Excluding certain items, earnings for the producer of Stephen
Curry basketball shoes came in at 22 cents per share, beating
analysts' average estimate of 19 cents.
But shares in the company, which have already halved this year,
fell another 13 percent to $14.3 in premarket trading. <UA.N> <UAA.N>
Under Armour said it expects a percentage rise for its full-year
revenue in the low single-digits, compared to a previous
forecast of growth of 9-11 percent.
The company also said it expected its 2017 adjusted earnings to
be from 18 cents to 20 cents per share, compared to previous
expectations of 37 cents to 40 cents.
It reported a 4 percent dip in revenue to $1.41 billion, its
first decline in revenue since it floated in 2005. Analysts on
average had expected $1.48 billion, according to Thomson Reuters
The company reported a net profit of $54.2 million, or 12 cents
per Class C share, in the third quarter ended Sept. 30, compared
with $128.2 million, or 29 cents, a year earlier.
That reflected the $85 million charge taken for restructuring
plans announced in August.
(Reporting by Gayathree Ganesan in Bengaluru; Editing by
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