Deckers Rallies On Upbeat Results

(RTTNews) - Shares of Deckers Outdoor Corporation (DECK) are rising more than 17% Friday morning after reporting better-than-expected fourth-quarter results.

Deckers designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities.

Net income in the fourth quarter increased more than 100% to $68.82 million or $2.51 per share from $33.46 million or $1.18 per share a year ago, significantly higher than the consensus estimate of analysts poled by Thomson Reuters of $1.32 per share.

Sales for the quarter increased 31.2% to $736.01 million from $561.19 million last year.

For the full year, net sales are expected to be in the range of $3.45 billion to $3.50 billion. Earnings per share is expected between $17.40 and $18.25.

Analysts expect the company to report earnings of $18.34 per share on revenue of $3.45 billion for the year.

DECK is at $266.39 currently. It has traded in the range of $212.93-$451.49 in the past 52 weeks.