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Sales jump 8.8% in Q2 for footwear maker Columbia
29 Jul '05
4 min read
"The strong financial position provides significant financial flexibility. The Chairman of the Board previously authorized an aggregate $200 million share repurchase program, and during the second quarter, they repurchased approximately 2.6 million shares for $116.5 million. To date, they have repurchased approximately 3.5 million shares for an aggregate purchase price of $164.1 million, with $35.9 million remaining under the program."
"In reviewing the second quarter results, investors should be aware that the second quarter is their smallest revenue quarter of the year, as they conclude their spring product shipping season and begin shipping fall products late in the quarter. Due to the comparatively low revenue levels in the quarter, changes in shipments in any one channel, geography or category may be excessively pronounced and may not necessarily be indicative of future results," continued Mr. Boyle.
Guidance
Mr. Boyle continued, “Based on their current outlook, they expect third quarter 2005 revenue to decline 3 to 4 percent, and net income to decline 12 to 14 percent, compared to the third quarter of 2004. For the full year 2005, they continue to maintain previously stated revenue and earnings guidance of net sales growth of approximately 5 percent, and net income decline of 8 to 12 percent when compared to 2004. These projections are forward-looking in nature, and are based on backlog and forecasts, which may change, perhaps significantly.
Oreland based Columbia Sportswear Company was founded in 1938 in Portland. Columbia is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel and footwear. As one of the largest outerwear manufacturers in the world and the leading seller of skiwear in the United States, the Company has developed an international reputation for quality, performance, functionality and value.
"In reviewing the second quarter results, investors should be aware that the second quarter is their smallest revenue quarter of the year, as they conclude their spring product shipping season and begin shipping fall products late in the quarter. Due to the comparatively low revenue levels in the quarter, changes in shipments in any one channel, geography or category may be excessively pronounced and may not necessarily be indicative of future results," continued Mr. Boyle.
Guidance
Mr. Boyle continued, “Based on their current outlook, they expect third quarter 2005 revenue to decline 3 to 4 percent, and net income to decline 12 to 14 percent, compared to the third quarter of 2004. For the full year 2005, they continue to maintain previously stated revenue and earnings guidance of net sales growth of approximately 5 percent, and net income decline of 8 to 12 percent when compared to 2004. These projections are forward-looking in nature, and are based on backlog and forecasts, which may change, perhaps significantly.
Oreland based Columbia Sportswear Company was founded in 1938 in Portland. Columbia is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel and footwear. As one of the largest outerwear manufacturers in the world and the leading seller of skiwear in the United States, the Company has developed an international reputation for quality, performance, functionality and value.
Columbia Sportswear Company
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