Under Armour, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year of 2013
January 31, 2013 at 12:01 pm
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Under Armour, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net revenues of $505,863,000 compared with $403,126,000 for the same period a year ago. Income from operations was $81,592,000 compared with $55,302,000 for the same period a year ago. Income before income tax was $79,753,000 compared with $53,890,000 for the same period a year ago. Net income was $50,132,000 or $0.47 per diluted share compared with $32,552,000 or $0.31 per diluted share for the same period a year ago.
For the full year, the company reported net revenues of $1,834,921,000 compared with $1,472,684,000 for the same period a year ago. Income from operations was $208,695,000 compared with $162,767,000 for the same period a year ago. Income before income tax was $203,439,000 compared with $156,862,000 for the same period a year ago. Net income was $128,778,000 or $1.21 per diluted share compared with $96,919,000 or $0.92 per diluted share for the same period a year ago. Net cash provided by operating activities was $199,761,000 compared with $15,218,000 for the same period a year ago. Purchase of property and equipment was $50,650,000 compared with $56,228,000 for the same period a year ago.
The company provided earnings guidance for the full year of 2013. Based on current visibility, the company expects 2013 net revenues in the range of $2.20 billion to $2.22 billion, representing growth of 20% to 21% over 2012, and 2013 operating income in the range of $255 million to $257 million, representing growth of 22% to 23% over 2012. The company expects an effective tax rate of 39.0% to 39.5% for the full year, compared to an effective tax rate of 36.7% for 2012.
Under Armour, Inc. is a developer, marketer and distributor of branded athletic performance apparel, footwear and accessories. It is engaged in developing, marketing and distributing branded performance apparel, footwear and accessories for men, women and youth. It operates in four geographic segments: North America, comprising the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific, and Latin America. It sells its apparel, footwear and accessories in North America through wholesale and direct-to-consumer channels. It sells its apparel, footwear and accessories in EMEA primarily through wholesale customers and independent distributors, along with e-commerce websites and Brand and Factory House stores. It sells its apparel, footwear and accessories products in China, South Korea, Australia, Singapore, Malaysia and Thailand through stores operated by its distribution and wholesale partners, along with e-commerce websites and Brand and Factory House stores.
Under Armour, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year of 2013