SBD/Issue 94/Finance

Under Armour Sees Revenue Increases Over '08 For Q4, Full Year

Under Armour for Q4 of FY '09 saw net revenues increase 24% to $222.2M from $179.3M for the year-ago period. Net apparel revenues for the period ending December 31 climbed 26% to $192.1M from $152.4M in the year-ago period, while net footwear revenues fell 5.4% to $8.7M from $9.2M last year. Operating income for the quarter grew 17.8% to $26.9M from $22.9M in the year-ago period, and gross margin for Q4 increased to 51.4%, compared with 50.7% the previous year. Meanwhile, Under Armour's net revenues for FY '09 climbed 18.1% to $856.4M from $725.2M in '08, ahead of the company's previously provided outlook of $830-835M. Apparel net revenues for FY '09 grew 12.6% to $651.8M from $578.9M last year, while footwear net revenues for the year increased 60.6% to $136.2M from $84.8M in '08. Operating income for the year grew 10.9% and totaled $85.3M, up from $76.9M last year (Under Armour). At presstime, shares of Under Armour were trading at $26.11, down 6.5% from yesterday's close of $27.91 (THE DAILY).

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