Under Armour, Inc.'s (UA) fourth-quarter net income surged to $15.2 million or $0.30 a share from $8.32 million or $0.17 a share a year ago. On average, 25 analysts polled by Thomson Reuters expected earnings of $0.25 per share. Analysts' estimates typically exclude special items.
Quarterly net revenues grew 24% to $222.2 million from last year's $179.3 million. Wall Street analysts' consensus revenue estimate was $200.26 million.
Fourth-quarter apparel net revenues rose 26.0%, driven by growth in Men's, Women's, and Youth apparel, while Direct-to-Consumer net revenues grew 52.9% year-over-year.
For 2010, the company said it now expects net revenues of $945 million - $960 million, up 10% - 12% over 2009, and earnings per share to grow in line with net revenue growth. Earlier, the Company had anticipated 2010 net revenues and earnings per share to grow in the high single to low double digits.
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