Deckers Outdoor Corp Earnings: Fifth Consecutive Quarter of Double-Digit Revenue Growth

Deckers Outdoor Corporation (NASDAQ:DECK) reported higher profit for the fourth quarter as revenue showed growth. Deckers Outdoor Corporation is a designer, producer, marketer, and brand manager of innovative, high-quality footwear and accessories.

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Deckers Outdoor Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the footwear and apparel company rose to $124.7 million ($3.18 per share) vs. $89.2 million ($2.27 per share) in the same quarter a year earlier. This marks a rise of 39.8% from the year-earlier quarter.

Revenue: Rose 40.4% to $603.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Deckers Outdoor Corporation beat the mean analyst estimate of $3.12 per share. It beat the average revenue estimate of $564.6 million.

Quoting Management: “Our fourth quarter results exceeded expectations and were the highest in the history of the Company for sales and profitability,” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors. “UGG brand sales once again grew at a robust pace during the holidays, fueling our record performance and easily pushing annual sales for the UGG brand above $1 billion for the first time. We are very pleased with the UGG brand results, particularly the growing diversity of the sales mix in terms of product collections, distribution channels, and geographies.”

Key Stats:

For the past five quarters, the company has seen double-digit year-over-year percentage revenue growth. Over that span, the company has averaged growth of 31.4%, with the biggest boost coming in the third quarter when revenue rose 49.1% from the year earlier quarter.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 25 cents in the third quarter, by 5 cents in the second quarter, and by 2 cents in the first quarter.

Gross margin shrank 3.3 percentage points to 51%. The contraction appeared to be driven by increased costs, which rose 50.5% from the year earlier quarter while revenue rose 40.4%.

Looking Forward: Over the past ninety days, the average estimate for the first quarter of the next fiscal year has fallen from 69 cents per share to 63 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. The average estimate for the fiscal year is $5.03 per share, a rise from $5 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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