PR Newswire
BALTIMORE, April 27, 2017
BALTIMORE, April 27, 2017 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) today announced financial results for the first quarter ended March 31, 2017. All per share amounts are on a diluted basis. This release refers to "currency neutral" revenue, which is a non-GAAP financial measure described below under the "Non-GAAP Financial Information" paragraph.
"Our first quarter results were in line with our expectations and we're off to a solid start in 2017," said Under Armour Chairman and CEO Kevin Plank. "By proactively managing our growth to deliver superior innovative product, continuing to strengthen our connection with consumers and increasing our focus on operational excellence - we have great confidence in our ability to drive toward our full year targets."
First Quarter Income Statement Highlights
First Quarter Balance Sheet Highlights
Fiscal 2017 Outlook
There are no changes to the company's full year 2017 outlook provided on January 31, 2017:
Conference Call and Webcast
Under Armour will hold its first quarter 2017 conference call and webcast today at approximately 8:30 a.m. Eastern Time. The call will be webcast live at http://investor.underarmour.com and will be archived and available for replay approximately three hours after the live event.
Non-GAAP Financial Information
The company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). However, this press release refers to certain "currency neutral" financial information, which is a non-GAAP financial measure. The company provides a reconciliation of this non-GAAP measure to the most directly comparable financial measure calculated in accordance with GAAP. See the end of this press release for this reconciliation.
Currency neutral financial information is calculated to exclude foreign exchange impact. Management believes this information is useful to investors to facilitate a comparison of the company's results of operations period-over-period. This non-GAAP financial measure should not be considered in isolation and should be viewed in addition to, and not as an alternative for, the company's reported results prepared in accordance with GAAP. In addition, the company's non-GAAP financial information may not be comparable to similarly titled measures reported by other companies.
About Under Armour, Inc.
Under Armour, Inc. (NYSE: UA, UAA), the originator of performance footwear, apparel and equipment, revolutionized how athletes across the world dress. Designed to make all athletes better, the brand's innovative products are sold worldwide to athletes at all levels. The Under Armour Connected Fitness™ platform powers the world's largest digital health and fitness community through a suite of applications: UA Record, MapMyFitness, Endomondo and MyFitnessPal. The Under Armour global headquarters is in Baltimore, Maryland. For further information, please visit the Company's website at www.uabiz.com.
Forward Looking Statements
Some of the statements contained in this press release constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, the development and introduction of new products, the implementation of our marketing and branding strategies, and the future benefits and opportunities from acquisitions and other significant investments. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "assumes," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology. The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, but not limited to: changes in general economic or market conditions that could affect overall consumer spending or our industry; changes to the financial health of our customers; our ability to effectively manage our growth and a more complex global business; our ability to effectively drive operational efficiency in our business; our ability to comply with existing trade and other regulations, and the potential impact of new trade and tax regulations on our profitability; our ability to successfully manage or realize expected results from acquisitions and other significant investments or capital expenditures; our ability to effectively develop and launch new, innovative and updated products; increased competition causing us to lose market share or reduce the prices of our products or to increase significantly our marketing efforts; our ability to accurately forecast consumer demand for our products and manage our inventory in response to changing demands; fluctuations in the costs of our products; loss of key suppliers or manufacturers or failure of our suppliers or manufacturers to produce or deliver our products in a timely or cost-effective manner, including due to port disruptions; our ability to further expand our business globally and to drive brand awareness and consumer acceptance of our products in other countries; our ability to accurately anticipate and respond to seasonal or quarterly fluctuations in our operating results; risks related to foreign currency exchange rate fluctuations; our ability to effectively market and maintain a positive brand image; the availability, integration and effective operation of information systems and other technology, as well as any potential interruption in such systems or technology; risks related to data security or privacy breaches; our ability to raise additional capital required to grow our business on terms acceptable to us; our potential exposure to litigation and other proceedings; and our ability to attract key talent and retain the services of our senior management and key employees. The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
Under Armour, Inc. | ||||||||||||||
For the Quarter Ended March 31, 2017 and 2016 | ||||||||||||||
(Unaudited; in thousands, except per share amounts) | ||||||||||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||
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| | Quarter Ended March 31, | ||||||||||||
| | 2017 | | % of Net | | 2016 | | % of Net | ||||||
Net revenues | | $ | 1,117,331 | | | 100.0 | % | | $ | 1,047,702 | | | 100.0 | % |
Cost of goods sold | | 611,908 | | | 54.8 | % | | 567,066 | | | 54.1 | % | ||
Gross profit | | 505,423 | | | 45.2 | % | | 480,636 | | | 45.9 | % | ||
Selling, general and administrative expenses | | 497,887 | | | 44.6 | % | | 445,753 | | | 42.5 | % | ||
Income from operations | | 7,536 | | | 0.7 | % | | 34,883 | | | 3.4 | % | ||
Interest expense, net | | (7,820) | | | (0.7) | % | | (4,532) | | | (0.4) | % | ||
Other expense, net | | 2,570 | | | 0.2 | % | | 2,702 | | | 0.2 | % | ||
Income before income taxes | | 2,286 | | | 0.2 | % | | 33,053 | | | 3.2 | % | ||
Provision for income taxes | | 4,558 | | | 0.4 | % | | 13,873 | | | 1.4 | % | ||
Net income (loss) | | $ | (2,272) | | | (0.2) | % | | $ Werbung Mehr Nachrichten zur Under Armour Inc. Aktie kostenlos abonnieren
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