Deckers Outdoor Corporation announced financial results for the first quarter ended March 31, 2007.
Net sales increased 29.6% to $72.6 million versus $56.0 million last year. Gross margin increased 210 basis points to 46.2% compared to 44.1% a year ago. Diluted EPS increased 70.5% to $0.75 versus $0.44 last year.
Angel Martinez, President and Chief Executive Officer, stated, "We begin 2007 with a solid first quarter highlighted by double digit sales increases for Teva, UGG and Simple. Our ability to once again exceed expectations was primarily driven by strong full price selling for the UGG brand coupled with positive consumer reaction to our reengineered Teva product line, which underscores our ongoing efforts to revitalize the brand at retail and our strategic decision to target a younger, more active demographic."
"At the same time, Simple continued to gain important shelf space at retail while further building its leadership position in sustainable footwear. Looking ahead, we believe we are well positioned to capitalize on our future growth opportunities and we remain confident in our ability to achieve both our near- and long-term objectives."
Teva Brand net sales for the first quarter increased 11.6% to $38.7 million compared to $34.7 million for the same period last year. Sales were driven by demand for new styles, particularly the performance water series featuring higher price point products such as the Karnali Wraptor, Toachi and Sunkosi, along with solid sell-through of men's and women's casuals including updated versions of the Dozer.
marketing@alchempro.com
