Home / Knowledge / News / Apparel/Garments / Columbia Sportswear Q1 net income skyrockets 120%
Columbia Sportswear Q1 net income skyrockets 120%
30
Apr '14
Columbia Sportswear Company, a leading innovator in the global outdoor apparel, footwear, accessories and equipment industries, announced record first quarter net sales of $424.1 million, an increase of 22 percent compared with first quarter 2013 net sales of $348.3 million. 
 
First quarter 2014 net income totaled $22.3 million, or $0.63 per diluted share, an increase of 120 percent compared with first quarter 2013 net income of $10.1 million, or $0.29 per diluted share, which included restructuring charges of approximately $2.0 million, after-tax, or $0.06 per diluted share.
 
First Quarter 2014 Highlights:
Net sales increased 22 percent to a first quarter record $424.1 million, compared with first quarter 2013 net sales of $348.3 million.
 
Net income totaled $22.3 million, or $0.63 per diluted share, an increase of 120 percent compared with first quarter 2013 net income of $10.1 million, or $0.29 per diluted share, which included restructuring charges of approximately $2.0 million, after-tax, or $0.06 per diluted share.
 
The first quarter 2014 effective tax rate was 32.6 percent, compared with 17.4 percent in the first quarter of 2013, which benefited from the reinstatement of the R&D tax credit.
 
The board of directors approved a quarterly dividend of $0.28 per share, payable May 29, 2014 to shareholders of record on May 15, 2014.
 
Fiscal Year 2014 Outlook Raised:
Fiscal 2014 outlook (excluding any anticipated impact from the pending purchase of prAna) raised to anticipate net sales growth of 16 to 18 percent, and approximately 25 percent growth in operating income, resulting in full year operating margin of approximately 8.25 percent of net sales.
 
First Quarter Results (All comparisons are between first quarter 2014 and first quarter 2013, unless otherwise noted.)
 
Consolidated net sales increased 22 percent to $424.1 million compared with net sales of $348.3 million for the same period in 2013. Changes in currency exchange rates had a 1 percentage point negative effect on the net sales comparison.
 
First quarter U.S. net sales increased $40.7 million, or 20 percent. Net sales in Canada increased $3.1 million, or 13 percent, including an 11 percentage point negative effect from changes in currency exchange rates. Latin America/Asia Pacific (LAAP) region net sales increased $33.7 million, or 41 percent, including incremental sales from the company's new China joint venture and a 5 percentage point negative effect from changes in currency exchange rates. These increases were partially offset by a $1.7 million, or 4 percent, decrease in Europe/Middle East/Africa (EMEA) region net sales, including a 2 percentage point benefit from changes in foreign currency exchange rates.
 
Click here to view full results.
 

Columbia Sportswear Company


Must ReadView All

Apparel/Garments | On 30th Apr 2016

Britain keen on new ventures in textiles and garment

British High Commissioner to India Sir Dominic Asquith, has said that ...

Apparel/Garments | On 30th Apr 2016

‘India’s apparel sector needs to revisit policies’

Apparel Export Promotion Council (AEPC)’s Additional Secretary...

Textiles | On 30th Apr 2016

Bangladesh spinners wary of another gas price hike

Bangladeshi cotton spinners have expressed concern that they may lose ...

Interviews View All

Agnes Etame Yescot
Fatex Fair

How do you look at the role of fashion trade shows in connecting emerging...

Paolo Briatore
INVISTA India Sales & Services Ltd.

How do you find the market for intimate wear in India as compared to the...

Peter Manns
Coats Southern Africa

How is the market for sewing threads faring in South Africa and how will...

Mr. Narendra Dalmia
Strata Geosystems (India) Pvt. Ltd.

Mr. Narendra Dalmia has a experience of about 35 years in a wide variety...

Dr. Razvan Popescu
Bozzetto Group

Dr. Razvan Popescu is the Business Unit Head of the Textile Chemicals...

Susan Stansbury
Converting Influence LLC

Susan Stansbury is the director of Converting Influence LLC. Converting...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search