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Net income rises 21% in Q4 2015 at Under Armour
30
Jan '16
Under Armour, a US based casualwear and sportswear company, reported a rise of 21 per cent in its net income to $106 million in the fourth quarter of 2015 as compared to $88 million in the fourth quarter of 2014, according to a press statement released by the company.

Diluted earnings per share for Q4 of 2015 rose by 19 per cent to $0.48 at the company as compared to $0.4 in the corresponding period last year. Gross margin in this period fell to 48 per cent as compared to 49.9 per cent in the same period of 2014.

Net revenue increased by 31 per cent in the fourth quarter of 2015 to $1.17 billion as compared to $895 million in 2014.

Commenting on the results, Kevin Plank, chairman and CEO of Under Armour said, “We delivered our 25th consecutive quarter of more than 20 per cent net revenue growth in our largest product category of apparel.  Moreover, we continued to diversify our product offering and geographic reach, driving significant market share gains in key strategic areas.”

“With our continued investments across people, systems and digital, we are confident in our ability to build upon this tremendous momentum, reinforcing our belief that we are just getting started in becoming the next great global brand,” he said.

In its outlook for 2016, the company expects net revenues of approximately $4.95 billion, representing growth of 25 per cent as compared to 2015, and operating income of approximately $503 million, representing growth of 23 per cent as compared to 2015. (MCJ)

Fibre2Fashion News Desk - India

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