Deckers Brands Q3 Profit Misses Estimates; Lowers Guidance - Quick Facts

(RTTNews) - Deckers Brands (DECK) reported third-quarter net income of $156.71 million or $4.50 per share, compared to $140.90 million or $4.04 per share, prior year.

On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $4.52 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $784.68 million from $736.05 million last year. Analysts expected revenue of $813.70 million for the quarter.

The company now expects fiscal 2015 revenues to be approximately $1.8 billion or 13.5% over the twelve month period ended March 31, 2014, down from the previous guidance of approximately $1.825 billion or 15%. The company now expects fiscal 2015 earnings per share to be approximately $4.58 or an increase of 12.6% over the twelve month period ended March 31, 2014, compared to the previous guidance for growth of approximately 15.8%. Analysts expect the company to report fiscal year earnings per share of $4.77 on revenue of $1.83 billion.

The company still expects fourth quarter revenues to increase approximately 10% over the three month period ended March 31, 2014. The company now expects to break even for fourth quarter fiscal year 2015, down from previous earnings per share guidance of $0.15, driven mostly by gross margin pressure from foreign currency exchange rates. Analysts expect the company to report fourth-quarter earnings per share of $0.13.