Sportswear, outerwear & footwear sales up at Columbia Sportswear's Q3

28 Oct '06

3 min read

• Global net sales increased 10.8 percent to $454.1 million, a third quarter record, compared to third quarter 2005 net sales of $409.8 million.
• Third quarter net income was $60.3 million, or $1.67 per diluted share, net of $0.04 per share of stock-based compensation expense, compared to $66.5 million, or $1.74 per diluted share, for the same period last year. For purposes of comparison, Columbia recorded a tax benefit of $5.6 million, or $0.14 per diluted share in the third quarter of last year, resulting from the favorable conclusion of various income tax audits.
• Global spring product backlog increased 15.4 percent to $414.5 million compared to September 30, 2005; consolidated backlog, which includes fall product orders, increased 17.8 percent to $693.9 million.
• Columbia's board of directors approved the initiation of a quarterly dividend of $0.14 per share, payable on November 30, 2006 to shareholders of record on November 16, 2006.
• Columbia expects 2006 net sales growth of approximately 11 percent and estimates 2006 diluted earnings per share of $3.26 to $3.29, including approximately $0.18 per share of projected stock-based compensation expense.

Columbia Sportswear Company announced net sales of $454.1 million for the quarter ended September 30, 2006, an increase of 10.8 percent compared to net sales of $409.8 million for the same period of 2005. Net income for the third quarter was $60.3 million, a 9.3 percent decrease compared to net income of $66.5 million for the same period of 2005.

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