USA: Deckers Reports Third Quarter Financial Results

Deckers Outdoor Corporation today announced that net sales increased to $19m versus $18.2m in the same period last year. Net loss for the quarter was $395,000 or ($0.04) per diluted share, compared to a net loss of $1,275,000, or ($0.14) per diluted share in the third quarter of 1999. For the nine months ended September 30, 2000, net sales increased to $88.9m versus $87.6m in the same period last year. Net earnings for the first nine months of fiscal 2000 rose 136 per cent to $6.2m, compared to net earnings of $2.6m last year, and fully-diluted earnings per share increased 120 per cent to $0.66 versus fully-diluted earnings per share of $0.30 in the first nine months of fiscal 1999. Douglas Otto, chairman & CEO said: "We are pleased to report our seventh consecutive quarter of year-over-year earnings improvement, which once again exceeded analyst expectations. Our improved results were fueled primarily by significant gross margin expansion, increased operating efficiencies and strong sales of our new Street Collection of our UGG line."