As 24/7 Wall St. wrote yesterday, Under Armour (UA) was expected to see $0.34 EPS on $190.95 million revenues according to First Call’s consensus estimates; and next quarter is also expected to see $0.34 EPS but on revenues of $179.3 million.
Well, things went a lot better than that. Net revenues increased 46.3% in the third quarter of 2007 to $186.9 million compared to net revenues of $127.7 million in the third quarter of 2006. Third quarter net income increased 25.4% to $20.0 million compared to $16.0 million in the same period of 2006. EPS hit $.40.
Gross margin for the third quarter of 2007 remained steady at 50.6% compared to 50.6% in the prior year. Selling, general and administrative expenses decreased to 32.5% of net revenues in the third quarter of 2007 compared to 33.4% in the prior year.
The stock traded up after the results were released.
Douglas A. McIntyre
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