Under Armour Inc. (UA: Quote) posted higher second-quarter net income of $7 million, compared with $6 million last year. Net income growth trailed net revenues growth, primarily due to a planned shift of marketing expenses into the second quarter. Quarterly earnings per share for the quarter remained unchanged at $0.06. On average, 26 analysts polled by Thomson Reuters expected earnings per share of $0.05 for the quarter. Analysts' estimates typically exclude one-time items.
Net revenues increased 27% in the second quarter of 2012 to $369 million from $291 million in the prior-year's period. Analysts estimated revenues of $358.50 million for the quarter.
Based on current visibility, the company now sees 2012 net revenues in the range of $1.80 billion - $1.82 billion, representing growth of 22% to 24% over 2011, and 2012 operating income in the range of $205 million - $207 million. Previously, Under Armour had anticipated 2012 net revenues in the range of $1.78 billion - $1.80 billion, representing growth of 21% to 22% over 2011, and 2012 operating income in the range of $203 million - $205 million.
Click here to receive FREE breaking news email alerts for UNDER ARMOUR INC and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org