UPDATE: Under Armour (UA) Tops Q4 EPS by 1c; Guides to Weak Side

January 31, 2013 7:02 AM EST
(Updated - January 31, 2013 7:21 AM EST)

Under Armour (NYSE: UA) reported Q4 EPS of $0.47, $0.01 better than the analyst estimate of $0.46. Revenue for the quarter came in at $506.6 million versus the consensus estimate of $497.88 million.

Sees FY2013 revenue of $2.2 billion to $2.22 billion, versus the consensus of $2.22 billion.

Revenue: Fourth quarter footwear net revenues increased 43% to $45 million from $31 million in the prior year's period, primarily driven by new 2012 running styles, including UA Spine, and strong sell-in of new 2013 baseball cleats. Fourth quarter accessories net revenues increased 16% to $43 million from $37 million in the prior year's period. Direct-to-Consumer net revenues, which represented 39% of total net revenues for the fourth quarter, grew 29% year-over-year.

Gross margin slipped 50 basis points to 47.9 percent.

"Our ability to bring practical innovation to our consumer across a broad range of product drove our 25% net revenue growth in 2012 and positions us well for 2013 and beyond," commented CEO Kevin Plank. "With these strong results in hand, we are well on our way toward delivering on the goal established at our June 2011 Investor Day to more than double our net revenues from 2010 to 2013."

"In the year ahead, we will drive growth by re-invigorating core categories like Baselayer, continuing to expand our consumer base in Women's and Youth, and introducing the next wave of Under Armour innovation through product such as Armour39 that will debut in the next month. We will open the next generation of Under Armour specialty retail in mid-February in our home city of Baltimore, while we are prioritizing our growth strategies in key markets in Europe, Asia, and Latin America," Plank concluded.

For earnings history and earnings-related data on Under Armour (UA) click here.

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