Athletic Apparel Maker Under Armour's Profit Jumps 73 Pct

Earnings Reuters

Under Armour Inc reported a 73 percent jump in first-quarter profit, driven by strong growth in sales of its athletic apparel and footwear.

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Shares of the company, known for its HeatGear and ColdGear clothing, rose 5.7 percent to $57.5 in premarket trading.

Net income rose to $13.5 million, or 6 cents per share, in the first quarter ended March 31, from $7.8 million, or 4 cents per share, a year earlier.

Revenue increased 36 percent to $641.6 million.