Deckers Outdoor Corp (NYSE:DECK) reported its latest quarterly earnings results after the bell Thursday, which came in well ahead of Wall Street’s consensus estimate.
The footwear designer and distribution unveiled earnings of $20.62 million for its fourth quarter of fiscal 2018, which topped the company’s earnings of $15.70 million from the year-ago quarter. The figure amounted to 66 cents per share, compared to the 49 cents per share it brought in during the fourth quarter of fiscal 2017.
On an adjusted basis, the company posted earnings of $15.70 million, or 50 cents per share, ahead of the 19 cents per share that analysts were calling for. Deckers Outdoor’s revenue was $400.69 million for the period, a 6.6% increase on a constant currency basis from the $369.47 million from the year-ago period.
The company’s UGG brand saw a 6% surge in its sales, while its Teva brand had a good period, experiencing a 7.3% growth. Deckers Outdoor’s gross margin improved by 220 bps to amount to 48.9% of sales off the extra leverage.
Its DTC net sales were up by 18.1% to $177.6 million. For its first quarter of fiscal 2019, Deckers Outdoors predicts earnings in the range of a loss of $1.50 per share to a loss of $1.41 per share, while revenue is slated to be between $225 million to $235 million.
For fiscal 2019, it sees its net sales as being in the range of $1.93 billion to $1.95 billion, while earnings are slated to be between $6.20 to $6.40 per share. Wall Street projects earnings of $6.02 per share.
DECK stock was up about 4.3% after hours on the company’s earnings beat.