Deckers Outdoor Corp. (DECK) reported that its first-quarter net income plunged to $1.0 million from $7.8 million in the year ago quarter. Earnings per share dropped to $0.03 from $0.20 in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report a loss of of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.
The latest quarter results reflect higher sales costs and S,G & A or selling, general and administrative expenses from the year-ago period.
Meanwhile, net sales for the quarter rose to 8 percent to $263.76 million, from $246.30 million for the same period last year. Fourteen analysts had consensus revenue estimate of $252.27 million for the quarter.
The company anticipates a per share loss in the second quarter of $1.10 per share. Analysts expect the company to report earnings of $0.94 per share on revenues of $185.10 million for the second-quarter.
The company now expects 2013 earnings per share to increase approximately 5% from 2012 levels. Analysts expect the company to report earnings of $3.68 per share on revenues of $1.51 billion for fiscal 2013.
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