NEW YORK (TheStreet) -- Shares of Deckers Brands (DECK) - Get Report were declining in after-hours trading on Thursday after the company reported soft revenue for the 2017 fiscal second quarter and cut its full-year guidance.
After today's closing bell, the owner of UGG and Teva brands reported revenue of $485.9 million, below analysts' expectations of $495.7 million. But adjusted earnings of $1.23 per diluted share topped analysts' forecasts of $1.20 per share.
"Despite a challenging consumer environment, we delivered earnings per share results that were higher than last year and at the top end of our expectations," CEO Dave Powers said in a statement.
During the quarter, UGG brand net sales fell 2.1% to $412.2 million year-over-year. The decline was driven by lower European sales due to delayed shipments now deferred to the third quarter, the company said.
Teva brand net sales dropped 4.2% to $17.1 million from last year, while Sanuk brand net sales rose 9.2% to $18.9 million from a year ago.
For fiscal 2017, Deckers now sees earnings per diluted share between $4.05 and $4.25 compared to its prior view of $4.05 to $4.40 per share, the Fly noted. Analysts are expecting full-year earnings of $4.24 per share, according to FactSet.
The company also forecasts revenue declining between 1.5% and 3% for the full year.
Third-quarter earnings per share are projected to be between $4.16 and $4.28, while analysts surveyed by FactSet are looking for earnings of $4.56 per share.
More than 2.08 million of the company's shares traded today vs. its average 30-day volume of 658,886 shares.