Deckers believes that based on the heightened demand for the Company's Ugg product line it is raising its fiscal 2004 sales guidance to a range of $133 million to $140 million versus its previous guidance of $126 million to $132 million.
The Company currently expects 2004 sales of its Teva product line to be approximately $82 million to $84 million, Simple to be approximately $9 million to $11 million and Ugg to be approximately $42 million to $45 million, including both wholesale sales and the sales of its internet and catalog retail business.
As a result, it is also raising its fiscal 2004 diluted earnings per share estimate to a range of $1.02 to $1.06, versus its previous guidance of $0.92 to $0.96, and compared to the current analyst consensus estimate of $0.96. The Company believes that given the nature of the products which are subject to the increased demand combined with the short term production capacity constraints, the vast majority of the increased business is expected to occur in the second, third and fourth quarters of 2004.
