Deckers Outdoor Corporation announced financial results for the second quarter ended June 30, 2007.
Second Quarter Highlights • Net sales increased 26.4% to $52.7 million compared to $41.7 million last year. • Diluted EPS was $0.20; ahead of previous guidance of approximately $0.04. • UGG Brand sales increased 65.2% to $26.3 million compared to $15.9 million a year ago. • Teva Brand sales increased 5.6% to $24.1 million compared to $22.8 million a year ago. • Total international sales increased 100% to $14.7 million compared to $7.3 million last year.
The following results and accompanying condensed consolidated balance sheets and statements of income (unaudited) are presented on a GAAP basis excluding the effect, if any of an internal review of certain employee payroll declarations and tax payments by certain of the Company's foreign subsidiaries in foreign jurisdictions as described in more detail on Exhibit A hereto.
Certain of the Company's historical financial statements may be required to be restated and the financial results and guidance included herein may change depending on the results of the internal review.
Angel Martinez, President and Chief Executive Officer, stated, "We are pleased with our results for the second quarter which helped complete a strong first half of fiscal 2007 for our company. UGG Brand sales once again outpaced expectations driven by robust demand for the brand both domestically and overseas."
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