Under Armor Beats Q2 Forecasts, Shares Jump

The company also increased its earnings guidance for the year

   

Real America Index1 Under Armor Beats Q2 Forecasts, Shares JumpIncreased athletic shoe sales boosted earnings performance at Under Armor (NYSE:UA), sending its shares sharply higher.

The company reported today that it earned $7 million in the second quarter, up 17% from $6 million during the same period last year.

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Revenue jumped 27% to $369 million, topping the $358 million Wall Street had anticipated, Reuters noted.

EPS for the quarter was 6 cents, the same as last year, but a penny more than analysts had predicted.

Investors liked the news. Shares of Under Armor shot up more than 11% in Tuesday afternoon trading.

The company said that it now anticipates operating income of between $205 million and $207 million and revenues of between $1.8 billion and $1.82 billion for 2012. That marked an increase from previous revenue guidance of between $1.78 billion and $1.8 billion.

Under Armor noted that sales of athletic footwear jumped 44% during the quarter.

Last month, investors hammered footwear rival Nike‘s (NYSE:NKE) shares after it missed earnings estimates for its fiscal fourth quarter.


Article printed from InvestorPlace Media, http://investorplace.com/2012/07/under-armor-beats-q2-forecasts-shares-jump/.

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