Revenues rise at Under Armour
Sports apparel and footwear company Under Armour has posted higher revenues and income for the second quarter ended June 30.
Revenues increased 5.1% during the quarter to $164.6 million compared with $156.7 million in the second quarter of 2008. Net income rose 4.7% year-on-year to $1.4 million.
Second quarter apparel revenues rose 16.5% to $112 million compared with $96.2 million in the same period last year. However, as anticipated, footwear revenues fell to $37.5 million compared with $46 million.
For the first six months of 2009, net revenues rose 16.1% to $364.6 million compared with $314 million in the prior year. Net income for the first six months rose 27.2% to $5.4 million compared with $4.2 million.
Kevin Plank, chairman and CEO said: "We are proud of what we have accomplished but will continue to hold ourselves to a higher standard."
