September 26, 2016 12:21 PM ET

Textiles, Apparel and Luxury Goods

Company Overview of Columbia Sportswear Company

Company Overview

Columbia Sportswear Company designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for men, women, and youth under the Columbia, Mountain Hardwear, Sorel, and prAna brands. Its products are used during various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, and adventure travel. The company also offers footwear products, including hiking boots, trail running shoes, rugged cold weather ...

14375 Northwest Science Park Drive

Portland, OR 97229

United States

Founded in 1938

5,978 Employees

Phone:

503-985-4000

Key Executives for Columbia Sportswear Company

Chief Executive Officer and Director
Age: 66
Total Annual Compensation: $928.8K
President and Chief Operating Officer
Age: 52
Total Annual Compensation: $729.4K
Chief Financial Officer, Executive Vice President of Finance and Treasurer
Age: 48
Total Annual Compensation: $560.5K
Senior Vice President and General Manager of EMEA Region
Age: 47
Total Annual Compensation: $1.1M
Chief Administrative Officer, Executive Vice President, General Counsel and Secretary
Age: 53
Total Annual Compensation: $470.2K
Compensation as of Fiscal Year 2015.

Columbia Sportswear Company Key Developments

Columbia Sportswear and Manchester United Debut Outdoor Apparel Line

Columbia Sportswear and Manchester United announced the release of a new line of outerwear for fans around the globe. Seventeen styles of jackets and shells for men, women and children now available; each style featuring the iconic logos of two of the world’s most recognized brands. The Columbia line for Manchester United includes styles suitable for wearing inside the stadium, during weekend adventures and on the high-street. The collection is led by three key styles that feature Columbia’s technologies to keep fans warm, dry and protected. The Heatzone 1000 TurboDown Jacket offers unrivalled warmth from 900-fill, water-resistant goose down, thermal reflective lining and revolutionary wave baffle construction that eliminates cold spots found in traditional down jackets. The OutDry Extreme Diamond Shell provides 100% waterproof protection against the heaviest downpours while the Barlow Pass 550 TurboDown Quilted Jacket offers classic city style and a removable faux-fur hood.

Columbia Sportswear Company Enters into an Eighth Amendment to its Credit Agreement

on July 28, 2016, Columbia sportswear company entered into, effective as of June 30, 2016, an eighth amendment to its credit agreement dated June 15, 2010, as amended, with wells Fargo bank, national association, as the administrator for the lenders and as a lender, and Bank of America, N.A. as a lender. The amendment clarifies the indebtedness negative covenant to include an exception for intercompany indebtedness, and is retroactively effective as of June 15, 2010. This eighth amendment may be executed in any number of counterparts, each of which when executed and delivered shall be deemed to be an original, and all of which when taken together shall constitute one and the same agreement. delivery of an executed counterpart of a signature page of this eighth amendment by fax or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this eighth amendment.

Columbia Sportswear Company Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reiterates Earnings Guidance for the Full Year of 2016

Columbia Sportswear Company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net sales of $388,745,000 compared with $380,234,000 for the same period a year ago. Loss from operations was $11,786,000 compared with $8,962,000 for the same period a year ago. Loss before income tax was $11,097,000 compared with $8,199,000 for the same period a year ago. Net loss attributable to Columbia Sportswear Company was $8,172,000 or $0.12 per diluted share compared with $6,545,000 or $0.09 per diluted share for the same period a year ago. For the six months, the company reported net sales of $913,881,000 compared with $859,216,000 for the same period a year ago. Income from operations was $32,479,000 compared with $35,160,000 for the same period a year ago. Income before income tax was $33,020,000 compared with $33,830,000 for the same period a year ago. Net income attributable to Columbia Sportswear Company was $23,598,000 or $0.33 per diluted share compared with $19,926,000 or $0.28 per diluted share for the same period a year ago. Net cash provided by operating activities was $102,702,000 compared with $24,136,000 for the same period a year ago. Capital expenditures was $22,972,000 compared with $28,365,000 for the same period a year ago. The company reiterated earnings guidance for the full year of 2016. For the full year, the company’s annual net sales are weighted more heavily toward the fall/winter season, while operating expenses are more equally distributed throughout the year, resulting in a highly seasonal profitability pattern weighted toward the second half of the fiscal year, with virtually all of the company's anticipated growth in 2016 operating income and earnings concentrated in the fourth quarter. The company currently expects mid-single-digit percentage 2016 net sales growth, including approximately 1 percentage point negative effect from changes in foreign currency exchange rates, on a base of 2015 net sales of $2.33 billion. The company expects fiscal year 2016 gross margins to improve by up to 10 basis points, and for selling, general and administrative expenses (SG&A) to increase at a rate slightly faster than net sales, resulting in approximately 15 basis points to 45 basis points of SG&A expense deleverage. The company continues to expect a full year tax rate of approximately 25%. Based on the above assumptions, the company expects a mid-single-digit percentage increase in operating income, to between $254 million and $263 million, resulting in anticipated 2016 operating margin of up to 10.7%. The company expects a high-single-digit percentage increase in net income after non-controlling interest, to between approximately $184 million and $191 million, or approximately $2.60 to $2.70 per diluted share, up to 10% higher than 2015 EPS of $2.45.

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