Sterne Agee CRT: Under Armour (UA) 'Remains our #1 pick for long-term growth investors'; Reiterates Buy Following 1Q
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Under Armour Reports First Quarter Net Revenues Growth Of 30%; Raises Full Year Net Revenues Outlook To $5.0 Billion
April 21, 2016 7:00 AM EDTBALTIMORE, April 21, 2016 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UA.C) today announced financial results for the first quarter ended March 31, 2016. Net revenues increased 30% in the first quarter of 2016 to $1.05 billion compared with net revenues of $805 million in the prior year's period. On a currency neutral basis, net revenues increased 32% compared with the prior year's period. Operating income increased 26% in the first quarter of 2016 to $35 million compared with $28 million in the prior year's period. Net income increased 63% in the first quarter of 2016 to $19 million compared with $12 million in the prior year's period and diluted... More
