Big Gains for Under Armour
BALTIMORE – Under Armour, the eleven-year-old performance apparel company founded by a former college football player, has posted a 135.6% net income growth in the second quarter, up from $2.4 million last year to $5.7 million this year.
Founder and CEO Kevin A. Plank credited female consumers with the soaring numbers, but in a statement added, “We cannot forget about the business that started it all – our Men’s apparel business. The growth in this business continues to exceed our expectations. Year-to-date, our most mature business is up 37%, speaking to the momentum of technical performance products in the athletic apparel market as a growing number of consumers shift away from cotton to performance fabrications.”
Under Armour is raising its 2007 net revenues outlook to $580 to $590 million from $560 to $580 million and its income from operations outlook to $79 to $81 million from $74.5 to 77.5 million.
