Deckers Outdoor (NYSE: DECK) reported Q4 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $378.6 million versus the consensus estimate of $362.08 million.

Dave Powers will succeed Angel Martinez as Chief Executive Officer of Deckers Brands following Mr. Martinez’s retirement, effective May 31, 2016. Mr. Martinez will continue to serve as Chairman of the Company’s board of directors.

“Our stronger than expected fourth quarter Non-GAAP operating results are very encouraging given the current market environment,” commented Angel Martinez, Chief Executive Officer and Chair of the Board of Directors. “Looking back on the year, our performance was challenged by record warm weather across the globe and store traffic declines across retail. 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.”

GUIDANCE:

Deckers Outdoor sees Q1 2017 EPS of ($2.10)-($2.20), versus the consensus of ($1.47).

Deckers Outdoor sees FY2017 EPS of $4.05-$4.40, versus the consensus of $4.50.

Full Year Fiscal 2017 Outlook for the Twelve Month Period Ending March 31, 2017

• The Company expects fiscal 2017 net sales to be in the range of down (3)% to flat.
• Gross margin for fiscal 2017 is expected to be in the range 47.0% to 47.5%.
• SG&A expenses as a percentage of sales are projected to be approximately 37%.
• The Company expects fiscal 2017 diluted earnings per share to be in the range of $4.05 to $4.40. This excludes any pretax charges that may occur from any further restructuring charges, which are expected to be in the range of $10-$15 million in fiscal year 2017.

First Quarter Fiscal 2017 Outlook for the Three Month Period Ending June 30, 2016

• The Company expects first quarter fiscal 2017 net sales to be down (20)% to (25)%. The Company expects a diluted loss per share of approximately $(2.10) to $(2.20) compared to a diluted loss per share of $(1.43) for the same period last year. The decline in net sales in the first quarter is primarily due to the timing of order shipments between quarters.
• As a reminder, a significant amount of our operating expenses are fixed and spread evenly on an absolute dollar basis throughout each quarter. We expect the majority of our earnings increase in fiscal 2017 to come in the third and fourth quarters.

For earnings history and earnings-related data on Deckers Outdoor (DECK) click here.