Profits fall at Columbia Sportswear
Columbia Sportswear has posted net sales of $354.9 million for the quarter ended December 31, a 6% decrease compared with $376.7 million for the same period of 2007. Fourth quarter net income totalled $18.6 million compared with $45.7 million in the prior-year period.
For full-year 2008, net sales totalled $1.32 billion, down 3% compared with $1.36 billion in 2007. Net income was $95 million compared with $144.5 million in 2007.
President and chief executive officer, Tim Boyle, said that the weakened global economy has taken its toll. However, he said: "We will continue to invest in creating innovative products of superior value that protect consumers so they can enjoy their outdoor lifestyles year-round. Especially during economic times like these, we believe Columbia's heritage of providing superior performance at great value is a compelling position that will resonate with increasingly discerning consumers."
