Columbia Sportswear Q3 sales fall

28 Oct '05

3 min read

Global leader in the active outdoor apparel and footwear industries, Columbia Sportswear Company announced net sales of $409.8 million for the quarter ended September 30, 2005, a decrease of 1.4 percent compared to net sales of $415.8 million for the same period of 2004. The Company concluded various income tax audits of several tax years that resulted in a non- recurring $5.6 million reduction in third quarter accrued income taxes. Net income for the third quarter was $66.5 million, a 3.1 percent decrease compared to net income of $68.6 million for the same period of 2004.

Earnings per share for the third quarter of 2005 were $1.74 (diluted) on 38.1 million weighted average shares, compared to earnings per share of $1.68 (diluted) for the third quarter of 2004 on 40.9 million weighted average shares.

Compared to the third quarter of 2004, Other International sales increased 16.5 percent to $50.2 million, European sales increased 5.6 percent to $62.1 million, Canadian sales increased 6.3 percent to $52.6 million, and US sales decreased 7.4 percent to $244.9 million for the third quarter of 2005.

Excluding changes in currency exchange rates, Other International sales increased 15.0 percent, European sales increased 4.7 percent, and Canadian sales decreased 3.0 percent for the third quarter of 2005. Consolidated net sales for the third quarter of 2005 decreased 2.8 percent, excluding changes in currency exchange rates, compared to the same period of last year.

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