Under Armour Q2 Profit Declines On Acquisition, FY Outlook Beats Estimates

(RTTNews) - Under Armour, Inc. (UA) Thursday announced a 17 percent decline in second quarter net income to $15 million from $18 million last year. Earnings per share were down to $0.07 from $0.08 in the prior year's period. The result reflects the impacts of the Endomondo and MyFitnessPal acquisitions.

On average, 29 analysts polled by Thomson Reuters expected the company to earn $0.05 per share. Analysts estimates usually exclude special items.

Net revenues for the quarter increased 29 percent to $784 million from $610 million in the prior year. On a currency neutral basis, net revenues increased 31 percent from last year. The Street were looking for $762.15 million.

Looking ahead to the full year 2015, the company now projects operating income in the range of $405 million to $408 million, representing growth of 14 to 15 percent from the prior year. Earlier outlook was $400 to $408 million, up 13 percent to 15 percent from last year. Wall Street was looking for earnings of $1.07 per share on revenue of $3.83 billion.

Revenue is expected to grow 25 percent to approximately $3.84 billion, while earlier projection was $3.78 billion, up 23 percent from the prior year.