlying asset relating to the share-based payment award.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average expected volatility rate of share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of fully vested and expected to vest options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of vesting of share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value, after forfeitures, of stock or other type of equity granted of any equity-based compensation plan other than an employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 30<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51830203&amp;loc=d3e3913-113898<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 30<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6418191&amp;loc=d3e15009-113911<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationForfeited">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of forfeitures of stock or other type of equity granted of any equity-based compensation plan other than an employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph c(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationForfeited</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6771863952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>11.  CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - Future Stock Compensation Expense - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1">48 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_FutureStockCompensationExpenseAbstract', window );"><strong>Future Stock Compensation Expense [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_FutureStockCompensationExpense', window );">Future Stock Compensation Expense</a></td>
<td class="nump">$ 23,174<span></span>
</td>
<td class="nump">$ 132,463<span></span>
</td>
<td class="nump">$ 206,246<span></span>
</td>
<td class="nump">$ 215,585<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_TotalExpectedShareBasedCompensation', window );">Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 577,468<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_FutureStockCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_FutureStockCompensationExpense</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_FutureStockCompensationExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_FutureStockCompensationExpenseAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_TotalExpectedShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_TotalExpectedShareBasedCompensation</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<head>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6773358336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>11.  CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - Stock Options - $ / shares<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Jan. 02, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_StockOptionsAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Stock Options Outstanding</a></td>
<td class="nump">51,600<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
<td class="nump">51,600<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Weighted Average Price of Options Outstanding</a></td>
<td class="nump">$ 14.08<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="nump">$ 14.08<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Remaining Life of Options Outstanding</a></td>
<td class="text">8 years 219 days<span></span>
</td>
<td class="text">9 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod', window );">Stock Options Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,000<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Weighted Average Price of Options Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13.74<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised', window );">Stock Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Weighted Average Price of Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Stock Options Forfeited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(800)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Weighted Average Price of Options Forfeited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_OptionsExercisableAtAbstract', window );"><strong>Options exercisable at:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options Exercisable</a></td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice', window );">Weighted Average Price of Options Exercisable</a></td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Remaining Life of Options Exercisable</a></td>
<td class="text">8 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Options outstanding and unvested</a></td>
<td class="nump">47,600<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
<td class="nump">47,600<span></span>
</td>
<td class="nump">23,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Weighted Average Price of Options Unvested</a></td>
<td class="nump">$ 14.04<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="nump">$ 14.04<span></span>
</td>
<td class="nump">$ 14.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Remaining Life of Options Unvested</a></td>
<td class="text">8 years 219 days<span></span>
</td>
<td class="text">9 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_OptionsExercisableAtAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_OptionsExercisableAtAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_StockOptionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_StockOptionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-option equity instruments exercised by participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding stock options which are in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of outstanding stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784312592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>12.  SUPPLEMENTAL CASH FLOW INFORMATION (Details) - Supplemental cash flow information - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Cash Flow Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid</a></td>
<td class="nump">$ 724,651<span></span>
</td>
<td class="nump">$ 856,578<span></span>
</td>
<td class="nump">$ 683,475<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Federal, state and local income taxes paid - net of refunds</a></td>
<td class="nump">5,568,581<span></span>
</td>
<td class="nump">972,645<span></span>
</td>
<td class="nump">3,248,181<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1', window );">Fixed asset purchases in accounts payable</a></td>
<td class="nump">$ 92,903<span></span>
</td>
<td class="nump">$ 85,488<span></span>
</td>
<td class="nump">$ 459,941<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fixed assets that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6769540608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>13. SEGMENT INFORMATION (Details) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>Segment Reporting [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_GovernmentContractMinimumPurchase', window );">Government Contract Minimum Purchase (in Dollars)</a></td>
<td class="nump">$ 3.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_GovermentContractMaximumRevenue', window );">Government Contract Maximum Revenue (in Dollars)</a></td>
<td class="nump">$ 15.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_ForeignSalesPercentage', window );">Foreign Sales Percentage</a></td>
<td class="nump">4.80%<span></span>
</td>
<td class="nump">6.30%<span></span>
</td>
<td class="nump">2.90%<span></span>
</td>
</tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_ForeignSalesPercentage</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_GovermentContractMaximumRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum amount of sales allowable under specific govementment contracts to produce goods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_GovermentContractMaximumRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_GovernmentContractMinimumPurchase">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The minimum amount of purchase commitment under a government contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_GovernmentContractMinimumPurchase</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784498928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>13.  SEGMENT INFORMATION (Details) - Segment Table - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSalesAbstract', window );"><strong>NET SALES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_SalesRevenueSegment', window );">Total Net Sales</a></td>
<td class="nump">$ 269,302,023<span></span>
</td>
<td class="nump">$ 286,242,169<span></span>
</td>
<td class="nump">$ 244,870,731<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_GrossMarginAbstract', window );"><strong>GROSS MARGIN:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_SegmentOperatingProfitorLoss', window );">Total Gross Margin</a></td>
<td class="nump">88,891,839<span></span>
</td>
<td class="nump">96,360,725<span></span>
</td>
<td class="nump">83,542,451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Segment_Gross_Margin_Axis=rcky_Wholesale_Member', window );">Wholesale (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_GrossMarginAbstract', window );"><strong>GROSS MARGIN:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_SegmentOperatingProfit', window );">Gross Margin</a></td>
<td class="nump">65,979,792<span></span>
</td>
<td class="nump">75,840,977<span></span>
</td>
<td class="nump">62,420,052<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Segment_Gross_Margin_Axis=rcky_Retail_Member', window );">Retail (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_GrossMarginAbstract', window );"><strong>GROSS MARGIN:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_SegmentOperatingProfit', window );">Gross Margin</a></td>
<td class="nump">20,621,884<span></span>
</td>
<td class="nump">19,449,609<span></span>
</td>
<td class="nump">19,856,441<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Segment_Gross_Margin_Axis=rcky_Military_Member', window );">Military (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_GrossMarginAbstract', window );"><strong>GROSS MARGIN:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_SegmentOperatingProfit', window );">Gross Margin</a></td>
<td class="nump">2,290,163<span></span>
</td>
<td class="nump">1,070,139<span></span>
</td>
<td class="nump">1,265,958<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Segment_Reporting_Axis=rcky_Wholesale_Member', window );">Wholesale (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSalesAbstract', window );"><strong>NET SALES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSales_Segment_Revenue', window );">Net Sales</a></td>
<td class="nump">206,072,657<span></span>
</td>
<td class="nump">233,898,250<span></span>
</td>
<td class="nump">192,901,438<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Segment_Reporting_Axis=rcky_Retail_Member', window );">Retail (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSalesAbstract', window );"><strong>NET SALES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSales_Segment_Revenue', window );">Net Sales</a></td>
<td class="nump">45,808,705<span></span>
</td>
<td class="nump">44,347,775<span></span>
</td>
<td class="nump">43,092,829<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_Segment_Reporting_Axis=rcky_Military_Member', window );">Military (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSalesAbstract', window );"><strong>NET SALES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetSales_Segment_Revenue', window );">Net Sales</a></td>
<td class="nump">$ 17,420,661<span></span>
</td>
<td class="nump">$ 7,996,144<span></span>
</td>
<td class="nump">$ 8,876,464<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_GrossMarginAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_GrossMarginAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_NetSalesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_NetSalesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_NetSales_Segment_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net Sales of the Reportable Segments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_NetSales_Segment_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_SalesRevenueSegment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenues for reportable segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_SalesRevenueSegment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_SegmentOperatingProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income or loss for the reportable segment before unusual Items, equity method income or loss, income taxes, and extraordinary items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_SegmentOperatingProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_SegmentOperatingProfitorLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of profit or loss recognized by the reportable segment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_SegmentOperatingProfitorLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_Segment_Gross_Margin_Axis=rcky_Wholesale_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Segment_Gross_Margin_Axis=rcky_Wholesale_Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Segment_Gross_Margin_Axis=rcky_Retail_Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_Segment_Gross_Margin_Axis=rcky_Military_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Segment_Gross_Margin_Axis=rcky_Military_Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_Segment_Reporting_Axis=rcky_Wholesale_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Segment_Reporting_Axis=rcky_Wholesale_Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_Segment_Reporting_Axis=rcky_Retail_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Segment_Reporting_Axis=rcky_Retail_Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_Segment_Reporting_Axis=rcky_Military_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_Segment_Reporting_Axis=rcky_Military_Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784731664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>13.  SEGMENT INFORMATION (Details) - Product Group Information - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 269,302,023<span></span>
</td>
<td class="nump">$ 286,242,169<span></span>
</td>
<td class="nump">$ 244,870,731<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Work_Member', window );">Work (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 120,422,188<span></span>
</td>
<td class="nump">$ 131,510,217<span></span>
</td>
<td class="nump">$ 123,131,787<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">44.70%<span></span>
</td>
<td class="nump">45.90%<span></span>
</td>
<td class="nump">50.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Western_Member', window );">Western (Member0</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 43,435,734<span></span>
</td>
<td class="nump">$ 45,475,880<span></span>
</td>
<td class="nump">$ 36,998,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">16.10%<span></span>
</td>
<td class="nump">15.90%<span></span>
</td>
<td class="nump">15.10%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Commercial_Military_Member', window );">CommercialMilitary (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 33,341,424<span></span>
</td>
<td class="nump">$ 38,174,738<span></span>
</td>
<td class="nump">$ 33,517,114<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">12.40%<span></span>
</td>
<td class="nump">13.30%<span></span>
</td>
<td class="nump">13.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Lifestyle_Member', window );">Lifestyle (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 23,370,822<span></span>
</td>
<td class="nump">$ 25,823,220<span></span>
</td>
<td class="nump">$ 10,599,879<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">8.70%<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
<td class="nump">4.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Outdoor_Member', window );">Outdoor (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 20,688,005<span></span>
</td>
<td class="nump">$ 24,606,151<span></span>
</td>
<td class="nump">$ 20,194,524<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">7.70%<span></span>
</td>
<td class="nump">8.60%<span></span>
</td>
<td class="nump">8.20%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Military_Member', window );">Military (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 17,420,661<span></span>
</td>
<td class="nump">$ 7,996,144<span></span>
</td>
<td class="nump">$ 8,876,464<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">6.50%<span></span>
</td>
<td class="nump">2.80%<span></span>
</td>
<td class="nump">3.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Apparel_Member', window );">Apparel (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 5,662,277<span></span>
</td>
<td class="nump">$ 7,471,005<span></span>
</td>
<td class="nump">$ 6,676,075<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">2.10%<span></span>
</td>
<td class="nump">2.60%<span></span>
</td>
<td class="nump">2.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Other_Member', window );">Other Products (Member)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 4,155,137<span></span>
</td>
<td class="nump">$ 4,100,128<span></span>
</td>
<td class="nump">$ 4,454,968<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">1.50%<span></span>
</td>
<td class="nump">1.40%<span></span>
</td>
<td class="nump">1.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=rcky_Royalty_Income_Member', window );">Royalty Income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductInformationLineItems', window );"><strong>Product Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueOtherManufacturedProducts', window );">Product Categories</a></td>
<td class="nump">$ 805,775<span></span>
</td>
<td class="nump">$ 1,084,686<span></span>
</td>
<td class="nump">$ 421,416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNetPercentage', window );">Product Percentage of Sales</a></td>
<td class="nump">0.30%<span></span>
</td>
<td class="nump">0.40%<span></span>
</td>
<td class="nump">0.20%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductInformationLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueOtherManufacturedProducts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue not otherwise defined in the taxonomy from the sale of manufactured products.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueOtherManufacturedProducts</td>
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<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueGoodsNetPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net product revenue to total net revenue from the sale of goods as of year end.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueGoodsNetPercentage</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Work_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Work_Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Western_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Western_Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Commercial_Military_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Commercial_Military_Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Lifestyle_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Lifestyle_Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Outdoor_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Outdoor_Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Military_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Military_Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Apparel_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Apparel_Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Other_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Other_Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=rcky_Royalty_Income_Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=rcky_Royalty_Income_Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
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<SEQUENCE>73
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6772431008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>14.  QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - Unaudited Quarterly Results - USD ($)<br></strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
<th class="th"><div>Mar. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_a2015Abstract', window );"><strong>2015</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
<td class="nump">$ 65,266,028<span></span>
</td>
<td class="nump">$ 70,001,496<span></span>
</td>
<td class="nump">$ 68,583,196<span></span>
</td>
<td class="nump">$ 65,451,303<span></span>
</td>
<td class="nump">$ 78,906,687<span></span>
</td>
<td class="nump">$ 72,729,678<span></span>
</td>
<td class="nump">$ 68,822,520<span></span>
</td>
<td class="nump">$ 65,783,284<span></span>
</td>
<td class="nump">$ 269,302,023<span></span>
</td>
<td class="nump">$ 286,242,169<span></span>
</td>
<td class="nump">$ 244,870,731<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross margin</a></td>
<td class="nump">22,154,419<span></span>
</td>
<td class="nump">22,117,477<span></span>
</td>
<td class="nump">22,648,633<span></span>
</td>
<td class="nump">21,971,310<span></span>
</td>
<td class="nump">27,648,122<span></span>
</td>
<td class="nump">24,273,792<span></span>
</td>
<td class="nump">22,585,662<span></span>
</td>
<td class="nump">21,853,149<span></span>
</td>
<td class="nump">88,891,839<span></span>
</td>
<td class="nump">96,360,725<span></span>
</td>
<td class="nump">83,542,451<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">1,382,870<span></span>
</td>
<td class="nump">1,803,667<span></span>
</td>
<td class="nump">2,002,673<span></span>
</td>
<td class="nump">1,413,947<span></span>
</td>
<td class="nump">4,471,542<span></span>
</td>
<td class="nump">3,138,507<span></span>
</td>
<td class="nump">1,511,461<span></span>
</td>
<td class="nump">723,788<span></span>
</td>
<td class="nump">6,603,157<span></span>
</td>
<td class="nump">9,845,298<span></span>
</td>
<td class="nump">$ 7,372,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsCommonStock', window );">Dividends paid</a></td>
<td class="nump">$ 832,401<span></span>
</td>
<td class="nump">$ 832,073<span></span>
</td>
<td class="nump">$ 831,827<span></span>
</td>
<td class="nump">$ 755,953<span></span>
</td>
<td class="nump">$ 755,012<span></span>
</td>
<td class="nump">$ 754,665<span></span>
</td>
<td class="nump">$ 754,321<span></span>
</td>
<td class="nump">$ 753,981<span></span>
</td>
<td class="nump">$ 3,252,254<span></span>
</td>
<td class="nump">$ 3,017,979<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_NetIncomePerCommonShareAbstract', window );"><strong>Net income per common share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6773910416">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>15. ACQUISITION OF CREATIVE RECREATION (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationsAbstract', window );"><strong>Business Combinations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferredOther', window );">Business Combination, Consideration Transferred, Other</a></td>
<td class="nump">$ 8,722,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,722,843<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Operating Expenses</a></td>
<td class="nump">$ 172,418<span></span>
</td>
<td class="nump">$ 78,402,079<span></span>
</td>
<td class="nump">$ 80,597,934<span></span>
</td>
<td class="nump">72,523,735<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationAcquisitionRelatedCosts', window );">Business Combination, Acquisition Related Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,172,047<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual', window );">Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,600,000<span></span>
</td>
<td class="nump">$ 16,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationAcquisitionRelatedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=34752592&amp;loc=d3e1043-128460<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationAcquisitionRelatedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferredOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the acquisition-date fair value of any tangible or intangible assets, including a business or subsidiary of the acquirer, but excluding cash, transferred by the entity to the former owners of the acquire.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferredOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6773992080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>15.  ACQUISITION OF CREATIVE RECREATION (Details) - Acquisition Related Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_AcquisitionRelatedExpensesAbstract', window );"><strong>Acquisition Related Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherGeneralExpense', window );">Investment banker fees</a></td>
<td class="nump">$ 503,072<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalFees', window );">Professional fees</a></td>
<td class="nump">187,585<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCostOfServices', window );">Valuation services</a></td>
<td class="nump">37,561<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeBenefitsAndShareBasedCompensation', window );">Stock compensation expense</a></td>
<td class="nump">290,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FreightCosts', window );">Freight and warehousing expenses</a></td>
<td class="nump">86,726<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TravelAndEntertainmentExpense', window );">Travel Expenses</a></td>
<td class="nump">66,303<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationAcquisitionRelatedCosts', window );">Total acquisition related expenses</a></td>
<td class="nump">$ 1,172,047<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_AcquisitionRelatedExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_AcquisitionRelatedExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationAcquisitionRelatedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=34752592&amp;loc=d3e1043-128460<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationAcquisitionRelatedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeBenefitsAndShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Costs and payments related to employee benefits and equity-based compensation, such as pension expense and contributions, other postretirement benefits expense and payments, stock or unit options expense, and amortization of restricted stock or unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeBenefitsAndShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FreightCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost of freight-in, whether based on weight, negotiated freight rates and method of transportation (that is, rail, barge, truck, and so forth).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FreightCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCostOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other costs incurred and are directly related to services rendered by an entity during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCostOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherGeneralExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of general expenses not normally included in Other Operating Costs and Expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherGeneralExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.2(a),(b),(c),(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (k)<br> -URI http://asc.fasb.org/extlink&amp;oid=6488370&amp;loc=d3e13550-115849<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TravelAndEntertainmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses incurred for travel and entertainment during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TravelAndEntertainmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6773790320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>15.  ACQUISITION OF CREATIVE RECREATION (Details) - Purchase Price Allocation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_PurchasePriceAllocationAbstract', window );"><strong>Purchase Price Allocation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred', window );">Purchase Price</a></td>
<td class="nump">$ 2,229,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_rcky_PreliminaryAllocationOfPurchasePriceAbstract', window );"><strong>Preliminary Allocation of Purchase Price</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationAcquiredReceivablesFairValue', window );">Accounts receivable</a></td>
<td class="num">(1,081,764)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory', window );">Inventories</a></td>
<td class="num">(1,162,360)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets', window );">Prepaid expenses and deposits</a></td>
<td class="num">(82,339)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment', window );">Property and equipment</a></td>
<td class="num">(698,355)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable', window );">Trademarks</a></td>
<td class="num">(5,100,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets', window );">Customer relationships</a></td>
<td class="num">(1,200,000)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired', window );">Total assets acquired</a></td>
<td class="num">(9,324,818)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable', window );">Accounts payable</a></td>
<td class="nump">6,493,843<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Net gain on purchase</a></td>
<td class="num">$ (601,975)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_PreliminaryAllocationOfPurchasePriceAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_PreliminaryAllocationOfPurchasePriceAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_rcky_PurchasePriceAllocationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">rcky_PurchasePriceAllocationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>rcky_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition cost of a business combination allocated to an identifiable intangible asset that will be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition cost of a business combination allocated to assets acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition cost of a business combination allocated to prepaid expenses and other current assets. Does not include amounts allocated to cash and cash equivalents, marketable securities, receivables, inventory, and assets not to be used.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition cost of a business combination allocated to accounts payable of the acquired entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition cost of a business combination allocated to equipment used in the normal course of business, not including equipment that is held-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPurchasePriceAllocationEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition cost of a business combination allocated to an identifiable intangible asset that will not be amortized. Does not include goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsNotAmortizable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationAcquiredReceivablesFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For receivables acquired in a business combination, excluding certain loans and debt securities acquired in a transfer (as defined), this element represents the fair value of the receivables acquired, by major class of receivable, such as loans, direct finance leases (as defined), and any other class of receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationAcquiredReceivablesFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the acquisition-date fair value of the total consideration transferred which consists of the sum of the acquisition-date fair values of the assets transferred by the acquirer, the liabilities incurred by the acquirer to former owners of the acquiree, and the equity interests issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of inventory recognized as of the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=35744172&amp;loc=d3e2207-128464<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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/**
 * Rivet Software Inc.
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 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
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var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
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Show.showAR = function ( link, id, win ){
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
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	font-size: 1em;
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..report table.authRefData a {
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..report table.authRefData p {
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}

..report table.authRefData .hide {
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	padding: 1px 3px 0px 0px;
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..report table.authRefData .hide a:hover {
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..report table.authRefData .body {
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..report table.authRefData table{
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/* Report Styles */
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/* table */
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..report .pl {
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..report td.pl div.a {
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/* Header rows... */
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/* Calendars... */
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..report sup {
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
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      <HtmlFileName>R6.htm</HtmlFileName>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
