(News Bulletin 247) – Under Armor on Tuesday reported better-than-expected results and sales for its fourth quarter thanks to solid demand outside the United States, particularly for its shoes.
Net profit for the American sporting goods maker was $171 million for the three months to March 31, compared with a loss of $59.6 million a year earlier.
On a per-share basis, profit stands at 18 cents against a consensus of 15 cents.
Its net sales rose 8% to 1.40 billion dollars, against 1.36 billion expected on average by analysts.
While its sales in North America only increased by 3% during the quarter, those abroad climbed by 16%, driven by both the EMEA region (+14%) and Asia-Pacific. (+31%).
Its marketing, general and administrative expenses also fell by 4%.
For its new fiscal year, which began in early April, the Baltimore group says it expects stable sales, even slightly up, for an EPS expected between 47 and 51 cents.
This is worse than what the consensus had so far predicted, namely a profit of 54 cents per title.
Following these announcements, Under Armor shares lost 5.5% on Tuesday morning in pre-market quotations on Wall Street.
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