Home / Knowledge / News / Apparel/Garments / Q3 FY17 Columbia Sportswear net income up 5%
Q3 FY17 Columbia Sportswear net income up 5%
Oct '17
Courtesy: Columbia Sportswear Company
Courtesy: Columbia Sportswear Company
For the third quarter of fiscal 2017, net income of Columbia Sportswear has increased 5 per cent to $87.7 million, compared to third quarter 2016 net income of $83.6 million. The company's third quarter net sales increased lower than 1 per cent to $747.4 million and the cash and short-term investments totaled $430.3 million as on September 30, 2017.

Third quarter income from operations totaled $122.9 million, or 16.4 per cent of net sales, compared to $123.6 million, or 16.6 per cent of net sales, for the same period in 2016. The effective income tax rate was 26.4 per cent in the third quarter of 2017, reflecting a favourable shift in the geographic mix of taxable income compared to the 29.7 per cent effective income tax rate for the same period in 2016.

Through the first nine months of 2017, net sales increased $30.5 million, or 2 per cent, to a record $1,690.1 million, compared to $1,659.6 million in the comparable 2016 period. Year-to-date 2017 net income increased 5 per cent, to $112.2 million, or $1.59 per diluted share, compared to net income of $107.2 million, or $1.52 per diluted share, in the comparable 2016 period.

"We're pleased to report better than expected third quarter results, including continued strong sales growth in our European wholesale and US direct-to-consumer businesses, as well as growth in each of our international regions. While our US business adapts to ongoing structural changes, our improved profitability outside the US illustrates the strength of our global business model," said president and chief executive officer Tim Boyle.

For fiscal 2017, the company expects net income between approximately $183 and $190 million, or $2.60 to $2.70 per diluted share. It projects net sales growth of around 3 per cent compared with 2016 net sales of $2.38 billion, including less than 1 percentage point positive effect from changes in currency exchange rates. The company expects 2017 operating income between approximately $243 and $252 million, representing anticipated 2017 operating margin of up to approximately 10.3 per cent.

"We are also pleased to reiterate our full year 2017 financial outlook, which now incorporates the anticipated costs of Project Connect. In addition, based upon advance orders for Spring 2018 we are optimistic that we will continue to generate global growth, including a return to growth in our US wholesale business in the first half of 2018," said Boyle.

"Our powerful balance sheet, with $430 million in cash and no long-term debt, provides the flexibility to adapt our business as our major markets evolve. It is from this position of strength and confidence that we are moving steadily forward on Project Connect, identifying strategic organisational and operational initiatives to accelerate execution of our strategic plan and to increase demand creation to drive further profitable growth in 2018 and beyond," explained Boyle. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Feb 2020

France unveils environment score system for apparel

France has launched a system under which apparel may now display a...

Pic: Shutterstock

Textiles | On 21st Feb 2020

Indian textiles ministry to back small-scale firms

The Indian textiles ministry will contact small-scale manufacturers...

Pic: Shutterstock

Textiles | On 21st Feb 2020

India overtakes UK, France to be 5th largest world economy

India is now the fifth-largest world economy in 2019 with a gross...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Nuno Venda, ROQ

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Sanjay Desai & Ashish Mulani, True Colors

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Ian Russell, Pireta

Ian Russell

UK-based Pireta has developed a unique free-form process to add durable,...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

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

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

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

Advanced Search