Under Armour: international growth buoys revenue
(CercleFinance.com) - U.
S. athletic apparel maker Under Armour said on Thursday that its second-quarter revenue rose 8 percent, mostly thanks to international growth.
The Baltimore-based company said revenue reached 1.2 billion dollars in the last three months, up from 1.1 billion dollars in the same period of 2017.
The international business continued to deliver strong growth, with a 28 percent increase to 302 million dollars, it said.
With sales, general and administrative expenses increasing due to continued investments - particularly in international businesses - net loss widened to 96 million dollars, compared to just 12 million dollars one year earlier.
Looking ahead, net revenue is now expected to increase approximately 3 per cent to 4 percent during the third quarter, reflecting international growth of greater than 25 percent.
Based on these estimates, operating loss is expected to be in the range of 50 million dollars to 60 million dollars, Under Armour said.
Its shares were up over 9 per cent in pre-market trading on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
S. athletic apparel maker Under Armour said on Thursday that its second-quarter revenue rose 8 percent, mostly thanks to international growth.
The Baltimore-based company said revenue reached 1.2 billion dollars in the last three months, up from 1.1 billion dollars in the same period of 2017.
The international business continued to deliver strong growth, with a 28 percent increase to 302 million dollars, it said.
With sales, general and administrative expenses increasing due to continued investments - particularly in international businesses - net loss widened to 96 million dollars, compared to just 12 million dollars one year earlier.
Looking ahead, net revenue is now expected to increase approximately 3 per cent to 4 percent during the third quarter, reflecting international growth of greater than 25 percent.
Based on these estimates, operating loss is expected to be in the range of 50 million dollars to 60 million dollars, Under Armour said.
Its shares were up over 9 per cent in pre-market trading on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.