Under Armour (UA) Catches Bids on Stronger Q2 Footwear Sales; Improved Outlook
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Price: $5.12 +0.39%
Revenue Growth %: -7.5%
Financial Fact:
Gross profit: 698.62M
Today's EPS Names:
VIVO, BIOX, PMCB, More
Revenue Growth %: -7.5%
Financial Fact:
Gross profit: 698.62M
Today's EPS Names:
VIVO, BIOX, PMCB, More
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Shares of Under Armour (NYSE: UA) are making a strong move Tuesday following second-quarter 2012 numbers which are inspiring investor confidence.
Revenue at the athletic shoe and sportswear maker rose 27 percent to $369.5 million, from $291.3 million in the same period last year. Consensus views calling for revs of $358.5 million.
Net income increased 6.8 percent to $6.67 million, or 6 cents per share. The Street was expecting slightly lighter profit of 5 cents per share.
Gross margin slipped 40 basis points to 45.9 percent.
Showing the largest growth was Footwear, which saw sales improve 43.8 percent to $67.43 million. Apparel sales rose 23.5 percent to $252.85 million.
Though the quarter produced some strong results, most of the positive sentiment can be traced to guidance. For fiscal 2012, Under Armour raised sales expectations by about $200 million to a range of $1.80 billion to $1.82 billion. The Street is currently looking for sales of $1.81 billion. Operating income is now expected to rise 26-27 percent, versus its prior view of 25-26 percent and its long-term target of 20-25 percent, to $205-$207 million.
Under Armour shares are up over 13 percent on gobs of volume.
Revenue at the athletic shoe and sportswear maker rose 27 percent to $369.5 million, from $291.3 million in the same period last year. Consensus views calling for revs of $358.5 million.
Net income increased 6.8 percent to $6.67 million, or 6 cents per share. The Street was expecting slightly lighter profit of 5 cents per share.
Gross margin slipped 40 basis points to 45.9 percent.
Showing the largest growth was Footwear, which saw sales improve 43.8 percent to $67.43 million. Apparel sales rose 23.5 percent to $252.85 million.
Though the quarter produced some strong results, most of the positive sentiment can be traced to guidance. For fiscal 2012, Under Armour raised sales expectations by about $200 million to a range of $1.80 billion to $1.82 billion. The Street is currently looking for sales of $1.81 billion. Operating income is now expected to rise 26-27 percent, versus its prior view of 25-26 percent and its long-term target of 20-25 percent, to $205-$207 million.
Under Armour shares are up over 13 percent on gobs of volume.
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