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Deckers reports record Q3 financial results
24 Oct '08
4 min read
Retail Stores
Sales for the retail store business, which are included in the brand sales numbers above, increased 92.3% to $5.4 million for the third quarter compared to $2.8 million for the same period a year ago.
Full-Year 2008 Outlook
Based upon the Company's better than expected third quarter results coupled with its increased expectation for the fourth quarter, the Company currently expects its full year revenue to increase approximately 52% over 2007, up from previous guidance of approximately 43%.
The Company currently expects its full year diluted earnings per share to increase approximately 40% over 2007, up from previous guidance of approximately 34%. These percentages exclude the impact of the non-cash charge related to the second quarter write-down of the Teva trademarks as previously disclosed in the Company's press release announcing its financial results for the three months ended June 30, 2008.
This guidance also assumes a gross profit margin of approximately 45% and SG&A as a percentage of sales of approximately 23%, both consistent with previous expectations.
Fiscal 2008 guidance includes approximately $10.5 million of stock compensation expense, compared to $6.6 million in 2007.
Fourth Quarter Outlook
The Company is also increasing its fourth quarter 2008 revenue growth target to approximately 52% and its diluted earnings per share growth target to approximately 44%, each as compared to the fourth quarter of 2007. This is up from its previous revenue and diluted earnings per share growth targets of 45% and 42%, respectively.
Sales for the retail store business, which are included in the brand sales numbers above, increased 92.3% to $5.4 million for the third quarter compared to $2.8 million for the same period a year ago.
Full-Year 2008 Outlook
Based upon the Company's better than expected third quarter results coupled with its increased expectation for the fourth quarter, the Company currently expects its full year revenue to increase approximately 52% over 2007, up from previous guidance of approximately 43%.
The Company currently expects its full year diluted earnings per share to increase approximately 40% over 2007, up from previous guidance of approximately 34%. These percentages exclude the impact of the non-cash charge related to the second quarter write-down of the Teva trademarks as previously disclosed in the Company's press release announcing its financial results for the three months ended June 30, 2008.
This guidance also assumes a gross profit margin of approximately 45% and SG&A as a percentage of sales of approximately 23%, both consistent with previous expectations.
Fiscal 2008 guidance includes approximately $10.5 million of stock compensation expense, compared to $6.6 million in 2007.
Fourth Quarter Outlook
The Company is also increasing its fourth quarter 2008 revenue growth target to approximately 52% and its diluted earnings per share growth target to approximately 44%, each as compared to the fourth quarter of 2007. This is up from its previous revenue and diluted earnings per share growth targets of 45% and 42%, respectively.
Deckers Outdoor Corporation
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