DECKERS EXHIBIT 99.1

Exhibit 99.1

Deckers Outdoor Corporation Reports First Quarter Results;
Reports 1Q03 Diluted EPS of $0.37;
Exceeding First Call Consensus Estimate of $0.29;
Raises Guidance for 2003


GOLETA, Calif.--(BUSINESS WIRE)--April 24, 2003--Deckers Outdoor
Corporation (NASDAQ:DECK) today announced financial results for the
first quarter ended March 31, 2003.
For the first quarter, net sales increased 9% to $36.1 million
versus $33.3 million in the same period last year. Net earnings for
the quarter increased to $4,203,000 compared to earnings before
cumulative effect of change in accounting principle described below of
$2,162,000 last year and diluted earnings per share increased 68% to
$0.37, versus diluted earnings per share before cumulative effect of
change in accounting principle of $0.22 in the first quarter of 2002.
As previously reported, on January 1, 2002 Deckers implemented
Statement of Financial Accounting Standards No. 142 ("SFAS 142"),
Goodwill and Other Intangible Assets, which requires that goodwill and
intangible assets with indefinite useful lives no longer be amortized
to earnings but instead be reviewed periodically for impairment. The
implementation of SFAS 142 resulted in a goodwill impairment charge of
approximately $9.0 million during the quarter ended March 31, 2002,
which was recorded as a cumulative effect of change in accounting
principle. In addition, SFAS 142 provides that goodwill no longer be
amortized.
Douglas Otto, Chairman and Chief Executive Officer stated, "We
begin fiscal 2003 with solid momentum that reflects both the strength
of our brands and the incremental earnings resulting from our
acquisition of Teva. Strong sales of Teva, especially in the domestic
market, coupled with the elimination of Teva royalty expenses resulted
in a significant increase in earnings per share for the first
quarter."
Including both wholesale sales and the sales of the newly acquired
catalog and Internet retailing business, Teva sales for the quarter
increased 8% to $31.7 million compared to $29.3 million in the same
period a year ago. Ugg sales for the quarter increased 297% to $1.6
million from $0.4 million last year, while Simple sales decreased 22%
to $2.8 million compared to $3.6 million last year. Included above are
aggregate catalog and Internet retail sales of $1.1 million, including
$0.6 million for Teva, $0.4 million for Ugg and $0.1 million for
Simple.
Gross margin for the quarter was 45.0% compared to 45.4% for the
first quarter of 2002, largely due to the non-recurrence of a supplier
rebate received in 2002. In addition, Deckers experienced an increased
volume of discounted sales for Simple and Teva, which was partially
offset by lower inventory write-downs, above average margins at the
newly acquired Internet and catalog retail sales operation and the
favorable impact of the strong Euro.
Selling, general and administrative expenses decreased $3.2
million to $8.2 million for the first quarter of 2003 from $11.4
million in the first quarter of 2002, primarily due to the elimination
of $2.3 million of Teva royalty expense and related license costs.
Deckers also had a $1.1 million reduction in first quarter marketing
costs as the timing of marketing programs will occur later in the year
in 2003 than in 2002 and Deckers experienced a $0.3 million reduction
in bad debt expense. These decreases were partially offset by
increased operating expenses with the addition of the catalog and
Internet retailing business and slightly higher sales commission
expense on the increased sales levels.
Mr. Otto further commented, "During the quarter, Teva increased
its retail presence and experienced strong domestic sell-through in
several key accounts including REI, Dillard's, Gart Sports and Steve's
Shoes. We are also encouraged by the continued success in several of
our closed toe footwear styles, including the recently introduced
Gamma amphibious model. We intend to build on our existing share of
the sport sandal category while simultaneously leveraging the strength
and lifestyle nature of the Teva brand in order to further penetrate
the substantially larger outdoor footwear market."
"Coming off its fifth straight year of double-digit annual sales
growth, Ugg posted record first quarter revenues of $1.6 million.
While historically the first quarter has not been a seasonally
significant period for the brand, Ugg continues to experience strong
momentum, fueled by new product introductions, geographic expansion
and celebrity exposure. Early reaction to the Fall 2003 line has been
very positive and we remain enthusiastic about our growth prospects
for this year and beyond."
Mr. Otto continued, "Simple remains a work in progress. While it
did not meet our financial targets in the first quarter, we are
pleased with early feedback on Simple's fall line of athletically
inspired styles and expect to see growth in the second half of this
year. For 2004, we plan to expand Simple's sandal offering and
introduce Simplegirl, a moderately priced collection aimed at a
younger teen demographic. We believe we have taken the necessary steps
to get the brand back on track and are headed in the right direction.
However, we have established specific performance criteria for the
remainder of 2003 and will consider other strategic alternatives for
Simple if they are not met."
Despite the debt incurred to finance the Teva acquisition,
Deckers' cash flow and liquidity remain strong. Due to the seasonal
nature of the business, March has historically been the peak borrowing
period for Deckers. Even with this historical seasonality, at March
31, 2003 Deckers had cash of $4.8 million and had reduced the
outstanding borrowings under its $20 million line of credit to $1.8
million.
Deckers also increased its guidance for 2003. Deckers currently
anticipates sales for fiscal year 2003 to range from $103 million to
$107 million and expects diluted earnings per share to range from
$0.50 to $0.53, up from the previous guidance of $0.41 to $0.46 per
share. Deckers currently expects second quarter of 2003 sales to range
from $23 million to $24 million and diluted earnings per share to
range from $0.10 to $0.11 per share.
Deckers expects 2003 Teva sales to be $68 million to $70 million,
Simple sales to be $11 million to $12 million and Ugg sales to be $24
million to $25 million.
Mr. Otto concluded, "Teva remains the sport sandal leader. Its
strong heritage in whitewater sports and its lifestyle status in the
market should enable us to effectively leverage the Teva name across a
host of additional footwear and non-footwear products. We believe
similar opportunities exist for Ugg. We are committed to executing a
strategy that will allow us to fully maximize the strength of our
assets and expand our business into the future."
Deckers Outdoor Corporation builds niche products into global
lifestyle brands by designing and marketing innovative, functional and
fashion-oriented footwear, developed for both high performance outdoor
activities and everyday casual lifestyle use. The Company's products
are offered under the Teva, Simple and Ugg brand names.

Deckers Outdoor Corporation will host a conference call to review
first quarter fiscal 2003 results, which will be broadcast live over
the Internet on Thursday, April 24, 2003 at 10:00 a.m. Eastern Time.
The broadcast will be hosted at
http://www.viavid.com/detailpage.asp?sid=1992. A replay of the call
will be available until May 1, 2003 at 12:00 AM at (877) 519-4471,
passcode: 3880180.

All statements in this press release that are not historical
facts are forward-looking statements, including the Company's
estimates regarding sales and earnings per share results for the year
ending December 31, 2003 and for the quarter ending June 30, 2003 as
well as the 2003 sales expectations for each of the Company's three
brands. These forward-looking statements are based on the Company's
expectations as of today, April 24, 2003. No one should assume that
any forward-looking statement made by the Company will remain
consistent with the Company's expectations after the date the
forward-looking statement is made. The Company intends to continue its
practice of not updating forward-looking statements until its next
quarterly results announcement. In addition, such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements
of the Company, or industry results, to differ materially from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Many of the risks, uncertainties and
other factors are discussed in detail in the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 2002. Among the
factors that could impact results are the general economic conditions
and strength or weakness in the retail environments in which the
Company's products are sold. In addition, the Company's sales are
highly dependent on consumer preferences, which are difficult to
assess and can shift rapidly. Any shift in consumer preferences away
from one or more of the Company's product lines could result in lower
sales as well as obsolete inventory, both of which could adversely
affect the Company's results of operations, financial condition and
cash flows. The Company also depends on its customers continuing to
carry and promote its various lines. Availability of products can also
affect the Company's ability to meet its customers' orders. Sales of
the Company's products, particularly those under the Teva(R) and
Ugg(R) lines, are very sensitive to weather conditions. Extended
periods of unusually cold weather during the spring and summer could
adversely impact demand for the Company's Teva(R) line. Likewise,
unseasonably warm weather during the fall and winter months could
adversely impact demand for the Company's Ugg(R) product line. Given
these uncertainties, prospective investors are cautioned not to place
undue reliance on such forward-looking statements. The Company
disclaims any obligation to update any such factors or to publicly
announce the results of any revisions to any of the forward-looking
statements contained in the 2002 Annual Report on Form 10-K, the
Quarterly Reports on Form 10-Q or this news release.


DECKERS OUTDOOR CORPORATION
AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)


Assets March 31, 2003 December 31, 2002
--------------- -----------------
Current assets:
Cash and cash equivalents $ 4,769,000 3,941,000
Trade accounts receivable, net 25,354,000 20,851,000
Inventories 16,713,000 17,067,000
Prepaid expenses and other
current assets 719,000 783,000
Deferred tax assets 1,919,000 1,919,000
-------------- ------------------
Total current assets 49,474,000 44,561,000

Property and equipment, at cost, net 3,603,000 3,864,000
Intangible assets, less applicable
amortization 70,763,000 70,773,000
Deferred tax assets 1,428,000 1,428,000
Other assets 1,695,000 1,786,000
-------------- ------------------
$ 126,963,000 122,412,000
============== ==================
Liabilities and
Stockholders' Equity

Current liabilities:
Notes payable and current
installments of long-term debt $ 4,787,000 3,951,000
Trade accounts payable 12,714,000 12,916,000
Accrued expenses 3,736,000 4,509,000
Income taxes payable 4,017,000 732,000
-------------- ------------------
Total current liabilities 25,254,000 22,108,000
-------------- ------------------

Long-term debt, less current
installments 31,471,000 35,077,000

Stockholders' equity:
Preferred stock 5,500,000 5,500,000
Common stock 95,000 95,000
Additional paid-in capital 26,386,000 26,210,000
Retained earnings 38,101,000 33,898,000
Accumulated other comprehensive
income (loss) 156,000 (476,000)
-------------- ------------------
Total stockholders' equity 70,238,000 65,227,000
-------------- ------------------

$ 126,963,000 122,412,000
============== ==================



DECKERS OUTDOOR CORPORATION
AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited)


Three-month period ended
March 31,
------------------------
2003 2002
----------- -----------

Net sales $36,102,000 33,259,000
Cost of sales 19,862,000 18,145,000
----------- -----------
Gross profit 16,240,000 15,114,000

Selling, general and administrative
expenses 8,153,000 11,400,000
----------- -----------
Earnings from operations 8,087,000 3,714,000

Other expense (income):
Interest, net 1,097,000 (17,000)
Other (15,000) 17,000
----------- -----------

Income before income taxes and cumulative
effect of accounting change 7,005,000 3,714,000
Income taxes 2,802,000 1,552,000
----------- -----------
Income before cumulative effect of
accounting change 4,203,000 2,162,000
Cumulative effect of accounting change, net
of $843,000 income tax benefit --- (8,973,000)
----------- -----------

Net income (loss) $ 4,203,000 (6,811,000)
=========== ===========


Basic income per common share before
cumulative effect of accounting change $ 0.44 0.23
Cumulative effect of accounting change --- (0.96)
----------- -----------
Basic net income (loss) per common share $ 0.44 (0.73)
=========== ===========

Average basic common shares 9,474,000 9,344,000
=========== ===========

Diluted income per common share before
cumulative effect of accounting change $ 0.37 0.22
Cumulative effect of accounting change --- (0.92)
----------- -----------
Diluted net income (loss) per common share $ 0.37 (0.70)
=========== ===========

Average diluted common shares 11,266,000 9,792,000
=========== ===========


CONTACT: Deckers Contact:
Scott Ash, 805/967-7611
or
Integrated Corporate Relations, Inc.
Investor Relations:
Chad A. Jacobs/Brendon Frey, 203/222-9013