Q2 revenue growth at Under Armour
Performance apparel, footwear, and accessories brand Under Armour, Inc. has posted positive financial results for its second quarter ended June 30.
Net revenues increased 30% in the second quarter to $156.7 million compared with $120.5 million in the same quarter last year. However, net income was $1.4 million compared with $5.7 million in the same period of 2007. For the first six months of 2008, net revenues increased 28.2% to $314 million from $244.9 million in the prior year.
Apparel net revenues for the second quarter rose 10.3% to $96.2 million compared with $87.2 million in the same period last year, while for the first six months, apparel net revenues increased 18.1%. Boosted by the launch of Performance Training Footwear during the quarter, footwear revenues increased 128.8% to $46 million from $20.1 million in the second quarter of 2007. Footwear net revenues represented 29% of total net revenues in the second quarter compared with 17% in the same last prior year.
