Key Developments: Deckers Outdoor Corp (DECK.O)
53.03USD
1 Jun 2012
$-2.64 (-4.74%)
$55.67
$54.00
$54.78
$52.80
1,345,041
1,283,032
$118.90
$50.18
Latest Key Developments
Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Deckers Outdoor Corporation
Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Deckers Outdoor Corporation common stock during the period between October 27, 2011 and April 26, 2012. The complaint charges Deckers and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Deckers is a designer, producer, marketer, and brand manager of footwear, apparel and accessories.The complaint alleges that during the Class Period, defendants issued materially false and misleading statements concerning the Company`s financial condition and future business prospects. More specifically, defendants misrepresented and omitted material facts concerning demand for the Company`s UGG brand, which is critical to its success. During the Class Period, the Company`s expansion and distribution created a circumstance UGG supply met demand for the first time. As new product lines faltered and the Company continued raising prices on its classic UGG products, inventories swelled to extremely high levels, requiring the Company and its retailers to use previously unheard of mark down and close-out pricing to move UGG products. As a result of defendants` false statements which hid these adverse trends from the market, Deckers common stock traded at artificially inflated prices during the Class Period, reaching a high of $117.66 per share on October 28, 2011. Full Article
Deckers Outdoor Corporation Issues Q2 2012 Guidance Below Analysts' Estimates; Lowers FY 2012 Guidance
Deckers Outdoor Corporation announced that for second quarter of 2012, it expects revenue to increase approximately 8% over fiscal 2011. The Company expects second quarter 2012 diluted loss per share of approximately $(0.60) compared to the diluted loss per share of $(0.19) reported in the second quarter of 2011. For fiscal 2012, it expects sales to increase approximately 14% over fiscal 2011, compared to previous guidance of approximately 15%.The Company now expects fiscal 2012 diluted earnings per share (EPS) to decrease approximately 9% to 10% from fiscal 2011, compared to previous guidance for diluted earnings per share to be approximately flat year over year. The Company reported revenue of $154.22 million in second quarter of 2011 and revenues of $1.377 billion and EPS of $5.07 in fiscal 2011. According to I/B/E/S estimates analysts are expecting the Company to report revenue of $186 million and EPS of $(0.39) for second quarter of 2012; revenue of $1.59 billion and EPS of $5.16 for fiscal 2012. Full Article
Deckers Outdoor Corporation Announces Settlement With Romeo & Juliette, Inc.
Deckers Outdoor Corporation and Romeo & Juliette, Inc. and Tom Romeo jointly announced that they have reached a settlement in Deckers Outdoor Corporation v. Tom Romeo and Romeo & Juliette, Inc. The litigation was resolved to the parties’ mutual satisfaction, by mutual agreement. Full Article
Deckers Outdoor Corporation Issues FY 2012 Guidance In Linlie With Analysts' Estimates; Issues Q1 2012 Guidance EPS Guidance Below Analysts' Estimates
Deckers Outdoor Corporation announced that for fiscal 2012, it expects revenues to increase approximately 15% over 2011 levels and expects diluted earnings per share (EPS) to be approximately flat with 2011 levels due primarily to the increase in sheepskin costs in 2012 compared to 2011, which the Company projects to adversely impact profitability by approximately $1.40 per diluted share. Fiscal 2012 guidance assumes approximately $13 million, or $0.23 per diluted share, associated with the amortization and accretion expenses related to the Sanuk acquisition. For the first quarter of 2012, it expects revenue to increase approximately 19% over 2011 and expects diluted earnings per share to be down approximately 50% compared to 2011. First quarter guidance includes estimates of approximately $3.5 million, or $0.06 per diluted share, associated with the amortization and accretion expenses related to the Sanuk acquisition. The Company reported revenues of $1.377 billion and EPS of $5.07 in fiscal 2011 and revenues of $205 million, EPS of $0.49 in the first quarter of 2011. According to I/B/E/S estimates analysts are expecting the Company to report revenues of $1.595 billion and EPS of $5.36 for fiscal 2012; revenues of $252 million and EPS of $0.39 for the first quarter of 2012. Full Article
Deckers Outdoor Corporation Raises Q4, FY 2011 Guidance
Deckers Outdoor Corporation announced that for fiscal 2011, it expects revenue to increase approximately 33% over 2010 levels, compared to previous guidance of approximately 26%. Diluted Earnings Per Share (EPS) to increase approximately 22% over 2010, compared to previous guidance of approximately 17%. This guidance assumes a gross profit margin of approximately 50% and SG&A as a percentage of sales of approximately 29%. For the fourth quarter of 2011, it expects revenue to increase approximately 29% over fiscal 2010 levels, compared to previous guidance of approximately 22%, and diluted earnings per share to increase approximately 33% over fiscal 2010 levels, compared to previous guidance of approximately 36%. The fourth quarter 2011 now includes approximately $2.0 million of additional expenses that were previously budgeted for the third quarter of 2011. The Company reported revenues of $1 billion and EPS of $4.03 in fiscal 2010; revenues of $430 million and EPS of $2.27 for the fourth quarter of 2011. According to I/B/E/S estimates analysts are expecting the Company to report revenues of $ 1.287 billion for fiscal 2011; revenues of $539 million and EPS of $3.16 for the fourth quarter of 2011 Full Article
Deckers Outdoor Corporation Raises FY 2011 Guidance; Issues Q3, Q4 2011 Mixed Guidance
Deckers Outdoor Corporation raised its fiscal 2011 guidance. This guidance includes the impact of the Sanuk brand which was acquired on July 1, 2011. The Company now expects fiscal 2011 revenue to increase approximately 26% over fiscal 2010 levels, compared to previous guidance of approximately 21% and expects diluted earnings per share (EPS) to increase approximately 17% over fiscal 2010, compared to previous guidance of approximately 13%. For the third quarter of 2011, it expects revenue to increase approximately 38% and diluted earnings per share to increase approximately 22% over 2010 levels. For the fourth quarter 2011, it expects revenue to increase approximately 22% and diluted earnings per share to increase approximately 36% over 2010 levels. The Company reported EPS of $4.03 on revenues of $1.0 billion fiscal 2010, EPS of $1.07 on revenues of $277.88 million in the third quarter of 2010; EPS of $2.27 on revenues of $430.12 million in the fourth quarter of 2010. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.50 on revenues of $359.84 million for the third quarter of 2011; EPS of $2.88 on revenues of $520.91 million for the fourth quarter of 2011; EPS of $4.64 on revenues of $1.231 for fiscal 2011. Full Article
Deckers Outdoor Corporation Completes Sanuk Acquisition
Deckers Outdoor Corporation announced that on July 1, 2011 it completed its previously announced acquisition of the Sanuk brand which includes certain assets and liabilities of Sanuk U.S.A. LLC and of C. & C. Partners, LTD., the exclusive licensee for the Sanuk brand in the United States, Europe and Canada. Full Article
Deckers Outdoor Corporation Signs Definitive Agreement to Acquire the Sanuk Brand
Deckers Outdoor Corporation announced that it has signed a definitive asset purchase agreement to acquire the Sanuk brand, an innovative action sport and adventure footwear brand. The acquisition includes certain assets and liabilities of Sanuk U.S.A. LLC and of C. & C. Partners, LTD., the exclusive licensee for the Sanuk brand in the United States, Europe and Canada. The total purchase price for the assets of both companies related to the Sanuk brand is an initial payment of approximately $120 million in cash subject to certain post-closing adjustments, and includes additional participation payments based upon performance over the next five years. The combined businesses generated in excess of $43 million of unaudited net sales in 2010. Based on the expected closing in the third quarter of 2011, due to the seasonality of the business Deckers expects the acquisition of Sanuk to be modestly accretive to earnings for 2011, before transaction costs. Sanuk will remain headquartered in Orange County, California and senior management will continue to manage the brand. Full Article
Deckers Outdoor Corporation Raises FY 2011 Guidance; Issues Q2 2011 Guidance; EPS Below Analysts' Estimates
Deckers Outdoor Corporation raised fiscal 2011 guidance and expects revenue to increase approximately 21% over fiscal 2010, compared to previous guidance of approximately 20%. The Company now expects full year diluted earnings per share (EPS) to increase approximately 13% over fiscal 2010, compared to previous guidance of approximately 10%. Fiscal 2011 guidance includes estimates of approximately $29 million, or $0.50 per diluted share, pertaining to incremental investments and expenses in fiscal 2011 associated with new marketing and advertising programs. For the second quarter of 2011, it expects revenue to increase approximately 4% over 2010 levels. The Company currently expects to report a second quarter 2011 diluted loss per share of approximately $(0.25). In addition to the impact from the aforementioned revenue shift, second quarter guidance includes estimates of approximately $7.5 million, or $0.13 per diluted share. The Company reported revenues of $1 billion and EPS of $4.03 for fiscal 2010. For the second quarter of 2010 the Company reported revenues of $137 million and EPS of $0.23. According to Reuters Estimates, analysts on an average were expecting the Company to report revenues of $1.21 billion and EPS of $4.55 for fiscal 2011; revenues of $145 million and EPS of $0.05 for the second quarter of 2011. Full Article
Deckers Outdoor Corporation Issues FY 2011 Guidance Above Analysts' Estimate; Issues Q1 2011 Revenue Guidance Above Analysts' Estimate; EPS Below Analysts' Estimate
Deckers Outdoor Corporation announced that for fiscal 2011, it expects revenue growth target of approximately 20% and diluted earnings per share (EPS) to increase approximately 10% over fiscal 2010. For the first quarter of 2011, it expects revenue to increase approximately 29% over fiscal 2010, and expects diluted earnings per share to be down approximately 5% compared to fiscal 2010. The Company reported revenues of $1 billion and EPS of $4.03 for fiscal 2010. For the first quarter of 2010 the Company reported revenues of $156 million and EPS of $0.46. According to Reuters Estimates, analysts on an average were expecting the Company to report revenues of $1.12 billion and EPS of $4.23 for fiscal 2011; revenues of $185 million and EPS of $0.53 for the first quarter of 2011. Full Article
UPDATE 3-Deckers Outdoor cuts forecast as margins dip
* Sees FY EPS down 9-10 pct vs prior flat earnings outlook
Earnings vs. 
Estimates
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