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Deckers' shares soar after beating expectations

GOLETA, Calif. (AP) -- NEWS: Deckers Outdoor Corp. said Thursday that its third-quarter profit dropped, but Wall Street expected even worse and shares jumped.

DETAILS: The company, based in Goleta, Calif., said last year's acquisition of the Hoka One One brand gave sales a boost. Sales for the Ugg brand rose 1.3 percent, helped by the launch of the company's new websites and new store openings.

NUMBERS: The company earned $33.1 million, or 95 cents per share, for the July-September period. That's compared with $43.1 million, or $1.18 per share, in the same period last year. Analysts polled by FactSet on average expected profit of 72 cents per share.

Revenue rose 3 percent to $386.7 million, close to the $386 million Wall Street predicted.

FUTURE: Deckers said it now expects earnings per share to rise 32 percent in the fourth quarter, compared with the previous guidance of 38 percent. Analysts predicted a 40 percent increase.

Revenue for the period is still expected to rise about 14.5 percent.

STOCK: The stock gained 13 percent to $65.90 in after-hours trading.