Under Armour's profit rose almost 51% in Q4 and its revenue "reached $1 billion for the first time" in FY '10. The company posted quarterly profits of $22.9M, up from $15.2M in the year-ago period. Revenue hit $301.2M, up 35% from $202.2M in Q4 '09. UA posted full-year profits of $68.5M, up 46% from $46.8M in '09. Its '10 revenue of $1.06B was a 24% improvement from sales of $856.4M in '09 (BIZJOURNALS.com, 1/27). Under Armour Chair & CEO Kevin Plank said reaching $1B in revenues "puts us in a position to start thinking much bigger" (CNBC, 1/27).
Meanwhile, Under Armour has reached a deal to acquire Tide Point business park in South Baltimore, where it currently leases space in four buildings, for $60.5M. UA "plans to build out the site as a corporate campus" (BIZJOURNALS.com, 1/27). Also today, the company formally announced its first-ever line of cotton apparel under the Charged Cotton moniker. The line, which will become available nationwide in March, includes men's and women's shirts and shorts as well as women's capri tights (Under Armour).
