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Under Armour to exceed long-term growth targets of 20 to 25%
18
Jan '08
Under Armour Inc announced preliminary financial results for the full year ended December 31, 2007.

Based on preliminary estimates, the Company anticipates full year 2007 net revenues to increase approximately 40% to an estimated $605 million, exceeding the Company's previously provided outlook of $590 million to $600 million.

The Company also expects 2007 income from operations to exceed the previously provided outlook of $81.5 million to $83.0 million, resulting in diluted earnings per share of approximately $1.03 to $1.04 for the full year.

Inventory at year-end is expected to be in-line with the Company's previously provided estimates of a 5% to 10% increase from the balance reported for September 30, 2007.

The Company has previously stated its long-term growth targets of 20% to 25% for the top and bottom lines. Based on continued strong consumer demand, the Company reiterates its outlook for 2008 net revenues and income from operations to exceed the long-term growth targets of 20% to 25%.

The Company is planning a year-long brand campaign, which will be used as the platform for the launch of Under Armour's Performance Training footwear, and will include a 60-second TV spot in the upcoming Super Bowl XLII on Fox on February 3rd.

The Company stated that the campaign would fit within its previously discussed guidance that marketing expenses would represent approximately 12% to 13% of 2008 net revenues.

Based on the timing of the Performance Training footwear launch, the Company is planning to shift a substantial portion of its full year marketing spend to the first half of the year.


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