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UGG Brand performs better than expected

01 Mar '08
3 min read

• Total international sales increased 62.6% to $62.3 million compared to $38.3 million last year.
• Cash, cash equivalents and short-term investments increased to $168.1 million compared to $98.9 million a year ago.

Angel Martinez, President and Chief Executive Officer, stated, "Our record fourth quarter results, which underscore the growing popularity of the UGG Brand worldwide, represent a great way to end another strong year for Deckers. During fiscal 2007 we significantly increased sales and diluted earnings per share, consistently exceeded internal and external expectations, and ended the year with more than $168 million in cash, cash equivalents and short-term investments on our balance sheet.

From a strategic standpoint, we further diversified the UGG Brand and expanded its selling season year round, repositioned the Teva Brand as an outdoor, performance-oriented brand, and leveraged the Simple Brand's position as the leader in sustainable footwear into broader market opportunities.

In addition, we expanded our international presence and grew our Consumer Direct business by opening two new retail stores and enhancing our websites. Looking ahead, we believe our growth prospects have never been more compelling, and we are confident that we will continue to take the right approach toward achieving our long-term objectives and creating value for our shareholders."

Division Summary:
UGG:
UGG Brand net sales for the fourthquarter increased 61.8% to $177.7 million versus $109.9 million for the same period a year ago. Consumer demand for the entire women's fall line, including boots, slippers, casuals and the fashion collection, contributed to the UGG Brand's better than expected performance. In addition, the expanded men's and kids' offerings performed very well. For the full year, UGG Brand sales increased 64.4% to a record $347.6 million versus $211.5 million in 2006.

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Deckers Outdoor Corporation

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