- More Asset-Buying Depends on Economy: BOE
- Stocks Sputter as Investors Seek Next Catalyst
- T-Mobile USA Wants to Grow Again
- Nissan to Recall 250,000 Cars Globally
- Winners and Losers in Obama's Corporate Tax Plan
- Santorum Takes Heavy Fire in Arizona Republican Debate
- Volcker Rule Threatens Recovery: Finance Ministers
- Next Bank of England Governor: The Race is On
- Peugeot Citroen in Talks With General Motors
- Wandering Through Toy Land
- Dell Is Done, But Don't Discount HP: Analysts
- Comcast Deal Could Spell Trouble for Netflix: Analyst
- Reading the Tea Leaves in RIM Shake-Up
- Sam Adams Brewer Crafts Beer for the Granddaddy of All Marathons
- Stocks to Give Up for Lent
- You Want Retail Customers? Give Them Deals: Analysts
- NJ Governor Chris Christie to Warren Buffett: 'Just Write a Check and Shut Up'
- 7 Undervalued IPO Stocks That Could Rebound in 2012
MOST SHARED
- RBS Records $1.2 Billion Loss After Greece Charges
- More Asset-Buying Depends on Economy: Bank of England
- Japan's Sumo Belly Flops to $50 Million Debt
- China Faces Japan-Style Stagnation Without Reform: Lawmaker
- Household Debt, Not Politics, Worry for Australia: Economist
- China Internet Firm Qihoo Says Citron Allegations False
- Break-Up, Greece Cause Huge 2011 Dexia Loss
- Japan Manufacturing Mood Dips to Levels After Quake
- Writedowns Push Deutsche Telekom Into Red
- 7 Undervalued IPO Stocks That Could Rebound in 2012
MOST POPULAR
HOT ON FACEBOOK
Under Armour 4Q profit up partly on footwear sales
Text Size 
BALTIMORE - Under Armour Inc.'s fourth-quarter profit rose 42 percent partly on the strength of its shoe and direct-to-consumer sales and taking its previously licensed hats and bags segment in house.
But the athletic clothing and footwear company also cut its 2012 revenue forecast on Thursday.
Its stock fell $1.06, or 1.4 percent, to $76.430 in morning trading.
Under Armour reported net income rose to $32.6 million, or 62 cents per share in the quarter ended Dec. 31 from $22.9 million, or 44 cents per share, a year earlier.
The performance beat the 60 cents per share that analysts surveyed by FactSet expected.
Revenue climbed 34 percent to $403.1 million from $301.2 million. Wall Street forecast revenue of $402 million.
Accessories revenue more than doubled to $37 million because Under Armour took the business in house. Footwear revenue rose 43 percent to $31 million, while direct-to-consumer revenue — which made up 38 percent of total revenue — increased 50 percent. Clothing revenue rose 27 percent on strong sales of fleece items and the expansion of its Charged Cotton goods.
For the year, net income climbed to $96.9 million, or $1.85 per share, from $68.5 million, or $1.34 per share, in the prior year.
Annual revenue increased 39 percent to $1.47 billion from $1.06 billion.
Under Armour now expects 2012 revenue growth at the low end of its 20 percent to 25 percent long-term target. Its previous guidance was for results to come in at the higher end of its long-term growth target.
The Baltimore company still expects operating income growth at the high end of the projected 20 percent to 25 percent range.
- The economy is heating up but the Fed isn’t letting up. How do you play the fixed-income market?
- With its rich oil reserves and rampant corruption, Azerbaijan poses a dilemma for U.S. policy makers.
- Business owners should occasionally consider giving their work for free. Here are several reasons why.
- GOP Governor Chris Christie wants Warren Buffett to stop talking about higher taxes on the super-rich.
- There’s a shortage of hotel rooms in London for the Olympics, so many locals are renting out their opulent private homes.
- Boston Beer will be creating a special commemorative brew, the Samuel Adams Boston 26.2, to mark this year's Boston Marathon.
Data is a real-time snapshot *Data is delayed at least 15 minutes
