under armour inc-class a (UA) Key Developments
Under Armour, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Updates Earnings Guidance for 2015
Jul 23 15
Under Armour, Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, net revenues were $783.577 million against $609.654 million a year ago. Income from operations was $31.901 million against $34.694 million a year ago. Income before income taxes was $27.680 million against $33.714 million a year ago. Net income was $14.766 million or $0.07 per diluted share against $17.690 million or $0.08 per diluted share a year ago.
For the six months, net revenues were $1,588.518 million against $1,251.261 million a year ago. Income from operations was $59.568 million against $61.550 million a year ago. Income before income taxes was $51.297 million against $58.850 million a year ago. Net income was $26.494 million or $0.12 per diluted share against $31.228 million or $0.14 per diluted share a year ago. Net cash used in operating activities was $179.913 million against $45.666 million a year ago. Purchases of property and equipment was $165.485 million against $68.901 million a year ago. Purchases of other assets was $2.321 million against $0.260 million a year ago.
The company had previously anticipated 2015 net revenues of approximately $3.78 billion, representing growth of 23% over 2014, and 2015 operating income in the range of $400 million to $408 million, representing growth of 13% to 15% over 2014. Based on current visibility, the Company expects 2015 net revenues of approximately $3.84 billion, representing growth of 25% over 2014 and 2015 operating income in the range of $405 million to $408 million, representing growth of 14% to 15% over 2014. The 2015 guidance continues to reflect the net dilutive impact from the Connected Fitness acquisitions, as well as the impact of the strong dollar negatively impacting operating margin within international businesses.
Under Armour Extends Partnership with Austria Ski Federation OESV
Jul 23 15
Under Armour announced that for the past four years the innovative sports performance brand the company has been an official apparel supplier of the Austria Ski Team. This successful partnership has been extended for an additional two years, until May 31, 2017. The brand strengthens its role as the official sponsor of the OESV/Austria Ski Team to now include performance training gear (apparel, equipment, compression and recovery apparel), as well as running and training footwear.
Under Armour Names Terdema L. Ussery II as President Of Global Sports Categories
Jul 16 15
Under Armour announced that Terdema L. Ussery II has joined the organization as President, Global Sports Categories, effective September 14, 2015. In this position, Mr. Ussery will be responsible for spearheading category management across all key brand and business units around the world to drive authenticity and connectivity with consumers. Prior to joining Under Armour, Mr. Ussery served as the President and CEO of the Dallas Mavericks for the past 18 years. Previously, Mr. Ussery held the position of President of Nike Sports Management, overseeing the marketing, advertising and branding of the company's most elite athletes and securing notable brand partnerships. Mr. Ussery will be based out of the company's headquarters in Baltimore, MD.
Under Armour, Inc. Proposes Amendments to its Charter
Jul 13 15
Under Armour, Inc. proposed amendments to its charter, for approval at the EGM to be held on August 26, 2015.
Champs Sports and Under Armour to Launch Store-Within-Store at Columbia Mall
Jul 6 15
Champs Sports has announced that it is launching a store-within-a-store concept at The Mall in Columbia in collaboration with Under Armour. The ARMOURY at Champs Sports is the first-of-its-kind, premium store-within-a-store and will open later this month at the Champs Sports store in The Mall in Columbia in Columbia, Md. right in the backyard of Under Armour's Baltimore headquarters. The ARMOURY at Champs Sports will serve as the premiere destination in the region for legions of Under Armour brand enthusiasts, featuring all of Under Armour's best and most innovative footwear, apparel, and accessories. Within this unique retail space, consumers also will be provided special access to exclusive Under Armour product and athlete appearances.