By
Reuters
Published
Jul 28, 2009
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Under Armour posts surprise second quarter profit

By
Reuters
Published
Jul 28, 2009

NEW YORK, July 28 (Reuters) - Under Armour Inc (UA.N) reported a surprise quarterly profit on Tuesday 28 July, as double-digit sales growth in its apparel business offset a decline in footwear sales.


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The sports clothing and footwear maker also forecast full-year results above Wall Street estimates.

Net income in its second quarter rose to $1.44 million, or 3 cents per share, from $1.38 million, or 3 cents per share, a year earlier.

Analysts, on average, expected a loss of 2 cents per share, according to Reuters Estimates.

Revenue rose to $164.6 million from $156.7 million.

The company expects 2009 earnings of 80 cents to 82 cents per share on revenue of $810 million. Analysts looked for earnings of 79 cents per share on revenue of $804.9 million.

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