Trendy footwear firm Deckers Outdoor Corp on Thursday posted a sharp rise in fourth quarter net income on the back of higher sales and its acquisition of the global rights to its flagship sandal brand Teva.

The California-based company, whose brands also include Ugg, reported net income of $1.3 million versus $506,000 in the year prior with sales up 23 per cent to a record $25.8m from $20.9m.

For fiscal 2002, net income climbed to $2.9m from $1.6m with net sales up eight per cent to $99.1m from $91.5m.

Teva sales for the year were $65.1m compared to $61.2m while Ugg sales for the year increased 24 per cent to a record $23.8m from $19.2m. Simple sales fell to $10.2m from $10.9m in the year-ago period.

Chairman and CEO, Douglas Otto, said: "Our strong fourth quarter performance was a great finish to a very important year for our company. Our ability to significantly exceed top and bottom line expectations was primarily a function of strong demand for our Ugg and Teva lines, incremental earnings provided by the Teva acquisition and improved operating efficiencies.

"In fiscal 2002, we acquired the Teva brand and took a number of steps to improve our operations and truly set the stage for the future. We move forward with a strong portfolio of lifestyle niche brands and a heightened sense of enthusiasm about our business."