Oct 27, 2009
Under Armour profit beats Street; raises outlook
Oct 27, 2009
NEW YORK, Oct 27 (Reuters) - Sports clothing and footwear maker Under Armour Inc (UA.N) posted a higher-than-expected quarterly profit on Tuesday 27 October, helped by sales increases across all of its product categories, and raised its full-year outlook.
The company, a smaller challenger to sports behemoth Nike Inc (NKE.N), said third-quarter net income was $26.2 million, or 52 cents per share, up from $25.7 million, or 51 cents per share, a year earlier.
Analysts, on average, had been expecting earnings of 44 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 16 percent to $269.5 million, the company said, beating analysts' estimates for $249.9 million.
Clothing revenue rose 7.1 percent to $215.4 million, while revenue from footwear, a growing category, jumped to $33 million from $13.1 million a year earlier.
The Baltimore-based company expects 2009 earnings of 85 cents to 87 cents per share on revenue of $830 million to $835 million. Its prior forecast called for earnings of 80 cents to 82 cents per share on revenue of $810 million. (Reporting by Martinne Geller; Editing by Derek Caney)
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