Under Armour's Q4 income up, FY income grows by 21%
07 Feb '06
4 min read
The decline for the quarter is due to a shift of certain products to our licensees which were formerly sold within the Accessories category.
Wayne Marino, CFO of Under Armour Inc, said, "We are delighted with Under Armour's strong top line growth."
"This sales strength coupled with a much disciplined approach to running our business, enabled us to achieve strong operating margins for the quarter and full year while making important investments in the business. Further, we continue to make significant improvements in managing inventory and we ended the year with a very solid balance sheet. Taken together, this provides a sound foundation on which to further grow the business in 2006 and beyond," Marino added.
Under Armour management is basing its outlook for 2006 on the following assumptions:
* Net revenue growth of 20 percent to 25 percent.
* Seasonality in the business during 2006 mirroring that which occurred in 2005.
* An increase in net income in the range of 20 percent to 25 percent.
* An effective tax rate of 41.5 percent.
* Fully diluted weighted average number of shares outstanding of approx. 50 million.
* Capital expenditures in the range of $15 million to $16 million.
Plank concluded, "We believe our results for 2005 reflect not only the overall strength of the Under Armour brand, but also our dedication to innovating the category of performance, evolving our product lines, and educating consumers by translating complex technology into a very simple marketing message.”
marketing@alchempro.com
