Ugg contributes to positive Q3 for Deckers Outdoor
Deckers Outdoor Corporation has announced financial results for the third quarter and nine months ended September 30, 2005. Net sales increased 24% to $69.2 million compared with $55.8 million in the same period last year, and net earnings for the quarter increased 40% to $8.2 million, compared with $5.8 million for the third quarter of last year.
For the nine months ended September 30, 2005, net sales increased 23.6% to $173.8 million compared with $140.6 million in the corresponding period last year. Net earnings for the first nine months of fiscal 2005 increased 21.3% to $19.8 million, compared with $16.3 million in the same period last year.
"Our strong third quarter results were primarily driven by robust sales of UGG footwear, coupled with a significant gross margin improvement and control of operating expenses which allowed us to expand our operating margin by 350 basis points," Mr. Angel Martinez, president and CEO stated.
Ugg sales increased 46.2% to $57.3 million for the third quarter compared with $39.2 million for the same period last year, while Teva sales for the third quarter were $9.7 million compared with $11.9 million, a decrease of 18.4%.
