US developer and distributor of branded performance apparel, footwear and accessories Under Armour, Inc. has reported a significant improvement in the first quarter, ended March 31. Net revenues increased 41.8% to reach $124.3 million from the $87.7 million reported in the same quarter of 2006, whilst net income increased 13.8% to $9.9 million from $8.7 million.

Apparel revenues grew 26.9% and accounted for $22 million of the year-on-year increase in net revenues. The company’s Compression category continued to drive growth across the apparel business as did expanded ranges in key categories such as baseball and golf. Revenues also benefited from an increase in average selling price as a result of the expansion of the company’s product offerings.

Footwear, which was not offered in the first quarter of the prior year, contributed $11.8 million in net revenues for the quarter.

The company's products are sold worldwide and worn by professional football, baseball, and soccer players, as well as athletes in major collegiate and Olympic sports.