Columbia Sportswear (COLM) Tops Q1 EPS by 10c, Beat on Revenues
Columbia Sportswear (NASDAQ: COLM) reported Q1 EPS of $0.51, $0.10 better than the analyst estimate of $0.41. Revenue for the quarter came in at $543.8 million versus the consensus estimate of $533.37 million.
Columbia Sportswear sees FY2017 EPS of $2.72-$2.82, versus the consensus of $2.80.
Updated Fiscal Year 2017 Financial Outlook:
- Approximately 3 percent net sales growth compared with 2016 net sales of $2.38 billion, including approximately 1 percentage point negative effect from changes in currency exchange rates;
- Approximately 3 percent growth in operating income to between approximately $256 million and $265 million, representing operating margin of approximately 10.8 percent;
- An effective income tax rate of approximately 23.0 percent; and
- Up to 4 percent growth in net income to between approximately $192 million and $199 million, or $2.72 to $2.82 per diluted share.
First Quarter 2017 Highlights:
- Net sales increased 4 percent to a first-quarter record $543.8 million.
- Operating income increased 8 percent to a first-quarter record $48.0 million.
- Net income increased 13 percent to a first-quarter record $36.0 million, or $0.51 per diluted share.
- Cash and short term investments totaled $590.5 million at March 31, 2017.
- Inventory decreased 3 percent to $398.8 million.
- The board of directors approved a regular quarterly dividend of $0.18 per share.
For earnings history and earnings-related data on Columbia Sportswear (COLM) click here.