This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Deckers Outdoor Corporation Reports Third Quarter 2012 Financial Results

Stocks in this article: DECK


Sales for the eCommerce business, which are included in the brand sales numbers above, increased 29.3% to $13.3 million for the third quarter compared to $10.3 million for the same period last year. The sales increase was driven primarily by strong performance of the Sanuk brand, increased global sales for UGG brand fall styles plus the addition of new international eCommerce websites.

Stock Repurchase Program

During the third quarter of 2012, the Company repurchased approximately 1,833,000 shares of its common stock under its stock repurchase program for a total of $84.7 million. This brings the Company’s total stock repurchases over the past year to $184.7 million. As of September 30, 2012, the Company had $115.3 million authorized repurchase funds remaining under its $200.0 million stock repurchase program announced in July 2012. Depending on market conditions and other factors, such repurchases may be commenced or suspended at any time without prior notice.

Balance Sheet

At September 30, 2012, cash and cash equivalents were $61.6 million compared to $90.4 million at September 30, 2011. At September 30, 2012, the Company had $275.0 million in outstanding borrowings under its credit facility compared to $45.0 million at September 30, 2011. The decrease in cash and cash equivalents and the increase in outstanding borrowings are primarily attributable to $184.7 million of cash payments for stock repurchases and $76.1 million of cash payments for capital assets, which includes $28.6 million for retail expansion, $27.9 million for the new headquarters facility, $12.0 million for IT infrastructure, and $7.6 million for other capital expenditures.

Inventories at September 30, 2012 increased 36.2% to $486.2 million from $356.9 million at September 30, 2011. By brand, UGG inventory increased $127.8 million to $451.8 million at September 30, 2012, Teva inventory increased $2.2 million to $19.1 million at September 30, 2012, Sanuk inventory decreased $0.6 million to $8.6 million at September 30, 2012, and the other brands’ inventory decreased $0.1 million to $6.7 million at September 30, 2012.

3 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs