Deckers buys Tsubo for $6 million

By Associated Press May 6, 2008 Comments (0)

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Footwear maker Deckers Outdoor Corp. said Tuesday its bought casual footwear company Tsubo LLC for about $6 million in cash.

The company said the purchase price does not include a potential future earn-out. Deckers said it does not expect the acquisition to affect its profit outlook for the year.

Deckers expects profit to rise 27 percent in 2008, implying earnings of $6.43 per share for the year. The outlook matches estimates given by Wall Street analysts, according to a poll by Thomson Financial.

The company added the deal was funded with existing cash balances.

Deckers said Tsubo, which makes boots, sandals and heels, reported sales of about $10 million in 2007.

Deckers shares rose $2.81, or 2 percent, to $142.66.

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DocumentId: 638772, ~/articles/articlehandler.aspx, 7/5/2008 6:18:54 PM, No ticker

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