Columbia Sportswear Issues 2017 Guidance - Quick Facts

(RTTNews) - Columbia Sportswear Company (COLM) announced, for fiscal 2017, the company targets: net sales growth of approximately 4 percent compared with 2016 net sales of $2.38 billion, including approximately 1 percentage point negative effect from changes in foreign currency exchange rates; operating income growth of up to 5 percent, to between $260 million and $270 million; net income of between $192 million and $200 million, or approximately $2.72 to $2.82 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.89. Analysts' estimates typically exclude special items.

Columbia Sportswear noted that the company's annual net sales are weighted more heavily toward the Fall season, while operating expenses are more equally distributed throughout the year, resulting in a highly seasonal profitability pattern weighted toward the second half of the fiscal year. The company's U.S. direct-to-consumer channel is expected to account for a majority of the projected full year 2017 global net sales increase. In addition, the company's anticipated growth in full year 2017 operating income and net income is expected to occur in the second half.

CEO Tim Boyle said, "Our 2017 outlook anticipates up to 4 percent earnings growth on 4 percent net sales growth, driven by contributions from three of our four brands and all four of our geographic regions. As part of our focus on relentless improvement, the senior management team and I are engaging a leading consulting firm to assist us in performing a thorough assessment of our operating model. Our goal is to ensure that our business is aligned and organized to successfully execute our strategic plan."

The board of directors authorized a regular quarterly dividend of $0.18 per share, payable on March 22, 2017 to shareholders of record on March 9, 2017.