Key Developments For Deckers Outdoor Corp
Deckers Outdoor Corp (DECK.O) (Nasdaq)
Deckers Outdoor Corporation Raises Q4, FY 2009 Outlook
Deckers Outdoor Corporation raised fiscal 2009 outlook for revenue to increase approximately 13% over fiscal 2008, compared to previous guidance of approximately 9% to 10% and non-GAAP diluted earnings per share (EPS) to increase approximately 9% over the $7.27 non-GAAP diluted EPS in fiscal 2008. This compares to its previous expectation for non-GAAP diluted EPS to be flat to up slightly. The Company currently expects fourth quarter 2009 revenue to increase approximately 4% and non-GAAP diluted EPS to increase approximately 5% from fiscal 2008 levels, which excludes pre-tax, non-cash impairment charges of $20.9 million for the fourth quarter of 2008. This is up from its previous revenue expectations of a slight decrease and non-GAAP diluted EPS expectations of an approximate 4% decrease. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $7.36 on revenue of $769 million for fiscal 2009; EPS of $3.91 on revenue of $294 million for the fourth quarter of 2009.
Deckers Outdoor Corporation Announces New Chief Financial Officer
Deckers Outdoor Corporation announced that the appointment of Thomas A. George as Chief Financial Officer, effective September 11, 2009.
Deckers Outdoor Corporation Raises FY 2009 Revenue Outlook; Reaffirms FY 2009 EPS Outlook; Issues Q3 Outlook Above Analysts' Estimates; Issues Q4 2009 Outlook Below Analysts' Estimates
Deckers Outdoor Corporation raised its fiscal 2009 revenue outlook and now expects to increase approximately 9% to 10% over fiscal 2008, compared to previous guidance of approximately 7% to 9%. The Company reiterated its previous outlook for fiscal 2009 non-GAAP diluted earnings per share (EPS) to be flat to up slightly over the $7.27 non-GAAP diluted EPS in fiscal 2008, which excludes pre-tax impairment charges of $1.0 million for fiscal 2009 and $35.8 million for fiscal 2008. The Company reported revenue of $689.45 million in fiscal 2008. For the third quarter of 2009, the Company expects revenue and diluted EPS to increase approximately 14.0% and 10.0%, respectively, over fiscal 2008 levels. The Company reported EPS of $1.97 and revenue of $197.29 million in the third quarter of 2008. For the fourth quarter of 2009, it expects revenue to decrease slightly and non-GAAP diluted EPS to decrease approximately 4% from fiscal 2008 levels, which excludes pre-tax impairment charges of $20.9 million for the fourth quarter of 2008. The Company reported EPS of $4.05 on revenue of $303.51 million in the fourth quarter of 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $7.28 for fiscal 2009; EPS of $2.11 on revenue of $210 million for the third quarter of 2009; EPS of $4.32 on revenue of $321 million for the fourth quarter of 2009.
Deckers Outdoor Corporation Announces Stock Repurchase Program
Deckers Outdoor Corporation announced the Board`s approval to repurchase up to $50 million of the Company's common stock in the open market or in privately negotiated transactions. The purchases will be funded from available working capital.
Deckers Outdoor Corporation Raises Low End Of Prior FY 2009 Revenue Guidance To A Range In Line With Analysts' Estimates; Raises FY 2009 EPS Guidance; Issues Q2 2009 Guidance Below Analysts' Estimates
Deckers Outdoor Corporation adjusted fiscal 2009 revenue outlook. The Company now expects its fiscal 2009 revenue to increase approximately 7%-9% over fiscal 2008, compared to previous guidance of approximately 6%-9%. The Company now expects its fiscal 2009 diluted earnings per share (EPS) to be flat to up slightly over the $7.27 non-GAAP diluted EPS in 2008, which excluded pre-tax impairment charges of $35.8 million as discussed in its related earnings release, compared to previous guidance of flat to down slightly. This guidance assumes a gross profit margin of approximately 45% and SG&A as a percentage of sales of approximately 25%. For second quarter of 2009, it expects revenue to increase approximately 10% over 2008 levels. The Company currently expects to report a diluted loss per share of approximately ($0.15) to ($0.10) for the second quarter 2009. The Company reported revenues of $91.12 million in second quarter of 2008; revenues of $689.45 million in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $748 million and EPS of $7.09 for fiscal 2009; revenues of $103.86 million and EPS of $0.26 for second quarter of 2009.
