WASHINGTON (dpa-AFX) - Shares of Deckers Outdoor Corp. (DECK) gained over 6% in after hours trading Thursday after the footwear retailer's profit and revenues for the fourth quarter trumped Wall Street estimates.
Net income for the fourth quarter rose to $33.5 million or $1.18 per share, up from $16.1 million or $0.57 per share last year.
Net sales for the fourth quarter increased 49.7% to $561.2 million from $374.9 million last year. On a constant currency basis, net sales increased 47.9%.
Analysts polled by Thomson Reuters expected earnings of $0.64 per share on revenues of $437.09 million for the quarter. Analysts' estimates typically exclude one-time items.
Looking forward to the full year 2022, the company expects earnings of $14.05 to $14.65 per share on sales of $2.950 billion to $3.000 billion. Analysts currently estimate earnings of $14.50 per share on revenues of $2.70 billion.
DECK closed Thursday's trading at $311.22, down $11.94 or 3.69%, on the Nasdaq. The stock, however, gained $18.78 or 6.03%, in the after-hours trade.
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