Deckers Outdoor Corp reports record Q3 financial results
30 Oct '06
3 min read
Deckers Outdoor Corporation announced financial results for the third quarter ended September 30, 2006.
Third Quarter Highlights Net sales increased 19.0 percent to $82.3 million versus $69.2 million last year; ahead of previous guidance range of $71million to $74 million.
Gross margin increased 320 basis points to 45.2 percent compared to 42.0 percent a year ago.
Diluted EPS was $0.83; ahead of previous guidance range of $0.51 to $0.54. Cash and short-term investments increased to $45.3 million compared to $19.1 million a year ago.
Inventories decreased to $51.5 million versus $66.8 million a year ago.
"Our strong third quarter performance was gratifying, as UGG sales once again outpaced our expectations," commented President and Chief Executive Officer, Angel Martinez.
"These results reflect the effective execution of our strategy to diversify the product line, increase the breadth and depth of each collection, expand our target demographic, and underscore the growing lifestyle status of the brand. At the same time, our ability to control costs, primarily labor and materials, resulted in significant gross margin expansion for the quarter.”
“However, we expect gross margins to return to more normalized levels in 2007. We are excited about our prospects and committed to capitalizing on the many opportunities that still lie ahead for all three of our brands."
Third Quarter Segment Summary Teva Teva net sales for the third quarter increased to $10.0 million compared to $9.7 million for the same period last year.
marketing@alchempro.com
