Footwear firm Deckers Outdoor Corporation today reported a 212 per cent hike in second quarter net earnings, in part due to a favourable final ruling in the company's appeal against European anti-dumping duties which were levied in 1997.

Net earnings for the quarter ended 30 June 2003 increased 212 per cent to $2.006 million compared to net earnings of $642,000 last year.

Net sales rose 9 per cent to $24.3 million compared to $22.4 million in the same period last year.

For the six months ended 30 June 2003, net sales increased 9 per cent to $60.4 million compared to $55.6 million in the same period last year. Net earnings for the first half of fiscal 2003 increased 121 per cent to $6.2 million, compared to net earnings before the cumulative effect of an accounting change introduced last year.

Douglas Otto, chairman & CEO, said the company “exceeded expectations” primarily due to 15 per cent growth in sales in its Teva business.

Deckers expects 2003 Teva sales to be $70 million to $72 million, Simple sales to be $9 million to $10 million and Ugg sales to be $25 million to $26 million.