<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number 0-22446
------------
(Check One):
[ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q [ ] Form N-SAR
For Period Ended: September 30, 1998
--------------------------------------------------------
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
-----------------------------------------
Read attached instruction sheet before preparing form. Please print or type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
Not applicable
- ------------------------------------------------------------------------------
PART I -- REGISTRANT INFORMATION
Deckers Outdoor Corporation
- ------------------------------------------------------------------------------
Full Name of Registrant
- ------------------------------------------------------------------------------
Former Name if Applicable
495-A S Fairview Avenue
- ------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Goleta, California 93117
- ------------------------------------------------------------------------------
City, State and Zip Code
PART II--RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rules 12b-25(b), the
following should be completed. (Check box if appropriate)
[X] (a) The reasons described in reasonable detail in
Part III of this form could not be eliminated
without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual
report, transition report on Form 10-K,
20-F, 11-K, N-SAR, or portion thereof
will be filed on or before the 15th
calendar day following the prescribed due
date; or the subject quarterly report or
transition report on Form 10-Q, or portion
thereof will be filed on or before the fifth
calendar day following the prescribed due
date; and
[ ] (c) The accountant's statement or other exhibit
required by Rule 12b-25(c) has been attached
if applicable.
1
<PAGE> 2
PART III. NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed).
On October 22, 1998, the Company filed a press release announcing its
operating results for the period ended September 30, 1998 and disclosing that
it is currently out of compliance with certain covenants in its bank credit
facility. As a consequence of its operating results, the Registrant's
management and other resources have been unexpectedly strained, and the
immediate time, attention and resources of management have been necessarily
directed towards the operations of the Registrant, including, among other
things, negotiating with its bank to obtain waivers of noncompliance with, or
amendments to, the credit facility. Accordingly, the Registrant's Quarterly
Report on Form 10-Q for the period ended September 30, 1998 could not be filed
within the prescribed time period without unreasonable effort and expense.
In accordance with Rule 12(b)-25(b)(2) of the Securities Exchange Act of
1934, as amended, and pursuant to Part II(b) of this Form 12b-25, the
Registrant undertakes to file its Form 10-Q within 5 calendar days following
the Form 10-Q's prescribed due date.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Scott Ash (805) 967-7611
- --------------------------------------------------------------------------------
(Name) (Area code) (Telephone number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or a
portion thereof?
[X] Yes [ ] No
If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
The Company experienced a net loss for the quarter of $5,133,000, or $.060
per diluted share, versus net earnings of $468,000, or $0.05 per diluted share,
in the third quarter of 1997. For the nine months ended September 30, 1998, the
Company experienced a net loss of $1,974,000, or $0.23 per diluted share,
versus net earnings of $4,047,000, or $0.45 per diluted share, for the
corresponding nine-month period a year earlier. On October 22, 1998, the
Company filed a press release announcing its operating results for the period
ended September 30, 1998.
2
<PAGE> 3
DECKERS OUTDOOR CORPORATION
- -------------------------------------------------------------------------------
(Name of registrant as specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 16, 1998 By /s/ SCOTT ASH
__________________________________
Scott Ash, Chief Financial Officer
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001).
3
