Columbia Sportswear Co (COLM) Tops Q1 EPS by 15c, Provides Outlook

April 25, 2013 4:29 PM
Columbia Sportswear Co (NASDAQ: COLM) reported Q1 EPS of $0.29, $0.15 better than the analyst estimate of $0.14. Revenue for the quarter came in at $348.3 million versus the consensus estimate of $334.67 million.

Second Quarter 2013 Outlook

The second quarter is the company’s lowest volume quarter, which amplifies the effect on operating results of changes in the timing of shipments and the fixed costs of the company’s operations.

The company expects second quarter 2013 net sales to decline approximately 4 to 6 percent compared with second quarter 2012, primarily reflecting lower wholesale net sales, partially offset by increased direct-to-consumer sales.

The company expects second quarter 2013 operating margin to decline approximately 370 to 540 basis points compared to second quarter 2012, consisting of approximately 430 to 560 basis points of SG&A expense deleverage, including restructuring charges of approximately $1.7 million, approximately $1.2 million in pre-operating costs of the China joint venture, and decreased licensing income, partially offset by approximately 90 to 140 basis points of gross margin expansion.

The company is modeling an effective income tax rate for the second quarter of 29 percent.

For earnings history and earnings-related data on Columbia Sportswear Co (COLM) click here.

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Earnings Guidance