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Deckers Outdoor inventories decline in Q1, ups Fiscal 2006 guidance
28 Apr '06
3 min read
Overall, inventories decreased to $31.3 million at March 31, 2006 compared to $45.4 million at March 31, 2005. UGG inventories were $15.6 million at March 31, 2006 compared to $26.1 million at March 31, 2005;
Teva inventories decreased to $11.9 million at March 31, 2006 compared to $16.9 million at March 31, 2005; and Simple inventories increased to $3.7 million at March 31, 2006 compared to $2.4 million at March 31, 2005.
In addition, the Company ended the first quarter of fiscal 2006 with approximately $65.3 million in cash and short-term investments compared to $17.6 million at the end of the first quarter of fiscal 2005.
Deckers also increased its guidance for fiscal 2006. The Company now expects net sales to range from $268 million to $276 million, and earnings per diluted share to be $2.21 to $2.29, compared to its previous guidance of sales between $260 million to $270 million, and earnings per diluted share of $2.05 to $2.15.
The Company also reiterated its comfort with its previous sales guidance for the second quarter of 2006 of $38 million to $40 million.
The fiscal 2006 guidance includes approximately $2.1 million of equity compensation expense which includes $700,000 of additional stock compensation expense related to the adoption of Statement of Financial Accounting Standards No. 123R, effective January 1, 2006.
Deckers Outdoor Corporation builds niche products into global lifestyle brands by designing and marketing innovative, functional and fashion-oriented footwear developed for both high performance outdoor activities and everyday casual lifestyle use.
The Company's products are offered under the Teva, Simple and UGG brand names, which are also its registered trademarks.
Teva inventories decreased to $11.9 million at March 31, 2006 compared to $16.9 million at March 31, 2005; and Simple inventories increased to $3.7 million at March 31, 2006 compared to $2.4 million at March 31, 2005.
In addition, the Company ended the first quarter of fiscal 2006 with approximately $65.3 million in cash and short-term investments compared to $17.6 million at the end of the first quarter of fiscal 2005.
Deckers also increased its guidance for fiscal 2006. The Company now expects net sales to range from $268 million to $276 million, and earnings per diluted share to be $2.21 to $2.29, compared to its previous guidance of sales between $260 million to $270 million, and earnings per diluted share of $2.05 to $2.15.
The Company also reiterated its comfort with its previous sales guidance for the second quarter of 2006 of $38 million to $40 million.
The fiscal 2006 guidance includes approximately $2.1 million of equity compensation expense which includes $700,000 of additional stock compensation expense related to the adoption of Statement of Financial Accounting Standards No. 123R, effective January 1, 2006.
Deckers Outdoor Corporation builds niche products into global lifestyle brands by designing and marketing innovative, functional and fashion-oriented footwear developed for both high performance outdoor activities and everyday casual lifestyle use.
The Company's products are offered under the Teva, Simple and UGG brand names, which are also its registered trademarks.
Deckers Outdoor Corporation
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