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Q4 net sales zoom 27% at Columbia Sportswear
17
Feb '15
Net sales for the fourth quarter ended December 31, 2014 at Columbia Sportswear Company zoomed 27 per cent year on year.

Columbia said it recorded net sales of $677.0 million for the fourth quarter of 2014, up a massive 27 per cent or $143.9 million from the corresponding quarter of 2013.

Fourth quarter of 2014 net income totaled $55.6 million or $0.79 per diluted share, a steep hike of 51 per cent compared with net income of $36.7 million or $0.53 per diluted share in fourth quarter of 2013.

Organic growth in the reporting quarter reached approximately $79.8 million or 15 percent from a year earlier quarter.

Its Chinese joint venture saw net sales growing by $44.1 million and a growth of around $20.0 million from the newly-acquired Prana brand.

“Changes in currency exchange rates had a 2 percentage point negative effect on the net sales comparison,” the sportswear marketer said.

Fourth quarter of 2014 income from operations surged 57 per cent to $82.1 million or 12.1 per cent of net sales, including $2.1 million of amortisation of acquired assets and integration costs related to Prana acquisition.

Excluding Prana’s operating results and the $2.1 million of expenses related to its acquisition, adjusted operating income totaled $85.2 million, or 13.0 per cent of net sales from $52.2 million, or 9.8 per cent of net sales.

For full year 2014, net sales too drove up to $415.6 million or 25 per cent to $2.1 billion and operating income also rose higher by 51 per cent to $198.8 million.

Operating margin stood at 9.5 per cent in 2014 as against operating margin of 7.8 per cent in 2013.

In 2014, net income climbed 45 per cent to $137.2 million or $1.94 per diluted share compared with full year 2013 net income of $94.3 million or $1.36 per diluted share.

CEO Tim Boyle said, “2014 was an outstanding year for Columbia Sportswear Company, reflecting strong momentum in North America in the Columbia, Sorel and prAna brands.

He added, “In addition, despite mild winter weather, we produced 10 percent growth in the Columbia brand in our Europe-direct markets, led by strong sales of trail footwear and outerwear.”

“What I am most proud of is that the Columbia and Sorel brands drove double-digit top-line growth and accounted for virtually all of our operating income growth in 2014,” he noted. (AR)

Fibre2fashion News Desk - India

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