With a rise in net income, Under Armour (NYSE:UA) beat Wall Street forecasts in the second quarter.
Earnings and Revenue The company experienced stronger-than-expected EPS and revenues. The company reported EPS of 6 cents a share versus the 5 cents a share estimate and revenues of $369.5 million versus the $358.4 million estimate. The estimates of 22 analysts ranged from profit of 2 cents to profit of 6 cents.
The company's net income for the quarter was $6.7 million. According to the reported number, this is up 6.8% from last year's levels. Revenue climbed 26.8% from $291.3 million in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company has averaged revenue growth of 33.5% over the past five quarters.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 2 cents in the first quarter, one cent in the fourth quarter of the last fiscal year and one cent in the third quarter of the last fiscal year.
Official Comment: "Our heightened attention to innovation across all of our product lines continues to resonate with consumers," stated Kevin Plank, Chairman, CEO, and President of Under Armour, Inc. "Our broad-based success during the quarter reflects our ability to build upon platform technologies such as Charged Cotton, while introducing new ideas such as ColdBlack. In Women's, we are redefining how the female athlete looks at our Brand with the strong introductions of our Studio line and Armour Bra. We are also excited about gaining momentum in the footwear space with game-changing products such as our $130 Highlight football cleat and the just-launched UA Spine running shoe."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.