Deckers’ Sales Up 23%; Earnings More Than Double

Though other Southern California shoe companies are seeing sales slide, tiny Deckers Outdoor Corp. of Goleta is posting financial results that are anything but ugly.

The maker of the popular Ugg brand sheepskin-lined shoes and boots, as well as the Teva sport sandal and Simple casual footwear, is about to crack the $100-million annual sales mark.

On Thursday, Deckers said that fourth-quarter earnings more than doubled to $1.4 million, or 13 cents a share, from $506,000, or 5 cents, a year ago.

Paced by a 24% jump in Ugg sales, Deckers’ revenue rose 23% to $25.8 million compared with $20.9 million last year.

“This was a very good quarter for Deckers,” said Mitch Kummetz, an analyst at Wedbush Morgan Securities in Los Angeles. “Things are going well for all of their brands.”

Deckers shares rose 44 cents, or 9.8%, to close at $4.94 on Nasdaq after the announcement.

Although it is among the smallest of the publicly traded shoe companies in Southern California, Deckers’ niche approach to the shoe business has helped it avoid the consumer fashion fickleness that has plagued businesses such as Santa Fe Springs-based athletic footwear maker Vans Inc. and Skechers USA Inc. of Manhattan Beach.

For all of 2002, sales rose 8% to $99.1 million. Deckers expects to pass the $100-million mark in sales this year, said Scott Ash, chief financial officer.

The company’s annual earnings, however, were level at $1.6 million.