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Under Armour reports Q1 net revenues of $87.7m
26 Apr '06
3 min read
"Our Men's category posted a 31.8 percent sales increase to $52.5 million for the quarter, largely a result of our ability to successfully introduce exciting new product offerings including our golf polos as well as the continued expansion of our product within existing doors. This was coupled with the ongoing strong demand that the Under Armour brand enjoys among our core consumers."
Wayne Marino, Executive VP and CFO of Under Armour Inc, added, "We remain focused on our disciplined approach to running the business and this continues to be a top priority for us, as evidenced by our margin improvement. During the period we strengthened our infrastructure with the completion of our SAP apparel and footwear systems implementation. This system became operational in April and will enable us to better support our growth initiatives."
Under Armour management is increasing its outlook for 2006. It now expects net revenue in the range of $380 million to $390 million, a 35 to 39 percent increase from 2005, and net income in the range of $31 million to $32 million, which represents a 57 to 62 percent increase from 2005.
For the second quarter, the company expects net revenue in the range of $70 million to $75 million. It remains opportunistic in executing its marketing strategy and is committed to a marketing budget of 10 to 12 percent of net revenue for the full year.
Under Armour is a leading developer, marketer and distributor of branded performance products for men, women and youth. 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.
Wayne Marino, Executive VP and CFO of Under Armour Inc, added, "We remain focused on our disciplined approach to running the business and this continues to be a top priority for us, as evidenced by our margin improvement. During the period we strengthened our infrastructure with the completion of our SAP apparel and footwear systems implementation. This system became operational in April and will enable us to better support our growth initiatives."
Under Armour management is increasing its outlook for 2006. It now expects net revenue in the range of $380 million to $390 million, a 35 to 39 percent increase from 2005, and net income in the range of $31 million to $32 million, which represents a 57 to 62 percent increase from 2005.
For the second quarter, the company expects net revenue in the range of $70 million to $75 million. It remains opportunistic in executing its marketing strategy and is committed to a marketing budget of 10 to 12 percent of net revenue for the full year.
Under Armour is a leading developer, marketer and distributor of branded performance products for men, women and youth. 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 Inc
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