Under Armour Q3 Profit Up, Boosts Revenue Outlook

(RTTNews) - Under Armour, Inc. (UA) posted 27% higher third-quarter net income of $73 million, compared with last year's $57 million, with earnings per share rising to $0.68, from $0.54 per share a year ago. On average, 30 analysts polled by Thomson Reuters expected earnings per share of $0.66 for the quarter. Analysts' estimates typically exclude one-time items.

During the quarter, net revenues increased 26% to $723 million, from $575 million in the prior-year period. Analysts estimated revenues of $710.18 million for the quarter.

Quarterly apparel net revenues increased 26% to $561 million, largely driven by the continued expansions of the Storm and Charged Cotton platforms, as well as the introduction of ColdGear Infrared technology. Footwear net revenues advanced by 28% to $81 million from $63 million in the prior year's period, led by strong gains in both running and football.

Going forward, the firm now sees net revenues of around $2.26 billion in 2013. The company had previously anticipated 2013 net revenues of $2.23 billion - $2.25 billion. Thirty analysts project full-year revenues of $2.26 billion.