http://www.StockMarketFunding.com Deckers Outdoor Earnings Stock Drops in After Hours Trading. In this live after-hours trading video, we'll cover the big dr...
SMF Notes DECK Deckers Outdoor beats by $0.05, beats on revs; issues downside guidance (90.21 +1.76)
Reports Q4 (Dec) earnings of $3.18 per share, $0.05 better than the Capital IQ Consensus Estimate of $3.13; revenues rose 40.4% year/year to $603.9 mln vs the $562.47 mln consensus. Co issues downside guidance for Q1, sees EPS of down 50% (calc to ~$0.25), includes items, vs. $0.64 Capital IQ Consensus Estimate; sees Q1 revs of +19% (~$243.8 mln vs. $263.71 mln Capital IQ Consensus Estimate). The Q1 includes estimates of ~$3.5 million, or $0.06 per diluted share, associated with the amortization and accretion expenses related to the Sanuk acquisition. The Q1 guidance assumes a gross profit margin of ~48% and SG&A as a percentage of sales of ~43%. Co issues downside guidance for FY12, sees EPS of flat (~$5.07 vs. $5.84 Capital IQ Consensus Estimate); sees FY12 revs of +15% (~$1.58 bln) vs. $1.6 bln Capital IQ Consensus Estimate. The FY EPS guidance is due primarily to the increase in sheepskin costs in 2012 compared to 2011, which co projects to adversely impact profitability by ~$1.40 per diluted share. This guidance assumes a gross profit margin decline of 200 basis points from 2011 levels due to an increase in costs of goods sold, partially offset by selective price increases, an increased contribution from retail sales, and the addition of the Sanuk brand for the full year. This guidance also assumes SG&A as a percentage of sales of ~29%. Fiscal 2012 guidance assumes ~$13 million, or $0.23 per diluted share, associated with the amortization and accretion expenses related to the Sanuk acquisition.