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Shares of the No. 2 U.S. sportswear maker, which also raised its
full-year 2016 sales forecast, were up 2.4 percent in premarket
trading on Thursday.
Under Armour's sales of sports and outdoor apparel rose 20
percent to $666.6 million in the first quarter ended March 31,
driven by demand for training and golf clothing. Apparel
accounts for more than 60 percent of the company's total
revenue.
Footwear sales jumped 64 percent to $264.2 million, driven by
strong demand for Speedform Apollo running shoes, Curry One and
Curry Two basketball shoes and Drive One golf shoes.
Under Armour raised its full-year sales forecast to around $5.0
billion from about $4.95 billion.
The company's net income rose to $19.2 million, or 4 cents per
share, from $11.7 million, or 3 cents per share, a year earlier.
Revenue rose 30 percent to $$1.05 billion.
Analysts on average expected 2 cents on revenue of $1.04
billion, according to Thomson Reuters I/B/E/S.
(Reporting by Ramkumar Iyer in Bengaluru; Editing by Anil
D'Silva)
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