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Ugg boosts Deckers' fourth quarter

Profits at Deckers Outdoor Corporation almost trebled on the back of strong sales from its Ugg brand during the fourth-quarter.

Over the fourth quarter, group income rose from $27.7million (£13.9m) to $58.7million (£29.5m). Net sales increased by 56.2% to $194.2 million (£97.8m) against $124.4m (£62.6m) last year. During the same period, Ugg sales increased by 61.8% to $177.7m (£89.5m) compared to $109.9m (£55.3m) a year ago.

Deckers president and chief executive officer Angel Martinez said the business had exceeded expectations: "Our record fourth quarter results, which underscore the growing popularity of the Ugg brand worldwide, represent a great way to end another strong year for Deckers.

"During fiscal 2007 we significantly increased sales and diluted earnings per share, consistently exceeded internal and external expectations, and ended the year with more than $168 million (£84m) in cash, cash equivalents and short-term investments on our balance sheet."

Over the last year the business further diversified the Ugg brand and expanded its selling season year round and repositioned the Teva brand as an outdoor, performance-oriented brand.

Martinez added: "Looking ahead, we believe our growth prospects have never been more compelling."
Total group US sales increased 54.9% to $177.7m (£89.5m) compared to $114.7m (£57.8m) in the prior year, and total international sales increased 71.1% to $16.5m (£8.3m) compared to $9.7m (£4.8m)last year.

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