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Athlete continues to vote for Under Armour Brand
01 Feb '08
3 min read
Under Armour Inc announced financial results for the fourth quarter and year ended December 31, 2007. (On January 17, 2008, the Company had announced preliminary financial results for 2007 of approximately $605 million in net revenues and diluted earnings per share in the range of $1.03 to $1.04.)
Net revenues increased 29.2% in the fourth quarter to $174.8 million compared to net revenues of $135.3 million in the fourth quarter of 2006. Fourth quarter net income increased 42.4% to $16.9 million compared to $11.9 million in the same period of 2006.
As previously reported, in the fourth quarter of 2006, the Company received a $1.0 million benefit to net income, or $0.02 per diluted share, as a result of the impact of state tax credits.
Diluted earnings per share for the fourth quarter of 2007 was $0.34, on weighted average common shares outstanding of 50.0 million compared to $0.24 per share on weighted average common shares outstanding of 49.8 million in the fourth quarter of the prior year.
"Today's athlete continues to vote for the Under Armour Brand," stated Kevin A. Plank, Chairman and CEO of Under Armour Inc. "Our strong performance in the fourth quarter reflects the ongoing demand for our technical performance products by consumers. This momentum drives our top line results, allows us to maintain our status as the premium performance brand and helps deliver the operating leverage we achieved in our business during the quarter."
Net revenues increased 29.2% in the fourth quarter to $174.8 million compared to net revenues of $135.3 million in the fourth quarter of 2006. Fourth quarter net income increased 42.4% to $16.9 million compared to $11.9 million in the same period of 2006.
As previously reported, in the fourth quarter of 2006, the Company received a $1.0 million benefit to net income, or $0.02 per diluted share, as a result of the impact of state tax credits.
Diluted earnings per share for the fourth quarter of 2007 was $0.34, on weighted average common shares outstanding of 50.0 million compared to $0.24 per share on weighted average common shares outstanding of 49.8 million in the fourth quarter of the prior year.
"Today's athlete continues to vote for the Under Armour Brand," stated Kevin A. Plank, Chairman and CEO of Under Armour Inc. "Our strong performance in the fourth quarter reflects the ongoing demand for our technical performance products by consumers. This momentum drives our top line results, allows us to maintain our status as the premium performance brand and helps deliver the operating leverage we achieved in our business during the quarter."
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