GOLETA, Calif.—Footwear maker Deckers Outdoor Corp. said Tuesday its bought casual footwear company Tsubo LLC for about $6 million in cash.
The company said the purchase price does not include a potential future earn-out. Deckers said it does not expect the acquisition to affect its profit outlook for the year.
Deckers expects profit to rise 27 percent in 2008, implying earnings of $6.43 per share for the year. The outlook matches estimates given by Wall Street analysts, according to a poll by Thomson Financial.
The company added the deal was funded with existing cash balances.
Deckers said Tsubo, which makes boots, sandals and heels, reported sales of about $10 million in 2007.
Deckers shares rose $2.81, or 2 percent, to $142.66.
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