NEW YORK (TheStreet) -- Shares of Deckers Outdoor (DECK) - Get Report are falling by 7.09% to $45.76 in after-hours trading on Thursday, after the Goleta, CA-based company reported strong results for the 2016 fiscal fourth quarter, but provided a downbeat forecast for fiscal 2017.
After the market close, the owner of UGG, Teva and Sanuk said it expects earnings per diluted share between $4.05 and $4.40 for fiscal 2017.
Analysts are modeling earnings of $4.59 per share for the full year.
Deckers also sees net sales in fiscal 2017 in the range of down 3% to flat.
For the fourth quarter, the company posted earnings of 11 cents per diluted share, topping analysts' estimates of 6 cents per share.
Revenue rose 11.2% to $378.6 million from last year and was above Wall Street's expectations of $362.1 million.
"Our performance was challenged by record warm weather across the globe and store traffic declines across retail," CEO Angel Martinez said in a statement.
"While these issues have created lingering headwinds for the industry, I am confident that Deckers is well positioned to increase long-term shareholder value with the new leadership team in place, our robust Omni-Channel capabilities and strong brand portfolio," Martinez added.
About 1.79 million of the company's shares changed hands today vs. its average volume of 566,595 shares per day.