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Men's, Women's & Youth apparel biz perk up at Under Armour
27 Oct '09
4 min read
Outlook for 2009
For 2009, the Company had previously estimated annual net revenues of approximately $810 million and diluted earnings per share in the range of $0.80 to $0.82. However, based on its performance year-to-date, the Company is increasing its outlook for 2009.
The Company now anticipates full year net revenues of $830 million to $835 million. Based on higher personnel costs, including increased funding of the Company's performance incentive plan, selling, general, and administrative expenses for 2009 are now expected to grow in the mid-teens on a percentage basis year-over-year, above the Company's previous outlook for growth in the low-teens. Diluted earnings per share for the year is anticipated to be $0.85 to $0.87.
Brad Dickerson, Chief Financial Officer of Under Armour, concluded, "We remain focused on achieving our financial and strategic goals for 2009 while laying the groundwork for 2010 and beyond. Our business model is built on a foundation of profitable growth. We will continue to leverage our brand equity with athletes to capture market share as we align our growing team and resources to achieve greater operational efficiency."
Under Armour is a leading developer, marketer, and distributor of branded performance apparel, footwear, and accessories. The brand's moisture-wicking synthetic fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional natural fiber products. The Company's products are sold worldwide and worn by athletes at all levels, from youth to professional, on playing fields around the globe.
For 2009, the Company had previously estimated annual net revenues of approximately $810 million and diluted earnings per share in the range of $0.80 to $0.82. However, based on its performance year-to-date, the Company is increasing its outlook for 2009.
The Company now anticipates full year net revenues of $830 million to $835 million. Based on higher personnel costs, including increased funding of the Company's performance incentive plan, selling, general, and administrative expenses for 2009 are now expected to grow in the mid-teens on a percentage basis year-over-year, above the Company's previous outlook for growth in the low-teens. Diluted earnings per share for the year is anticipated to be $0.85 to $0.87.
Brad Dickerson, Chief Financial Officer of Under Armour, concluded, "We remain focused on achieving our financial and strategic goals for 2009 while laying the groundwork for 2010 and beyond. Our business model is built on a foundation of profitable growth. We will continue to leverage our brand equity with athletes to capture market share as we align our growing team and resources to achieve greater operational efficiency."
Under Armour is a leading developer, marketer, and distributor of branded performance apparel, footwear, and accessories. The brand's moisture-wicking synthetic fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional natural fiber products. The Company's products are sold worldwide and worn by athletes at all levels, from youth to professional, on playing fields around the globe.
Under Armour, Inc
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