for 1.35B in revenues and 155M in income, with income hitting 199 for full year 2011 before sheepskin started biting out profits. But now 2.25 years later, the company has 240M more in revnues and projecting even more growth. Sheepskin has gone down 18%, company has bought back 12% of itself, and ugg pure becoming a factor in mitigating costs. Clearly, FAD concerns are ridiculous as company has grown the last two years, not declined.
Market needs to fix its mistake in valuation. Should be around 5.5B for fair value for full year 2014 results.