Columbia Sportswear earnings down 65 percent
By
Reuters
Published
Apr 23, 2009
CHICAGO, April 23 (Reuters)- Outerwear maker Columbia Sportswear Co (COLM.O) said on Thursday 23 April that quarterly profit fell sharply due to slowing sales in the recession and adverse foreign exchange rates.
Columbia Sportswear - "Gear for the Greater Outdoors" |
The company, whose brands include Columbia Sportswear, Montrail and Pacific Trail, said net profit in the first quarter was $6.9 million, or 20 cents per share, from $19.9 million, or 56 cents per share, a year earlier. Revenue fell nearly 9 percent to $272 million, the company said. The impact of the stronger U.S. dollar reduced revenue by 5 percent.
Columbia Sportswear's orders for fall product through March 31, a measure called its backlog, fell 15 percent, including a 4 percent negative effect from currency exchange rates. (Additional reporting by Alexandria Sage; Editing by Richard Chang, Leslie Gevirtz)
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