Under Armour Q4 Results Beat Estimates, Lifts 2014 Outlook - Quick Facts

(RTTNews) - Branded performance apparel and footwear maker Under Armour, Inc. (UA) reported net income for the fourth quarter of $64.17 million or $0.59 per share, up from $50.13 million or $0.47 per share in the year-ago period.

On average, 32 analysts polled by Thomson Reuters expected earnings per share of $0.53 for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues for the quarter surged 35 percent to $682.76 million from $505.86 million in the prior-year period. Analysts had a consensus revenue estimate of $619.92 million for the quarter.

Apparel net revenues for the quarter grew 35 percent from last year to $546 million, primarily driven by expanded Fleece offerings and new ColdGear Infrared products. Footwear net revenues rose 24 percent to $55 million, led by gains in running. Accessories net revenues increased 52 percent to $65 million, primarily driven by headwear and gloves.

Looking ahead to fiscal 2014, Under Armour raised its outlook for net revenues to a range of $2.84 billion to $2.87 billion, representing growth of 22 percent to 23 percent over fiscal 2013. The company now forecasts operating income in a range of $326 million to $329 million, representing growth of 23 percent to 24 percent over 2013.

Street expects the company to report revenues of $2.77 billion for the year.