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Business

Deckers Outdoor Corp. Reports 34% Hike in Earnings for 2010

The Goleta-based company will release its first-quarter earnings on Wednesday

Deckers Outdoor Corp. of Goleta earned $160.4 million last year, a 34.3 percent increase over 2009.

The growing UGG Australia brand company will report its first-quarter fiscal 2011 earnings Wednesday.

Chairman Doug Otto, a former UCSB student, began producing sandals in 1973 and has grown the company into a leading global entity with locations on three continents and six footwear brands. The company topped $1 billion in sales in 2010, up 23.1 percent from 2009. CEO Angel Martinez took over as president in 2005.

“Our outstanding fourth-quarter performance demonstrated the continuing strength of the UGG brand across all channels and markets and helped push our annual sales beyond the $1 billion mark,” Martinez said in a statement.

Record UGG and Teva sales were influenced by Deckers’ most complete product line with several new styles and collections, Martinez said. Business expanded in terms of distribution, seasonality and geographies, trends he said he expects to continue throughout 2011.

“This year will be an investment year for Deckers as we strengthen the foundation for future long-term growth,” he said. “While these distribution enhancements and additional expenditures will have a near-term impact on our earnings, we are confident we can deliver strong sales growth, improved margins and greater expense leverage in the years ahead.”

The company expects a 29 percent increase in first-quarter sales in comparison to 2010’s numbers. The full-year revenue growth target is set at about 20 percent over 2010.

Deckers reported that its net sales for the fourth-quarter 2010 increased 23.6 percent to $430.1 million compared with $348.0 million last year. The sales spike was largely due to UGG brand sales with inventory increasing from $24.7 million to $94.7 million by the end of 2010. UGG net sales for the fourth quarter increased 23.8 percent to a record $412.8 million compared with $333.3 million for the same period last year. Retail and e-commerce sales both saw drastic increases in the fourth quarter at 55.4 percent and 29.8 percent, respectively.

In the past 52 weeks, the company’s stock has been trading in the range of $40.76 to $94.70.

Noozhawk staff writer Alex Kacik can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Become a fan of Noozhawk on Facebook.

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