Deckers Outdoor Corp. (DECK: Quote), a maker of innovative footwear and apparel, Thursday reported third-quarter net income of $33 million or $0.95 per share, compared with $43 million or $1.18 per share last year.
Revenues for the quarter rose 2.7% to $386.7 million from $376.4 million last year.
Analysts polled by Thomson Reuters estimated earnings of $0.72 per share on revenues of $385.95 million for the quarter. Analysts' estimates typically exclude special items.
Results were mainly impacted by an increase in selling and other expenses to $120 million from $100 million a year ago.
Looking ahead to the fourth quarter, the company now expects earnings per share to increase about 32% over 2012 levels, compared to its previous projection of about 38%. Revenues are still expected to increase about 14.5% over 2012 levels.
For fiscal year 2013, the company now expects earnings per share to increase about 10% over 2012 levels, up from its previous projection of about 8%. Revenues are still estimated to grow about 8% over 2012 levels.
by RTT Staff Writer
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