Thursday, February 23, 2012
Uggly After Hours Action on Deckers Despite Earnings Beat (NASDAQ: DECK)
The company reported fiscal 2011 sales increased by 37.6% to a record $1.377 billion. Fiscal 2011 diluted EPS increased 25.8% to a record $5.07. Sales of UGG branded merchandise was still strong showing a growth of 37.6% to a record of $1.202 billion. Notice that UGG sales represent nearly all of the company's sales.
Q4 sales increased by 40.4% to a record $603.9 million. The EPS for the quarter increased 40.1% to a record $3.18. Analysts expected the company to earn $3.14 per share for quarter ended Dec 2011. Estimates from Wall Street analysts ranged from as low as $3.04 per share to as high as $3.25 per share. For the same quarter last year, the company earned $2.27 per share. Revenues were expected to come in at $565.21M.
Despite the earnings beat, the stock got crushed in after-hours trading. Additionally, the company announced it would do a share buyback.
Deckers Outdoor Corporation (Deckers) is a designer, producer, marketer, and brand manager of footwear and accessories.