By late morning Friday, shares had tumbled 14.5% to $72.44.
For the first quarter ending March, the footwear company expects revenues to grow 6% from the year-ago quarter, assuming total sales of $279.58 million. Analysts surveyed by Thomson Reuters had expected revenue of $285.63 million.
Management guided for a quarterly net loss of 16 cents a share from a profit of 3 cents a share a year earlier. Analysts had forecast a loss of 2 cents a share.
"A significant amount of our operating expenses are fixed and spread evenly on an absolute dollar basis throughout each quarter," the company said in a statement.
"Therefore, we expect our earnings to decline in the first half of 2014 as compared to the first half of 2013, which are typically our lowest volume sales quarters, and increase over 2013 in the back half of the calendar year."
For the year ending Dec. 31, the UGG owner said it expects revenue to increase around 10%, assuming total sales of $1.71 billion. Diluted earnings growth of 8% is forecast, assuming earnings per share of $4.51.
Analysts had forecast fiscal 2014 earnings of $4.54 a share and revenue in line with guidance.
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TheStreet Ratings team rates DECKERS OUTDOOR CORP as a Buy with a ratings score of B-. The team has this to say about their recommendation: