Deckers Outdoor Corp (
DECK) recently announced its fourth earnings surprise in the past 4 quarters. The Global demand for the company's footwear drove sales up 52.5% year-over-year.
Deckers Outdoor designs, manufactures, and markets innovative, function-oriented footwear and apparel that have been developed for high-performance outdoor, sports and other lifestyle related activities, as well as for casual use. the company's brand include UGG, Teva, and Simple.
Another Earnings Surprise
On Oct 23 Deckers announced third-quarter results including net sales of $197 million, up 52.5% in the same quarter last year. International sales surged 147% to $35 million, while domestic sales rose 41% to $162 million.
Earnings per share were $1.97, a 34% increase since last year and 15 cents higher than the consensus estimate. For the past 4 quarters, the company is averaging a 26% earnings surprise.
Increasing Guidance
The company not expects annual revenues to be up 52%, the previous forecast was a 43% increase. Earnings per share for 2008 are expected to be 40% higher than last year, up from earlier estimates of a 34% increase.
Impressive Growth Rates
Analysts estimates for current year earnings are averaging $6.92 per share, a 37% growth rate. The consensus for next year is calling for a 19% increase, to $8.20 per share. Share remain fairly priced with a PEG ratio of 0.6.
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