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Under Armour posts higher quarterly profit
26 Apr '11
4 min read
Updated 2011 Outlook
The Company had previously anticipated 2011 net revenues in the range of $1.33 billion to $1.35 billion, representing growth of 25% to 27% over 2010, and 2011 operating income in the range of $143 million to $147 million, representing growth of 27% to 31% over 2010. Based on current visibility, the Company now expects 2011 net revenues in the range of $1.37 billion to $1.39 billion, representing growth of 29% to 31% over 2010, and 2011 operating income in the range of $149 million to $153 million, representing growth of 33% to 36% over 2010.
The Company continues to expect an effective tax rate of approximately 40.0% for the full year compared to an effective tax rate of 37.1% for 2010. Finally, the company anticipates fully diluted weighted average shares outstanding of approximately 52.5 million to 52.7 million for 2011, slightly ahead of the prior range of 52.3 million to 52.5 million.
Mr. Plank concluded, "Our growth story remains strong, as demonstrated by the success we are seeing across both Apparel and Direct-to-Consumer. Our momentum into 2011 and beyond affords us the patience needed to let our Footwear investments develop and build foundations for long-term International success."
The Company had previously anticipated 2011 net revenues in the range of $1.33 billion to $1.35 billion, representing growth of 25% to 27% over 2010, and 2011 operating income in the range of $143 million to $147 million, representing growth of 27% to 31% over 2010. Based on current visibility, the Company now expects 2011 net revenues in the range of $1.37 billion to $1.39 billion, representing growth of 29% to 31% over 2010, and 2011 operating income in the range of $149 million to $153 million, representing growth of 33% to 36% over 2010.
The Company continues to expect an effective tax rate of approximately 40.0% for the full year compared to an effective tax rate of 37.1% for 2010. Finally, the company anticipates fully diluted weighted average shares outstanding of approximately 52.5 million to 52.7 million for 2011, slightly ahead of the prior range of 52.3 million to 52.5 million.
Mr. Plank concluded, "Our growth story remains strong, as demonstrated by the success we are seeing across both Apparel and Direct-to-Consumer. Our momentum into 2011 and beyond affords us the patience needed to let our Footwear investments develop and build foundations for long-term International success."
Under Armour Inc
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