Deckers Q4 sales up 2.2 percent

Deckers has announced full year and fourth quarter financial results for the year ending

December 30, 2012. For the fourth quarter sales of Deckers increased 2.2 percent. Fiscal 2012 sales increased 2.7 percent. For the full year 2013 the company expects revenues to increase, but will remain flat in the first quarter.

For the fourth quarter, net sales of Deckers Outdoor Corporation increased 2.2 percent to a record 617.3 million dollars (Rs 3, 358 crores) compared to 603.9 million dollars (Rs 3,285 crores) for the same period last year. Gross margin was 46.3 percent compared to 51 percent for the same period last year. Diluted earnings per share were 2.77 dollars (Rs 150.6) compared to 3.18 dollars (Rs 172.9) for the same period last year. Retail sales increased 37.1 percent compared to the same period last year; same store sales decreased 3.4 percent for the fourth quarter ending December 30, 2012 compared to the fourth quarter ending January 1, 2012.

For the full year 2013, the company expects revenues to increase approximately 7 percent over 2012 levels and first quarter 2013 revenues to remain flat as compared to first quarter 2012 levels. For the full year, net sales increased 2.7 percent to a record 1.414 billion dollars Rs 7, 692 crores) compared to 1.377 billion dollars (Rs 7,490 crores) last year. Gross margin was 44.7 percent compared to 49.3 percent last year. Diluted earnings per share were 3.45 dollars (Rs 187.6) compared to 5.07 dollars (Rs 275.8) last year.

Deckers is based in California. “Our fourth quarter retail store performance improved versus third quarter trends, while at the same time, weekly sell-through in our domestic wholesale channel accelerated as the fourth quarter progressed culminating in a period of robust full-price selling in late December 2012,” said Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors.

For the full year 2013, the company expects revenues to increase approximately 7 percent over 2012 levels. The company expects full year diluted earnings per share to increase approximately 5 percent over 2012 levels. The company expects first quarter 2013 revenues to remain flat as compared to first quarter 2012 levels.