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Deckers Outdoor inventories decline in Q1, ups Fiscal 2006 guidance
28 Apr '06
3 min read
Leading Outdoor Corporation Deckers Outdoor Corporation announced financial results for the first quarter ended March 31, 2006.
For the first quarter, net sales were $56.0 million compared to $64.3 million in the same period last year. Net earnings for the quarter were $5.6 million compared to earnings of $8.9 million last year and earnings per diluted share was $0.44 versus earnings per diluted share of $0.69 in the first quarter of 2005.
Including sales from both the wholesale divisions and the consumer direct (our Internet, catalog and retail outlet division) business, Teva net sales for the first quarter were $34.7 million compared to $39.4 million in the same period last year.
UGG net sales for the quarter were $17.8 million versus $22.5 million a year ago, and Simple net sales increased 49.6 percent to $3.5 million for the first quarter compared to $2.4 million for the same period last year.
Sales for the consumer direct business, which are included in the brand sales numbers above, increased 31.6 percent to $6.5 million for the first quarter of 2006 compared to $5.0 million for the first quarter of 2005.
Gross margin for the first quarter of 2006 was 44.1 percent, compared to 46.0 percent for the first quarter of 2005, primarily due to higher closeouts and inventory write-downs.
Selling, general and administrative expenses ("SG&A") were $15.8 million or 28.2 percent of net sales for the first quarter of 2006 compared to $15.2 million or 23.6 percent of net sales in the first quarter of 2005.
For the first quarter, net sales were $56.0 million compared to $64.3 million in the same period last year. Net earnings for the quarter were $5.6 million compared to earnings of $8.9 million last year and earnings per diluted share was $0.44 versus earnings per diluted share of $0.69 in the first quarter of 2005.
Including sales from both the wholesale divisions and the consumer direct (our Internet, catalog and retail outlet division) business, Teva net sales for the first quarter were $34.7 million compared to $39.4 million in the same period last year.
UGG net sales for the quarter were $17.8 million versus $22.5 million a year ago, and Simple net sales increased 49.6 percent to $3.5 million for the first quarter compared to $2.4 million for the same period last year.
Sales for the consumer direct business, which are included in the brand sales numbers above, increased 31.6 percent to $6.5 million for the first quarter of 2006 compared to $5.0 million for the first quarter of 2005.
Gross margin for the first quarter of 2006 was 44.1 percent, compared to 46.0 percent for the first quarter of 2005, primarily due to higher closeouts and inventory write-downs.
Selling, general and administrative expenses ("SG&A") were $15.8 million or 28.2 percent of net sales for the first quarter of 2006 compared to $15.2 million or 23.6 percent of net sales in the first quarter of 2005.
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