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Apparel business perks up at Under Armour
05 May '10
4 min read
Balance Sheet Highlights
Cash and cash equivalents were $166.0 million at March 31, 2010 compared with $65.6 million at March 31, 2009. Inventory at quarter-end decreased 10% to $147.9 million compared with $164.4 million at March 31, 2009. Net accounts receivable increased 4% to $110.3 million at March 31, 2010 compared with $106.0 million at March 31, 2009.
Outlook for 2010
The Company had previously anticipated 2010 annual net revenues in the range of $945 million to $960 million, an increase of 10% to 12% over 2009 and 2010 diluted earnings per share for the full year to grow in line with net revenue growth. Based on the first quarter results and improved visibility for the full year, the Company now expects 2010 annual net revenues in the range of $965 million to $985 million, an increase of 13% to 15% over 2009. The Company also expects 2010 diluted earnings per share in the range of $1.05 to $1.07, an increase of 14% to 16% over 2009.
Cash and cash equivalents were $166.0 million at March 31, 2010 compared with $65.6 million at March 31, 2009. Inventory at quarter-end decreased 10% to $147.9 million compared with $164.4 million at March 31, 2009. Net accounts receivable increased 4% to $110.3 million at March 31, 2010 compared with $106.0 million at March 31, 2009.
Outlook for 2010
The Company had previously anticipated 2010 annual net revenues in the range of $945 million to $960 million, an increase of 10% to 12% over 2009 and 2010 diluted earnings per share for the full year to grow in line with net revenue growth. Based on the first quarter results and improved visibility for the full year, the Company now expects 2010 annual net revenues in the range of $965 million to $985 million, an increase of 13% to 15% over 2009. The Company also expects 2010 diluted earnings per share in the range of $1.05 to $1.07, an increase of 14% to 16% over 2009.
Under Armour Inc
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