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The company's SG&A expenses were $154.4 million for the first quarter compared to $146.9 million for the same period last year. Non-GAAP SG&A expenses were $153.9 million this year compared to $144.9 million last year.
During the first quarter, the company repurchased approximately 86,000 shares of its common stock for a total of $10 million. As of June 30, 2018, the Company had $241 million remaining under its $400 million in stock repurchase authorsations
"Fiscal 2019 is off to a solid start, with our first quarter revenue achieving a record high of $251 million, and continuing the momentum we have built," said Dave Powers, president and chief executive officer. "The UGG Spring Summer and HOKA ONE ONE product offerings drove significant year-over-year sales growth, while Teva also produced solid gains. This quarter's results are a testament that we are successfully progressing towards our long-term objectives and that our brands are well positioned in the marketplace."
In the second quarter, the net sales are expected to be in the range of $485.0 million to $495.0 million and Non-Gaap diluted earnings per share are expected to be in the range of $1.60 to $1.70.
For fiscal 2019, the net sales are likely to be in the range of $1.930 billion to $1.955 billion, with gross margin slightly better than 49 per cent, SG&A expenses as a percentage of sales are projected to be slightly better than 36.5 per cent and operating margin in the range of 12.6 per cent to 12.8 per cent. (RR)
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