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Sales soar 28% at protective gear maker Under Armour in Q2

29
Jul '16

With net revenues of $1.0 billion in the second quarter ended June 301, 2016, as against $784 million in the prior year's second quarter, Under Armour reported a 28 per cent rise in sales.

However, operating income slipped 39 per cent year on year in the second quarter of 2016, down from $19 million, inclusive of a $23 million impairment related to the liquidation of Sports Authority.

Net income too crashed 58 per cent in the reporting quarter to $6 million compared with $15 million in the previous year's same quarter.

For the quarter under review, the company realised diluted loss per share of $0.12 for Class A and B shares and diluted earnings per share of $0.15 for Class C shares.

“This reflects the impact of a $59 million stock dividend paid to Class C shareholders during the quarter,” the company said.

“If the Class C stock dividend had not been paid, non-GAAP diluted earnings per share for all classes for the second quarter would have been $0.01 per share,” it explained. (AR)

Fibre2fashion News Desk - India

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