Home / Knowledge / News / Fashion / Under Armour posts preliminary financial results for Q4 2008
Under Armour posts preliminary financial results for Q4 2008
16
Jan '09
Under Armour Inc announced preliminary financial results for the fourth quarter and full year ended December 31, 2008.

Based on preliminary estimates for the fourth quarter of 2008, the Company now anticipates net revenues in the range of $179 million to $180 million. Income from operations for the fourth quarter is estimated to be approximately $22 million to $24 million and diluted earnings per share is expected to be in the range of $0.16 to $0.18.

Given these preliminary fourth quarter estimates, the Company now expects full year 2008 revenues in the range of $725 million to $726 million compared with net revenues of $606.6 million in 2007, representing growth of approximately 20%. Full year 2008 income from operations is estimated to be approximately $76 million to $78 million compared with $86.3 million in 2007. Diluted earnings per share for 2008 is anticipated to be in the range of $0.76 to $0.78 compared with $1.05 for the full year in 2007. The Company had previously anticipated 2008 net revenues in the range of $750 million to $765 million and 2008 income from operations in the range of $97.5 million to $104.5 million.

Fourth quarter 2008 net revenues were primarily impacted by lower than anticipated at-once orders and higher than anticipated cancellations in the U.S. wholesale business as well as lower than anticipated web sales, resulting from the weaker retail environment. The impact to fourth quarter income from operations and diluted earnings per share was primarily driven by the lower than expected sales volumes.

Cash and cash equivalents are estimated to be approximately $100 million at December 31, 2008 compared with $40.6 million at December 31, 2007. The Company has approximately $25 million in borrowings outstanding under its $100 million revolving credit facility at December 31, 2008. Inventory at year-end, which includes approximately $15 million of running footwear to support the product launch on January 31, 2009, is expected to increase approximately 10% from the balance reported at December 31, 2007.

Kevin Plank, Chairman and CEO of Under Armour Inc. stated, "We are a growth company, and we remain focused on developing and executing our strategy to deliver both near-term and long-term value for our shareholders. Our brand strength, connection with the consumer, and our demonstrated ability to generate excitement through the introduction of compelling performance products give us confidence in the opportunities ahead. Understanding the current environment, we will focus greater precision on cost management and prioritize our investments for the long-term growth of the Brand."

Under Armour's fourth quarter and full year financial results remain subject to additional closing procedures. The Company will report the final results of its fourth quarter ended December 31, 2008 on Thursday, January 29, 2009 at 7:00 a.m. ET.

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.

Under Armour Performance


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search