Columbia Sportswear Q4'13 net sales rises 6%

19 Feb '14

4 min read

Columbia Sportswear Company , a leading innovator in the global outdoor apparel, footwear, accessories and equipment industries, announced record fourth quarter net sales of $533.1 million, an increase of 6 percent compared with the fourth quarter of 2012.

Fourth quarter 2013 net income totaled $36.7 million, or $1.05 per diluted share, including a non-cash asset impairment charge of approximately $5.6 million after-tax, or $0.16 per diluted share. Fourth quarter 2012 net income totaled $39.5 million, or $1.15 per diluted share.

Full year 2013 net sales increased 1 percent to $1.68 billion and net income totaled $94.3 million, or $2.72 per diluted share, including a non-cash asset impairment charge of approximately $5.6 million after tax, or $0.16 per diluted share. Full year 2012 net income totaled $99.9 million, or $2.93 per diluted share.

4th Quarter 2013 Highlights:

-Net sales increased 6 percent to a fourth quarter record $533.1 million, compared with fourth quarter 2012 net sales of $501.1 million.

-Net income totaled $36.7 million, or $1.05 per diluted share, including a non-cash asset impairment charge of approximately $5.6 million after tax, or $0.16 per diluted share, compared with fourth quarter 2012 net income of $39.5 million, or $1.15 per diluted share.

-The board of directors approved a 12 percent increase in the quarterly dividend to $0.28 per share, payable March 18, 2014 to shareholders of record on March 7, 2014.

Fiscal Year 2013 Highlights:

-Fiscal 2013 net sales totaled $1.68 billion, compared to fiscal 2012 net sales of $1.67 billion.

-Fiscal 2013 net income totaled $94.3 million, or $2.72 per diluted share, including a non-cash asset impairment charge of approximately $5.6 million after tax, or $0.16 per diluted share, compared to fiscal 2012 net income of $99.9 million, or $2.93 per diluted share.

Fourth Quarter Results

Consolidated net sales increased 6 percent to $533.1 million compared with net sales of $501.1 million for the same period in 2012. Changes in currency exchange rates had a 2 percentage point negative effect on the net sales comparison.

Fourth quarter U.S. net sales increased $34.1 million, or 12 percent. Europe/Middle East/Africa (EMEA) region net sales increased $6.6 million, or 11 percent, including a 3 percentage point benefit from changes in foreign currency exchange rates.

Net sales in Canada increased $5.2 million, or 16 percent, including a 6 percentage point negative effect from changes in currency exchange rates. Those increases were partially offset by a $13.9 million, or 11 percent, decline in LatinAmerica/Asia Pacific (LAAP) region net sales, including an 8 percentage point negative effect from changes in currency exchange rates.

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