Under Armour, Inc. (NASDAQ:UA) reported net income above Wall Street’s expectations for the first quarter. The Company is a developer, marketer and distributor of branded performance apparel, footwear and accessories for men, women and youth.
Under Armour Earnings Cheat Sheet for the First Quarter
Results: Net income for Under Armour, Inc. rose to $12.1 million (23 cents/share) vs. $7.2 million (14 cents/share) in the same quarter a year earlier. A rise of 69.3% from the year earlier quarter.
Revenue: Rose 36.3% to $312.7 million YoY.
Actual vs. Wall St. Expectations: UA beat the mean analyst estimate of 19 cents/share. Estimates ranged from 14 cents per share to 22 cents per share.
Quoting Management: Kevin Plank, President, CEO and Chairman of Under Armour, Inc., stated, “First quarter results underscore the substantial opportunities that remain in taking our Brand to new consumers. The launch of Charged Cotton to date shows that we can change category expectations, while broadening the overall market opportunity for the Brand. At the same time, we continue to see opportunities to better meet consumer demand through enhanced execution with our existing retail partners as well as through our own Direct-to-Consumer channel.”
Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 26.6%, with the biggest boost coming in the most recent quarter when revenue rose 36.3% from the year earlier quarter.
The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 51% and in the third quarter of the last fiscal year, the figure rose 33.1%.
Competitors to Watch: Columbia Sportswear Company (NASDAQ:COLM), Crocs (NASDAQ:CROX), Deckers Outdoor (NASDAQ:DECK), Skechers (NYSE:SKX), K-Swiss (NASDAQ:KSWS), Steven Madden (NASDAQ:SHOO), The Timberland Company (NYSE:TBL), LaCrosse Footwear (NASDAQ:BOOT), Phoenix Footwear (AMEX:PXG), Foot Locker (NYSE:FL), The Finish Line (NASDAQ:FINL) and Nike Inc. (NYSE:NKE).
Today’s Performance: Shares of UA are trading at $71.40 as of April 26, 2011 at 10:35 AM ET, down 9% from the previous close.