Analyst Vera Van Ert says the new guidance reflects outperformance in all three geographic regions, and faster-than-expected integration of DC Shoe, which it acquired earlier this year. She believes the company's impressive top- and bottom-line growth rates, and improving margins could drive higher stock price over the next 12 months.
Van Ert also cites the company's reputation for earnings consistency. She raises the company's $1.32 fiscal 2004 (Oct.) earnings-per-share estimate to $1.36, and $1.60 fiscal 2005 earnings-per-share estimate to $1.63. She boosts her $1.24 billion fiscal 2004 revenue estimate to $1.27 billion, and $1.40 bilion fiscal 2005 revenue estimate to $1.42 billion. She ups the company's $32 target to $33.