Shares of shoemaker Deckers Outdoor Corp. (Nasdaq: DECK) soared as much as 9 percent from Thursday’s closing price, in morning trading on Friday after the company reported strong third quarter earnings that beat analysts’ expectations.

“The strong performance of our new fall lines helped fuel sales gains across each of our distribution channels and geographic regions compared to the third quarter of last year,” said Deckers’ Chairman and CEO, Angel Martinez in a statement. “We continue to successfully expand the UGG brand’s market share by developing more compelling products including boots, casuals and sneakers that target a wider consumer audience. The global response to our fall collection has been very encouraging, with sell-through rates accelerating as we’ve moved into the fourth quarter. At the same time, the strong momentum the Teva brand experienced during the first half of the year is carrying over into the second half. This was driven by increased shipments of our fall collection, led by an expanded offering of closed toe products coupled with strong in-season demand for our sandal assortment. We are encouraged by the current trends in our business and believe we are well positioned for a very good holiday selling season.”
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Deckers earned $42.1 million, or $1.07 per share in the third quarter ended September 30, 2010, largely driven by improved sales of its UGG boots and Teva sandals. Analysts were expecting earnings of 93 cents per share. Quarterly revenue increased to $277.9 million, from $228.4 million, a year earlier.

Sales of the company’s UGG boots increased 20.2 percent to $255.8 million, and sales of its Teva sandals increased to $13.7 million, up 51.7 percent from $9 million a year ago.

Deckers also raised its full-year revenue outlook to a 16 percent improvement over 2009 levels, up from previous guidance of 14 percent. The company also expects its full year EPS to increase 22 percent over 2009, compared to previous earnings guidance of 16 percent, over last year.

Shares of Deckers Outdoor Corp. are up approximately 13 percent over the past three months.