US–based developer, marketer and distributor of branded performance products Under Armour has posted much improved financial results for the first quarter ended March 31.

First quarter net income increased to $8.7 million compared with $2.5 million in 2005. Net revenue increased by 50.7% to $87.7 million in the first quarter compared with net revenue of $58.2 million in the first quarter of 2005. The company also posted $14.2 million in operating income for the quarter versus $4.9 million in the previous year.

First quarter net sales, which consist of Under Armour products sold globally other than through licensees, increased 50.3% to $85.3 million from $56.8 million in the same period of 2005.

The brand's moisture-wicking synthetic fabrics are engineered in different designs and styles to provide an alternative to traditional natural fibre products.